Where tax policy meets politics — legislation, elections, and the debates in Washington that decide how (and how much) you’re taxed.
First appointed by Ronald Reagan in 1987 as Chair of the Federal Reserve. Served under not one but three Republican presidents, including both Presidents Bush. Self-described “lifelong libertarian Republican.” So you’d think that Alan Greenspan would be all about the current Republican agenda to extend the Bush tax cuts – the very tax cuts he…
Yesterday, Chief U.S. District Judge Vaughn Walker in San Francisco ruled that California’s Proposition 8 violates the US Constitution. While there were a lot of cheers and boos after the ruling, you and I both know this means practically nothing. No matter which side Walker came down on, an appeal was a sure thing. I…
Remember those new reporting requirements for businesses that were tucked away inside the health care bill? “Unpopular” doesn’t even begin to describe the provision. So what’s a legislator to do in the midst of an election year? Repeal the very piece of legislation that you passed earlier in the year. Now you can take credit…
So what’s the punishment for Rangel’s numerous ethics violations, including financial wrongdoing and “harming the credibility of Congress”? A stern reprimand of course. That’ll teach him. CNN is reporting that House ethics committee investigators are recommending that Rep. Charlie Rangel (D-NY) be reprimanded as punishment for 13 ethics violations. Rangel, for his part, says the…
We’ve seen it coming for quite some time: Rep. Charles Rangel (D-NY), the former head of the powerful Ways and Means Committee, has been hit with 13 ethics violations, including those stemming from tax issues. Stay tuned for more info.
New York has a problem: there’s no budget. The budget was due on April 1. Almost four months later, the budget still sits on the table, with no resolution in sight. It has not put Governor Paterson in a good mood. Addressing the press, he said, “I know it’s summer and everyone is tired of…
The infamous Wall Street reform bill is now law: President Obama signed it today. The reform bill, known as the Dodd-Frank Wall Street Reform and Consumer Protection Act is being touted as the “most sweeping reform since the New Deal.” The conference report finally passed the Senate by a vote of 60-39 (you can see…
About six months ago, a bipartisan effort to kickstart the economy in the form of new tax incentives, was signed into law by President Obama. The Hiring Incentives to Restore Employment (HIRE) Act, referred to as the HIRE Act, offered a tax break to businesses who hired previously unemployed workers. The break basically exempted employers…
How can you tell it’s an election year? By the sheer number of scare tactics and outright lies being shuffled about. An email is making the rounds – again – suggesting that health care benefits will appear on forms W-2 and will be taxed. I was alerted to this fact on yesterday via reader email…
In the middle of all the “tax loopholes closing” that’s been going on in Congress, a big, fat one may have remained open. Sen. Max Baucus (D-MT), who chairs the powerful Senate Finance Committee, has opened an investigation into whether Transocean, Ltd., has been exploiting tax law loopholes by moving their headquarters overseas (spoiler alert,…