(Chicago Sun Times) — Cook County’s mind-boggling property tax system should be simplified and made fairer, a taxpayer watchdog group argued in a report to be issued today. The nonpartisan Civic Federation said widely used tax breaks such as homestead exemptions should be reduced or eliminated. Tax relief for homeowners, the group said, could come […]
Despite days of dissent Democrats gave Obama votes needed for another win.
(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 […]
(Politico) — As a whole, the Congressional Black Caucus is against the deal the president cut with Republicans on taxes. But it’s becoming more clear that’s a consensus position, not a unanimous one. Citing the needs of impoverished, unemployed and foreclosed-upon folks in his Philadelphia district, Democratic Rep. Chaka Fattah announced his backing of the […]
(Wall Street Journal_ == Since the announcement of the deal by the White House and top Republicans to extend Bush-era tax cuts for two years and cut payroll taxes for one, taxpayers have been anxious to learn the fate of other tax breaks that have expired or are set to. Now there is news: The […]
(Wall Street Journal) — The Rev. Al Sharpton and Rep. Anthony Weiner — two of the brashest voices in New York politics — are dueling over the proposed tax deal cut between President Barack Obama and congressional Republicans. Many liberals have attacked the deal and criticized the president for what they see as caving in to […]
(New York Times) — President Obama on Tuesday strongly defended his tax cut deal with Congressional Republicans against intense criticism from his own party, insisting it was “a good deal for the American people.” Struggling to ensure that the package would win approval, the White House deployed Vice President Joseph R. Biden Jr. to Capitol Hill […]
(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 […]
(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 […]
(New York Times) — By proposing to curtail the tax deduction for mortgage interest, the president’s deficit commission is sounding an alarm. The home mortgage deduction is one of the most widely used and expensive tax subsidies. More than 35 million Americans claim it, and the federal government estimates it will cost the Treasury $131 […]