Representative Tom Cole, (R-OK) told the Republican leadership’s team (and the world) that the party should give in and pass legislation extending expiring Bush-era tax cuts for the 98% of all households earning $250,000 or less. Only then, he said, should Republicans take up the fight over what to do...
We’ve heard about the tax increases. We’ve heard about the spending cuts. But expiring emergency aid for the long-term unemployed is also part of the fiscal cliff, and analysts have started to sound the alarm. At the end of December, more than two million workers will lose federal unemployment insurance...
When Republicans signaled a willingness to break with Grover Norquist’s anti-tax pledge, it triggered speculation that the longtime small-government crusader had lost his leverage with the GOP. But reports of the death of Norquist’s clout appear to be exaggerated. Yes, high-profile lawmakers such as Sen. Lindsey Graham, R-SC, have signaled...
As recently as September, the tax cut seemed destined to expire. In recent months, however, it has enjoyed renewed support among Democrats. The president's top economic adviser said on Monday that President Obama still believes the expiring payroll tax cut should be a part of broader fiscal talks, suggesting that...
Bipartisan calls for caps on tax deductions could affect a mortgage-interest tax break once considered unassailable, the New York Times reports. A deduction cap would likely be aimed at upper-income households and could therefore “diminish or end” the deduction on mortgage interest payments for those taxpayers. Proponents of the popular...
After years of temporary solutions, Congress may have found a solution to the perennial problem of looming Medicare physician-payment cuts in 2013. Finding nearly $300 billion to pay for a fix has proven too difficult an issue for lawmakers to tackle in the past. Instead, Congress has routinely passed temporary...
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