President Obama Says Immigrants Must Pay 'Fair Share Of Taxes'
Tonight, President Obama laid out his plan for immigration reform. It includes the requirement to “pay your fair share of taxes” – but what does that mean?
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What Matters Most When It Comes To Tax Reform? Hint: It's Not Control Of Congress.
Last night, the elections signaled a power shift in Congress. With Republicans controlling both houses, does that mean tax reform is on the way? Here’s why, historically, it’s not control of Congress that matters: it’s something else.
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What If Congressional Elections Were Run Like The NFL Draft?
Over the past few days, like many of you, I’ve been glued to the NFL draft board (Forbes’ Darren Heitner had great coverage here). It was exciting to see who was picked first (Houston took Jadeveon Clowney); who bit on Johnny Manziel (sorry, Cleveland), and where Michael Sam, the first openly gay player to be…
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Grimm Day: Congressman Indicted On Federal Charges, Including Tax Evasion
Rep. Michael Grimm (R-NY) was hit with a 20 count indictment including five counts of mail fraud, five counts of wire fraud, three counts of aiding and assisting in the preparation of false federal tax returns, one count of conspiring to defraud the United States, one count of impeding the Internal Revenue Service, one count of health care fraud, one count of engaging in a pattern or practice of hiring and continuing to employ unauthorized aliens, two counts of perjury and one count of obstructing an official proceeding.
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Budget Faces Challenge From Senators Wary Of Spending, User Fees To Taxpayers
The House has passed a budget deal – and convincingly so. But it will pass muster in the Senate? There are challenges, including concerns about increased spending and those pesky user fees. Are we in for another filibuster?
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Congress Threatens IRS With ‘Right-Sized’ Budget Cuts
Things just keep getting worse for the Internal Revenue Service. Last week, a House Appropriations subcommittee proposed to slash the tax agency’s budget by nearly 25% for the next fiscal year. The cuts would bring the agency’s budget to the lowest level in more than ten years. The budget, which Chairman Hal Rogers (R-KY) has…
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Senate Passes Budget, Calls For Nearly $1 Trillion In Tax Increases
After an extraordinary four year dry spell, the Senate has passed a formal budget proposal. It now goes to the House where, mark my words, it has zero chance of passing. Despite all of the back-slapping, the bill wasn’t all that popular in the Senate. The final vote resulted in a slim victory: 50-49. All…
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House Agrees On A Timeline For Debt Ceilings Talks. Again.
I was wrong. Remember when I said that the House was going to push off the debt ceiling for three months? Turns out they didn’t mean it. They meant four months. The House voted today to delay a decision on the debt ceiling for four more months, through May 18. The measure passed by a…
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House Will Vote To Push Off Debt Ceiling Talks. Again.
House Republican leaders announced over the weekend that they will vote this week on a plan to extend the debt ceiling for three more months so that they don’t have to do anything just yet. And to make us feel better, they swear that if Congress can’t pass a budget by then, they won’t get…
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With The Debt Ceiling Limit Looming, Is Your Tax Refund At Risk?
Every one of us has had that moment when we’ve had to shuffle the cards a bit to make sure all of the bills get paid. That’s exactly the situation our country is finding itself in right now. And what’s in the stack of “to pay later”? It could be your tax refund. How could…