News & Updates
Democrats, Obama divided over whether to lock in Bush’s tax cuts
9.29.2010-The Hill
“Senate Democrats are peeling away from President Obama over permanent extension of the middle-class tax cuts, saying that locking in low rates for the vast majority of taxpayers is an unaffordable luxury.”
Gridlock, taxes factors in stock rally
9.29.2010-The Hill
“Stocks have rallied dramatically in September as Republicans look increasingly like they will retake control of the House — and possibly the Senate.”
CBO: Extending the Bush tax cuts will hurt the economy, reduce incomes
9.28.2010-The Washington Post
“CBO Director Doug Elmendorf testified before the Senate Budget Committee today and dropped something of a bombshell. Extending the Bush tax cuts, he said, will “probably reduce income relative to what would otherwise occur in 2020.” The reason is simple: Debt.”
CBO: Tax cut extensions would have negative impact in the long run
9.28.2010-The Hill
“The official budget scorekeeper for Congress provided ammunition Tuesday to lawmakers who want to extend all the Bush tax cuts on a temporary basis.”
Outsourcing bills falls short in Senate
9.28.2010-The Hill
“The Senate on Tuesday decisively rejected a bill that Democrats said would have restricted the ability of U.S. companies to send jobs overseas.”
The Estate Tax Is Fair and We Need It
9.28.2010-The Wall Street Journal
“Regarding your editorial “A Very Grim Reaper” (Sept. 21): Your critique of my Responsible Estate Tax Act sides predictably with millionaires and billionaires over the interests of middle-class and working Americans.”
Pro-Obama business owners dismayed over delaying vote on Bush tax cuts
9.27.2010-The Hill
“Small business owners who support President Obama’s plan to extend Bush-era tax cuts for the middle-class are dismayed by Democratic leaders delaying a vote on the issue until after the election.”
Tax cuts aren’t key to creating jobs
9.27.2010-CNN
“Neil, one of my neighbors on Capitol Hill, recalled this story to me the other day after watching President Obama’s town hall meeting: ‘She was recently widowed, about 93, having lost her husband of over 60 years. When I came upon her in a darkened church hallway, standing alone, staring at the floor, I wanted to know what was wrong.’”
Election-year politics confound tax-cut extension plan
9.26.2010-CNN
“Democrats and Republicans both say they want Bush-era tax cuts extended this year for most, if not all Americans. Then why has it been so hard to make it happen?”
“So How Did the Bush Tax Cuts Work Out for the Economy?”
9.25.2010-Economist’s View Blog
David Cay Johnston takes a look at the Bush Tax cuts. What he sees isn’t pretty.
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Hot Topic
The Tax Compromise is Just the Start
While Congress and the President have reached a temporary deal on the Bush era tax cuts, there is still much work to be done. Click below to see what issues are still in play, and what’s up next for the tax debate.
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