On December 31, a set of approximately 50 tax-reducing provisions commonly referred to as the “tax extenders” expired. These provisions, which apply to both individuals and businesses, include popular measures such as the Research and Experimentation credit for businesses and the optional deduction for state and local sales taxes for …
The long-debated extenders bill failed to pass the Senate yesterday by a wide margin (45-52). That’s good new for taxpayers because the bill contained $48 billion in new taxes, $126 billion in new spending and added $79 billion to the national debt. Despite yesterday’s setback, Senate leaders are undeterred and …
Monday, Senate Majority Leader Harry Reid (D-NV) filed cloture on the tax extenders package. The bill would extend a variety of tax provisions that expire yearly and require Congress to pass them annually to prevent tax increases for many taxpayers, further extend unemployment benefits, and prevent a 21 percent decrease …
Congress is at it again, spending more taxpayer money and significantly adding to the deficit in the process. This latest bout of irresponsible spending is $174 billion tacked on to an otherwise necessary bill to extend long-established, mostly sensible tax-reducing provisions known as the “tax extenders.” The legislation, dubbed Stimulus …
