Whew, S corporation shareholders… You dodged a bullet last week when the bill to raise your taxes was voted down. You mean you didn’t know there was such a bill? Of course, you didn’t. That’s because Congress did what it does best: it snuck a controversial provision to boost taxes on certain S corporation shareholders…
The payroll tax cut extensions are going nowhere fast… A vote last night by Republicans on the House rules committee will prevent a direct vote today on the Senate plan to extend the cuts by a ridiculous two months. So if you were looking for an update, go about your business today, there’s nothing to…
I was hoping to report that the Senate had taken up the payroll tax cut extension issue today and tossed out the ridiculous plan hatched last week for a two month extension. But, no. Sen. Majority Leader Harry Reid (D-NV) has indicated that the Senate will not take up the matter until the House passes…
Congress learned a lesson this week: it’s hard to talk job creation when you’re directly responsible for thousands of employees being out of work. In July, Congress failed to reach a compromise on the budget for the Federal Aviation Administration (FAA). The immediate result was that airlines were not authorized to collect federal ticket taxes,…
So after all of the drama, it’s over. For now. President Obama has signed into law legislation that will raise the debt ceiling, averting what many in Congress and the media had led us to believe was very nearly the end of the world. The measure, which passed yesterday in the House by a vote…
When presidential hopeful Newt Gingrich first objected to House Budget Committee Chair Paul Ryan’s (R-WI) Medicare proposal, there was a collective gasp in the political sphere. Until a few weeks ago, many Republicans thought the budget, which included a controversial provision to overhaul Medicare, was untouchable. The proposal, which appeared to be endorsed by most of…
Despite some pretty serious lobbying efforts by realtors, banks, lenders and goodness knows who else, it looks like the homebuyer’s credit may not be extended. The credit was set to expire tomorrow. In other words, to qualify for the tax credit, homebuyers had to close by June 30, 2010. For one reason or another, that…
When I was a little girl, rather than completely clean up my room, I used to decorate it. I’d make a tissue flower and put it in the corner or hang a lovely paper chain on the bed. I guess I figured that if I prettied it up a bit, it would distract my parents…
The crazy train that is Congress just keeps on rolling this week. Despite the overwhelming cost to taxpayers of the homebuyer’s credit, Senate Majority Leader Harry Reid (D-NV) has caved to housing lobbyists decided that money does, in fact, grow on trees panicked about the number of seats the Dems appear to be losing in…
Forget dying birds. Who cares about poisoned fish? Those sick fishermen? They’ll totally get over it – after all, it was food poisoning, right, Tony Hayward? What we need in this country is cash. And we can exploit the BP spill to get it. Democrats in the Senate have come up with a way to…