(Washington Post) — As President Obama prepared to sign his $858 billion tax dealFriday, White House aides moved quickly to soothe the anger among liberal constituency groups that bitterly opposed the measure. An e-mail distributed to black leaders declared the package a “major victory for African-Americans,” arguing that a series of middle-class tax cuts will give “targeted” aid […]
(Afro) — Having won the endorsement of the man dubbed America’s “First Black President,” Bill Clinton, the Obama administration on Dec. 10 peddled the tax deal made with Republicans as a boon for the African- American community. “We feel we really were winners in this deal because we got a lot of priorities through that […]
(AJC) — Broadening Georgia’s sales tax to include services in return for lower income tax rates will be the framework of tax reforms a task force will recommend to the General Assembly. An 11-member panel of business leaders and academic economists has been meeting since last summer to look for ways to make the state’s […]
(Wall Street Journal) — President Barack Obama called the bipartisan tax agreement announced on Monday a “framework.” As yet there is no legislative language or even a comprehensive outline of the proposals, and its passage by Congress isn’t assured. But its broad parameters do address a range of tax issues that have been in question […]
(Wall Street Journal) — President Obama’s newly proposed tax package is being praised, though with cautious optimism, by several of the nation’s most prominent small-business advocacy groups. The Republican-backed deal with its temporary extension of Bush-era income tax cuts would have a direct impact on a large segment of entrepreneurs, whose small-business income falls into […]
The rich keep their tax breaks, unemployment payments are extended and payroll taxes are eased.
(New York Times) — With the federal government struggling to regain control over the nation’s deficit, a debate is emerging over the charitable deduction and other tax policies that support nonprofit groups. What began as a proposal by the Obama administration in 2009 to reduce the deduction has become a wide-ranging discussion of what was […]
(Washington Post) — Democratic activists Thursday sharply criticized White Houseofficials after a published report indicated that President Obama is likely to back a temporary extension of tax cuts for households with income over $250,000 a year. Obama responded Friday that while he was open to compromise, his top priority remains making middle-class tax cuts permanent. In an […]