Congress and President Obama preserved the rules regarding Coverdell Education Savings Accounts (ESAs) when they passed the “fiscal cliff” deal. Coverdell ESAs are the lone tax break available to parents for kindergarten through twelfth grade education expenses. But beginning January 1, 2013, the accounts were going to be only useful …
Representative Mike Pompeo (R–KS) hopes his new bill calling for the repeal of all energy tax credits on both conventional and renewable energy sources will level the playing field for energy producers and consumers and prevent the government from picking “winners and losers.” The Energy Freedom and Economic Prosperity Act …
Despite all the handwringing, it appears that President Barack Obama will get what he wanted in his excessive $60.4 billion request related to Hurricane Sandy. Shortly after his request was sent to Congress, the Senate approved President Obama’s package largely intact. Last week, the House passed $9.7 billion for the …
More than 41 percent of the U.S. population is “enrolled in at least one federal assistance program,” adding tens of billions of dollars to the national debt each year, according to new research by The Heritage Foundation’s Patrick Tyrrell and William W. Beach. That means that a startling number of …
You may be wondering whether anyone, after all, went over the fiscal cliff at the end of December. News reports about Congress’s last-second legislation certainly conveyed the impression that everyone stepped away from that fateful edge. However, if you are under the age of 35, that rushing sound you hear …
New Year’s Day was tough for taxpayers. Thirteen tax increases kicked in. The deal that Congress and President Obama struck that finally—but only partially—avoided the fiscal cliff resulted in seven tax increases. Those hikes combined with six tax increases from Obamacare that also began on New Year’s Day. 13 Tax …
