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...
The federal government will reach its debt limit in the last week of the year, according to an analysis from the Bipartisan Policy Center. The U.S. Treasury will be able to continue to meet its obligations until some point in February by employing so-called “extraordinary measures,” the analysis concludes. But...
Former Sen. Chuck Hagel (R-NE) is being considered for either Secretary of Defense or State, Foreign Policy reports. Hagel currently co-chairs President Obama’s Intelligence Advisory Board, an independent group that advises the president on the intelligence community. If nominated, Hagel would be the lone Republican in the Obama administration, as...
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