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BOISE - The Idaho Legislature wrapped up a contentious 81-day session Thursday, passing a $35.7 million tax cut for top earners and pushing through last-minute changes in Senate ethics rules that were bitterly opposed by Senate Democrats. Those rules include making the whole Senate ethics committee process – including the appointment of the committee – confidential until the bipartisan panel finds, by majority vote, that there’s probable cause a violation occurred. Anyone divulging the confidential information would violate Senate rules.
BOISE – A $36 million tax cut for Idaho’s top earners is roaring through the Idaho Legislature, backed by Gov. Butch Otter and co-sponsored by a majority of the members of the Idaho House. The move comes even as the state is reeling from three years of deep budget cuts to everything from schools to Medicaid, very few of which are being restored.
Their isolation complete, House Republican leaders abruptly caved and agreed to demands by President Barack Obama, congressional Democrats and fellow Republicans for a two-month extension of tax cuts for all workers.
Forcefully rejecting Republican budget-cutting plans, President Barack Obama on Wednesday proposed lowering the nation's future deficits by $4 trillion over a dozen years and vowed he would not allow benefit cuts for the poor and the elderly to pay for tax breaks for the rich.
Acting with uncommon speed, Congress moved toward final passage tonight of sweeping, bipartisan legislation to avoid a Jan. 1 spike in income taxes for millions and renew jobless benefits for victims of the worst recession in 80 years.
The Senate has passed a sweeping tax package that would save millions of Americans thousands of dollars in higher taxes for the next two years while also reducing their Social Security taxes and extending jobless benefits.
WASHINGTON — House Democrats considered changes in legislation to avoid a Jan. 1 jump in income taxes today, despite a warning from Republicans that the bill’s passage could be endangered as a result.
Here’s one bottom line on all the foolishness about perpetuating the worst-conceived tax cuts in U.S. history: the transfer of $500 billion more in American wealth to the Chinese. Not to pick on the Chinese, much. Their response to the awarding of the Nobel Peace Prize to imprisoned dissident Liu Xiaobo – creation of an alternative Confucius Peace Prize – was a sad farce.
The White House and key lawmakers in both parties cleared the way tonight for swift Senate action to avert a Jan. 1 spike in income taxes for most Americans, agreeing to renew expiring breaks for ethanol and other forms of alternative energy.
Raising the direst alarm yet, the Obama administration warned fellow Democrats today that if they defeat the big tax-cut compromise detested by many liberals, they could jolt the nation back into recession.
Facing a Democratic rebellion, President Barack Obama today staunchly defended his decision to compromise with Republicans and temporarily extend about-to-expire tax cuts for all Americans.
Brushing past Democratic opposition, President Barack Obama announced agreement with Republicans tonight on a plan to extend expiring income tax cuts for all Americans, renew jobless benefits for the long-term unemployed and grant a one-year reduction in Social Security taxes.
Congress resumes its lame-duck session work today with the two parties sharply divided over how to deal with the George W. Bush-era tax cuts due to expire at year’s end.
WASHINGTON – It has been said a lie can make it half way around the world before the truth can even put its boots on. No one is suggesting that those who advocate for inaction on looming tax increases are lying, but they certainly are misinformed. And the truth is catching up with them. Even President Obama’s former director of the Office of Management and Budget, Peter Orszag, favors extending current tax rates, at least temporarily. The president’s former chair of The Council of Economic Advisors, Christina Romer, has written persuasively about how “tax increases are highly contractionary” – meaning they weigh down economic growth.
WASHINGTON — George W. Bush summed it up at an $800 a plate dinner back in 2000 with a joke: “This is an impressive crowd — the haves and the have-mores,” he said. “Some people call you the elites; I call you — my base.” What made the joke really funny is that it was true.