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Tax cuts
Arkansas Prepares for $35 Million Tax Cut Package
By not in system - AOL NewsLITTLE ROCK, Ark. -- Arkansas is poised to become one of the first states in the nation to enact a significant tax cut this year, showing the sentiment for scaling back government even in places where state spending is limited and no fiscal crisis exists. State representatives Monday are expected to approve cutting the grocery tax, the centerpiece of a $35 million tax cut package. The action comes days after lawmakers reached an agreement with Democratic Gov. Mike Beebe on reductions of five other taxes likely to be approved later this week. The amount of the cuts doesn't compare with the ...
Obama: Here's Your Change, Sir
By Robert and Donna Trussell - Politics DailyFollow the Trussell cartoons on Twitter at ChaosTheoryPD ...
Florida Budget Cuts: Gov. Rick Scott's 5 Most Dramatic Proposals
By Mary Phillips-Sandy - AOL NewsEarlier this month, New York Gov. Andrew Cuomo announced a series of drastic budget cuts in an attempt to close a $10 billion shortfall. Now it's Florida's turn. Newly elected Gov. Rick Scott, a Republican backed by the tea party, has released his first budget proposal for the state. Under Scott's plan, Florida's spending would shrink by $4.6 billion -- and some say the cuts are going too far. Here are some of the biggest reductions in Gov. Scott's proposal. 1. A 10 percent cut in education spending Scott is calling for a $703 million cut in school funding. State Sen. Eleanor Sobel told ...
Federal Budget Deficit on Track to Hit Record $1.5 Trillion
By not in system - AOL NewsWASHINGTON -- Far from slowing, the government's deficit spending will surge to a record $1.5 trillion flood of red ink this year, congressional budget experts estimated Wednesday, blaming the slow economic recovery and last month's tax-cut law. The report was sobering new evidence that it will take more than President Barack Obama's proposed freeze on some agencies to stem the nation's extraordinary budget woes. Republicans say they want big budget cuts but so far are light on specifics. Wednesday's Congressional Budget Office estimates indicate the government will have to borrow 40 cents ...
Reactions to the State of the Union: Cut Spending by Eliminating Tax Breaks?
By Mark Vansetti - AOL NewsOnly a few commentators have picked up on an interesting characterization in President Barack Obama's State of the Union speech. Discussing the deficit, President Obama referred to a bipartisan fiscal commission, which was created by the president to address the country's fiscal problems. In doing so, the president indicated that excessive spending must be cut in as many areas as possible. The areas of excessive spending President Obama chose to include in the speech were "domestic spending, defense spending, health care spending, and spending through tax breaks and loopholes." No one would ...
Keeping Calm and Carrying On: Obama's Focused Style Brought Wins in the End
By Alex Wagner - Politics Daily"Keep Calm and Carry On" -- a British poster created at the start of World War II to boost morale in advance of what would be a very dark few years on the continent -- has been revived of late: on mugs, t-shirts, and Joe Scarborough's Twitter account. Americans have been collectively bummed out for the last two years (the economy, unemployment, war, terrorism, and a general sense of doom), so the resurgence of this motto speaks, perhaps, to some deeper desire for guidance, or as a rejoinder to those inclined toward depression. It's also apparent, here at the end of 2010, that it is a ...
Obama Signing $860 Billion Tax Cut Bill [LIVE STREAM]
By Steven Hoffer - AOL NewsPresident Barack Obama is set to sign an $860 billion tax bill that made its way through the House Thursday. The measure will, among other things, extend the Bush-era tax cuts and spend $57 billion on unemployment benefits for out-of-work Americans. (For more on the legislation, see "Obama's $860 Billion Tax Deal: By the Numbers.") Courtesy of the White House, here is a live feed of the proceedings: JOIN THE LIVE CHAT VISIT WHITEHOUSE.GOV Follow Surge Desk on Twitter. ...
With His Tax Cut Deal, Can We Call Obama the 'New Comeback Kid'?
By JJ Helland - AOL News(Dec. 17) -- Barack Obama might have some of his mojo back. At least The Washington Post's Charles Krauthammer certainly thinks so. In a column today titled "The New Comeback Kid," Krauthammer says the president not only scored a policy coup (he actually referred to it as a "swindle") with the tax package passed by the House last night, but that Dec. 6, the day the legislative deal with Republicans was announced, could mark the day things really turned around for Obama. Here's more from Krauthammer: Remember the question after Election Day: Can Obama move to the center to win ...
Obama's $860 Billion Tax Cut Deal: By the Numbers
By Steven Hoffer - AOL News(Dec. 17) -- President Barack Obama will sign an $860 billion tax deal this afternoon that extends the Bush-era tax cuts by two years and grants unemployed Americans up to 13 additional months of benefits. In a 277-148 vote, the House passed the bill Thursday after the Senate approved an identical measure the day before. Although some opinion makers are calling this a victory for Obama, many liberal Democrats have expressed concerns over the bill, saying the wealthiest Americans got too many breaks in the deal brokered with Republicans. Here is a breakdown of the measure, compliments of the ...
Tax Cuts and Unemployment Benefits: It's a Win-Win!
By Robert and Donna Trussell - Politics DailyFollow the Trussell cartoons on Twitter at ChaosTheoryPD ...
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