The President will be making a speech today from the Rose Garden (echoes of Carter?) mapping out proposed savings of $3 trillion over the next 10 years. According to the AP, the President’s new plan contains an old idea — massive tax increases: $1.5 trillion in new revenue, which would include about $800 billion realized over 10 years from repealing the Bush-era tax rates for couples | Read More »
Taxes and spending are on the House and Senate agenda for today. After the Senate passes the President’s tax deal, the House may blow up the compromise by changing the Death Tax. Later this week, Senate appropriators are reportedly trying to sneak through a massive new Omnibus spending bill. They are planning on offering an Omnibus Spending bill as a complete substitute for the Continuing Resolution, a bill to fund the | Read More »
Today starts the race the finish line for the 111th Congress. They can’t get out of town too soon. With breaking news that the invidual mandate is unconstitutional, the big issues this week will be ObamaCare, taxes and the spending issues for the year. The Senate is scheduled to continue debate on a motion to concur with respect to H.R. 4853, the vehicle for the tax compromise. A vote | Read More »
There are no votes scheduled in the House and Senate today. Finally, legislation memorializing the agreement between the White House and congressional leaders has been introduced in the Senate and provided to the American public. This legislation is titled the Reid-McConnell Amendment. Here is a PDF of a summary of the agreement on CQ (subscription required). The Senate are debating this legislation today and a vote is | Read More »
Today is check the box day in the Senate. Votes scheduled on one labor issue, one gay rights issue, one immigration reform issue, one 9/11 health care issue and one Social Security issue. None of the bills dealing with these issues are expected to pass, because all 42 Republican Senators are expected to vote against cloture on all legislative items until the tax issue is | Read More »
Conservatives disagree as to whether the tax deal cut between the White House and Capitol Hill’s leaders is a good deal for America. Some conservatives argue that the new congress could have forced a long term deal on extending tax relief permanently for all Americans. Some conservatives are happy to get some tax relief before tax season starts on January 1st and believe that it is the best we could | Read More »
Late last week, Congress passed a Continuing Resolution funding the government until December 18th. Congress has two big items left on the agenda — tax cuts and an appropriations bill funding the federal government into next year. Liberals would like to take up other issues, yet taxes and spending are the only two issues that Congress has to get done before they finally end this Lame Duck | Read More »
The White House released a video defending President Obama’s tax hike plan featuring Chairman of the Council of Economic Advisors, Austan Goolsbee. My employer, The Heritage Foundation, has fact checked the video and responded to many White House myths with our own analysis.
President Obama’s popularity is going down fast. According to Gallup, the President is especially unpopular in Wyoming (29%), Utah (34%), West Virginia (34%), Idaho (34%), Oklahoma (37%), Alaska (38%), Montana (38%), Arkansas (40%), Kentucky (40%), Tennessee (41%), New Hampshire (41%), Alabama (41%), and Missouri (41%). If you are running for House or Senate in any of these states, it may be time to start running | Read More »
President Obama is vetting a new national sales tax (commonly referred to as a VAT) to extract more wealth from the private sector to sustain his insatiable hunger for more government spending. Former Fed Chairman Paul Volcker and current Fed Chairman Ben Bernanke have commenced a vetting strategy to convince Americans that they need to give more and more money to an every-expanding and bloated | Read More »
Obama’s nominee to be the next Secretary of Health and Human Services, former Senator Tom Daschle, has tax problems according to ABC News. The controversy deals with a car and driver lent to Daschle by a wealthy Democratic friend, a chauffeur service the former senator used for years without declaring it on his taxes.
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