AOL News has a new home! The Huffington Post.
Click here to visit the new home of Politics Daily!Hot on HuffPost:
Controversial Book On Obama Appears To Have Lifted Key Quote
Walker Recall Effort Struggles To Gain Momentum
estate tax
Congress Sends Tax Legislation to White House
By not in system - AOL NewsWASHINGTON (Dec. 17) -- Acting with uncommon speed, Congress sent President Barack Obama sweeping, bipartisan legislation late Thursday to avoid a Jan. 1 spike in income taxes for millions and renew jobless benefits for victims of the worst recession in 80 years. The measure also will cut Social Security taxes for nearly every wage-earner and pump billions of dollars into the still-sluggish economy. The 277-148 vote came less than 24 hours after the Senate cleared the bill, 81-19. The legislation was the result of a reach across party lines between Obama and top Republicans in Congress - ...
Senate Expected to Vote to Extend Tax Cuts
By not in system - AOL NewsWASHINGTON (Dec. 15) -- The Senate cleared the decks Wednesday for a final vote on a sweeping tax package that would save millions of Americans thousands of dollars in higher taxes next year while also reducing their Social Security taxes and extending jobless benefits. The package will then go to the House, where Democrats are fuming over extended tax breaks for the wealthy that President Barack Obama negotiated with Senate Republicans. House Democrats are considering possible changes, perhaps holding a vote to enact a higher estate tax than Obama negotiated. A wide range of tax cuts ...
Two New Polls Show Broad Public Support for Tax Cut Deal
By Bruce Drake - Politics DailyDespite unhappiness among some on the right and left in both political parties about aspects of the deal to extend the Bush-era tax cuts, two new polls show there is broad bipartisan support among the public for the agreement negotiated between President Obama and Senate Republicans. A Pew Research Center survey conducted Dec. 9-12 said 60 percent of Americans approve of the deal, which extends the tax cuts for all Americans including high-income earners as well as extending unemployment benefits. Twenty-two percent disapproved and 18 percent were undecided. Republicans, Democrats, ...
Sen. Tom Harkin a 'No' On Tax Cut Compromise
By Patricia Murphy - Politics DailySen. Tom Harkin (D-Iowa), chairman of the Senate Health, Labor and Education Committee, said Tuesday he will not support the tax cut compromise negotiated between President Obama and Senate Republicans as it stands now. "I don't think I can vote for it," Harkin said. "That's as it sits right now. A lot of things can change." Harkin made his comments after a meeting between Senate Democrats and Vice President Joe Biden, who was dispatched by the White House to Capitol Hill to answer questions about the deal the president stuck without the blessing of Democrats in the Senate. Related ...
Americans Say Taxes Are Top Priority for Lame-Duck Congress
By Bruce Drake - Politics DailyAmericans put two tax issues -- preventing the return of the estate tax and extending the Bush tax cuts -- at the top of the priority list for the lame-duck Congress, but when the numbers are broken down along party lines, there are sharp differences among Republicans and Democrats, according to a USA Today/Gallup poll conducted Nov. 19-21. Fifty-six percent of the overall public says that passing legislation to keep the estate tax from returning next year is "very important" and 50 percent put the same value on extension of the Bush tax cuts in "some form." Under a previously enacted law ...
Opinion: It's Time to Bring Back the Estate Tax
By Paul Wachter - AOL News(Sept. 3) -- The Koch brothers, David and Charles, owners of the second-biggest private company in America, have been the subject of two recent lengthy profiles in The New Yorker and New York magazines for their bankrolling of conservative movements, including the tea party. But the Kochs' politics are more libertarian than Republican and, speculates Chris Douglas at FrumForum, are driven by one great bugaboo: the estate tax. Until the George W. Bush administration, the estate tax -- what conservatives often call the "death tax" -- was 55 percent. President Bush changed that to zero. But as ...
Battle Looming Over Bush Tax Cuts -- Will Your Tax Bill Go Up?
By Patricia Murphy - Politics DailyTo extend or not extend the Bush tax cuts? That question is at the heart of the debate between Democrats and Republicans on Capitol Hill, as lawmakers line up to let the tax cuts expire, make them permanent, or do a little mix and match. Most Republicans, who have traditionally advocated for lower taxes, say that letting Bush's tax cuts expire amounts to a tax increase -- the last thing a country should do in the middle of a recession. Democrats counter that with the federal deficit at a record high, the country cannot afford to take more money out of the treasury, especially to finance lower ...
Texas Billionaire's Heirs Will Inherit Fortune Tax-Free
By Michelle Ruiz - AOL News(June 9) -- After death, there may be no taxes for the relatives of a Texas billionaire. When Houston oil tycoon Dan L. Duncan, 77, died in March of a brain hemorrhage, the man Forbes magazine ranked as the 74th wealthiest man in the world left an estimated $9 billion fortune to his children and grandchildren. In years past, Duncan's estate would have been subject to a federal estate tax of at least 45 percent. But thanks to Congress' one-year repeal of the estate tax for 2010 only, Duncan's four children and four grandchildren will keep an estimated $4 billion that normally would have gone ...
Congressional Agenda for 2010: Controversy and Budget Busting
By Patricia Murphy - Politics DailyWhen Congress starts its work for the year Tuesday, Democrats in Washington will begin working on two distinct types of legislation leading up to the crucial mid-term elections in 2010 -- the bills they want to do, and the bills they have to do. At the top of the list of to-do's that Democrats are eager to tackle are passing a final version of health care reform, along with a swift pivot to dealing with the economy, or as House Speaker Nancy Pelosi refers to it, "Jobs, jobs, jobs." In addition to jobs and health care, a senior aide to Senate Majority Leader Harry Reid tells Politics Daily ...
Massive To-Do List Grows As Senate Health Debate Stalls
By Patricia Murphy - Politics DailyPresident Obama has made health care reform his top legislative priority on Capitol Hill. But several time-sensitive and controversial measures are threatening to derail the Democrats' plans for health care by year's end unless the Senate can quickly pass reform legislation and attend to at least a dozen other looming bills within the next several weeks. From appropriations bills that must pass by Dec. 18 to contested portions of the USA Patriot Act, which expire on Dec. 31, to the estate tax, which will drop from 45 percent to zero on Jan. 1, the items remaining on the Senate's agenda would ...
Follow Politics Daily
POPULAR
- Nancy Pelosi Confirms House May Skip Up or Down Vote on Senate Health Bill
- Debrahlee Lorenzana: A Double Take on Those Double D's
- Campbell Brown Quits CNN With Shockingly Frank Farewell
- Palin Earnings Estimated at $12 Million
- The Five Most Racist Obama Cartoons?
- Soraya M., Stoned to Death for Being an "Inconvenient Wife''
- Jimmy Carter Leaves Church Over Treatment of Women
- No posts are available.
News From Our Partners
- Dragon arrives at space station in historic 1st
- Picking new leader, Egyptians search for superman
- Egyptians vote in first free presidential vote
- Moon chips from Vegas casino mogul sent to NASA
- Egyptians vote to rid nation of autocratic rule
- More Stories »
- 'Masters of the Universe' Sure Have Fragile Egos
- Romney: My Mistakes 'Haunt Me'
- Newt Lauds Romney: He's Like Eisenhower
- Irked Senate Panel Votes 30-0 to Cut Pakistan Aid
- GSA Bash Organizer Steps Down
- More Stories »
- Know Your Enemy
- Obama’s Challenge in Egypt
- The Edwards Waiting Game
- Are Doctors Doing Too Much?
- The Pagan Cult of Reagan
- More Stories »
- Ambition Counteracting Ambition
- Robert Blagojevich Speaks Out
- In Iowa, Obama Calls Romney's Words 'A Cow Pie of Distortion'
- In Iowa, Obama Calls On Congress to Act on Clean Energy Tax Credits
- Romney Has Interesting Morning in Inner-City Philly
- More Stories »
Top News
More News
More on Aol
Local News
More Blog/Sites
Sites and Services
HuffPost Politics