WASHINGTON— The House passed a package of tax breaks Thursday designed to boost charitable donations by seniors, private foundations and procrastinators. The White House threatened to veto the bill because it would add $16 billion to the budget deficit over the next decade.
WASHINGTON— If there's anything that can unite Democrats and Republicans in the partisan swamp of Capitol Hill, it's free money. The latest example of free money in Washington is a retread proposal called "pension smoothing" that raises money but doesn't increase anyone's taxes. To some people's way of thinking, that's a win-win situation.
The action cobbles together $10.8 billion by using pension tax changes, customs fees and money from a fund to repair leaking underground fuel storage tanks to keep the federal Highway Trust Fund, which pays for transportation programs nationwide, solvent through May 2015.
WASHINGTON, July 11- The U.S. House of Representatives voted 258-160 on Friday to extend permanently a business tax break dealing with deductions for depreciating certain capital investments, a move that would cost U.S. taxpayers an estimated $287 billion over 10 years.
Dave Camp, R- Mich., that cobbles together $11 billion in pension tax changes, customs fees and money from a fund to repair leaking underground fuel storage tanks to shore up the federal Highway Trust Fund through May 2015. In the Senate, the Finance Committee, also on a voice vote, approved a compromise worked out between the committee's chairman, Sen.
Hammering away at the White House and the IRS over the 2013 affair, a handful of Republicans accused the Obama administration of obstructing congressional probes and renewed calls for the naming of an independent prosecutor. The IRS had no immediate comment.
WASHINGTON, June 12- The defeat of U.S. House of Representatives Majority Leader Eric Cantor shifted the political ground under U.S. multinational corporations this week, just as they seemed to be gaining traction in their push for a $95 billion tax break on bringing foreign profits home.
WASHINGTON, May 19- Corporate tax-dodging deals known as inversions, in which a U.S. multinational shifts its tax domicile to a lower-tax country, would be restricted under legislation to be proposed in both houses of Congress by Democrats on Tuesday. Representative Sander Levin and Senator Carl Levin, brothers from Michigan, will both propose bills, aides said.
*Republican: Japan should sit out trade talks if not ready. WASHINGTON, April 3- The United States pressed Japan on Thursday to open its farm and auto markets to overseas competition and said it could not expect special treatment in a Pacific trade pact covering one-third of global imports and exports.
Ryan's budget has no chance of passing the Democratic-controlled Senate. Ryan, the chairman of the House of Representatives Budget Committee, is calling for spending cuts totaling $5.1 trillion over a decade to reach a balanced budget by 2024 with no new tax revenue.
WASHINGTON, March 4- President Barack Obama proposed new tax credits and job-training programs for U.S. workers on Tuesday in a 2015 budget that drew instant condemnation from Republicans, who dismissed the document as an election-year campaign pitch.
WASHINGTON, March 4- President Barack Obama proposed new tax credits and job-training programs for U.S. workers on Tuesday in a 2015 budget that highlights stark differences with Republicans, who favor a reduced government role in promoting economic opportunity.
WASHINGTON, Feb 28- A month after Republicans rallied around offering an alternative to President Barack Obama's healthcare law in an election-year move to broaden their appeal to voters, divisions are surfacing over the issue in the U.S. House of Representatives.
Congress faces a Sept. 30 deadline to renew federal funding for transportation programs, and the Highway Trust Fund that helps pay for road and bridge projects is teetering on insolvency.
WASHINGTON, Feb 26- The U.S. House of Representatives' top tax writer released a comprehensive tax code overhaul on Wednesday, but it was widely seen as dead-on-arrival in a Congress still deeply divided over fiscal policy.
WASHINGTON, Feb 26- The U.S. House of Representatives' top Republican tax writer will release a plan on Wednesday to overhaul the tax code, but it was widely seen as dead-on-arrival in a Congress still deeply divided over fiscal policy.
Citizens for Tax Justice looked at 288 profitable Fortune 500 companies and said that 26 of them- including Boeing Co, General Electric Co and Verizon Communications Inc- paid no federal income tax in the five-year period.
The plan by Representative Dave Camp, chairman of the tax-writing House of Representatives Ways and Means Committee, would also reduce the seven existing U.S. tax brackets to two, which would be set at 10 percent and 25 percent, according to the Post.
WASHINGTON, Feb 21- A bank tax similar to one that President Barack Obama once proposed may be part of a broad tax reform package expected to be floated on Wednesday by the top Republican tax writer in the U.S. Congress, lobbyists and analysts said on Friday.
WASHINGTON, Feb 10- The Obama administration on Monday again delayed a contentious healthcare law requirement that all but the smallest employers provide coverage to full-time workers, this time by giving medium-sized businesses another year to comply.