February 28, 2014 |
It turns out that Democrats may not be the biggest stumbling block facing Rep. Dave Camp's ambitious proposal to simplify the tax code and reduce rates. Many of Camp's Republican colleagues, convinced that their party is poised to make big gains in the November elections, don't want to take up something as controversial as a tax code overhaul this year. And Camp's bill raised hackles among some important GOP donors by targeting them for tax hikes. As soon as Camp, the chairman of the House Ways and Means Committee, unveiled his magnum opus Wednesday, his brethren started backing away from it. Although it's as thorough a rewriting of the code as you're likely to see, the GOP leadership didn't assign it the bill number they had reserved for tax-reform legislation, HR 1, signifying that Camp's proposal was anything but a consensus document.
January 29, 2014 |
One way of measuring a president's agenda is by what he highlights in his State of the Union address. Another is by noticing what got left out. President Obama recycled a long list of old but unattained goals in his speech Tuesday: a higher federal minimum wage, early childhood education, immigration reform, tax reform, infrastructure spending, gun control, legislation to close the wage gap between men and women, and closing the detention center...
CALIFORNIA | LOCAL
January 22, 2014 |
SACRAMENTO - So the state of the state's governor is static - at least until he is safely reelected. Until the election year blows over, Gov. Jerry Brown is stationary - in a crouch, protecting himself politically, satisfied with the status quo. In his 30th year in elective office - 12th as governor, after failing in three bids for the presidency and one for the U.S. Senate, and growing up watching his politician father - Brown is instinctively cautious...
August 19, 2013 |
A tax reform fact-finding tour being conducted by two prominent politicians arrives in Silicon Valley on Monday to hear from technology leaders. Senate Finance Committee Chairman Max Baucus (D-Mont.) and House Ways and Means Committee Chairman Dave Camp (R-Mich.) will visit Square in San Francisco on Monday and Intel in Santa Clara on Tuesday. At the second event, Intel Chief Financial Officer Stacy Smith will host the pair for a question and answer session with employees. PHOTOS: The 10 biggest tech gadget fails The Silicon Valley stop is the third in a kind of listening tour the two chairs of Congress' tax-writing committees are conducting as they seek to build consensus of the nation's tax codes. So far, they have barnstormed Minnesota's twin cities, Pennsylvania and New Jersey.
August 9, 2013 |
WASHINGTON - Since Congress has taken off on its annual summer recess, you might assume that nothing is happening on Capitol Hill that could affect the taxes you pay on your home. Quite the reverse. Staff members of the House and Senate tax-writing committees are busy putting together legislative drafts that may determine the fate of real estate's most prized tax benefits - first and second home-mortgage interest deductions, property tax write-offs, capital gains exclusions and others.
July 5, 2013 |
Back in mid-2009, when policymakers finally seemed to grasp how severe the recession was, economists at the Congressional Budget Office warned that it would take the country about six years to return to full employment. Almost four years have passed since the jobless rate peaked at 10%, and we're less than halfway back to the unemployment rates seen before the Wall Street meltdown. And that's despite the fact that the workforce has shrunk, thanks in part to retirements and more people going to school full time instead of looking for jobs.