Kicking the can is the least repugnant remaining resolution to the fiscal cliff. The only alternatives appear to be the Republicans’ unconditional surrender on income tax rates (and conceding their principles) or simply going over the cliff. The story is now a familiar one. Congress and the President conspire to …
Check out and share our new infographic on the impact of Taxmageddon.
The U.S. House of Representatives will likely vote tomorrow to continue about 50 expiring tax incentives known as “tax extenders.” It must do so each year to prevent significant tax increases for some taxpayers. This year, however, the House will likely pass increases in other taxes to offset the supposed …
The Senate budget resolution, which will be voted on later this week, is quite similar to the House budget resolution, which the Heritage Foundation analyzed yesterday. Heritage Foundation Senior Policy Analyst Brian Riedl notes: “While the House budget would raise taxes by $1.265 trillion over five years, and $3.911 trillion …
Rep. Baron Hill, a Blue Dog Democrat from Indiana, voiced concern today about the rush for Congress to pass an economic stimulus plan. During the question-and-answer portion of this morning’s hearing before the Joint Economic Committee, Hill noted that Democrats violated PAYGO rules when they passed a one-year freeze for …
