Taxes

Sen. Marco Rubio State of the Union Republican Response Excerpt: Warning Against Increasing Spending And Taxes

February 12, 2013

“Florida Sen. Marco Rubio says in excerpts released ahead of his Republican response to Obama’s State of the Union address that he hopes the president will “abandon his obsession with raising taxes” and try to grow the economy.”

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President Obama State of the Union Address Excerpt: Job Creation Without Increasing the Deficit

February 12, 2013

“The president said his proposals to increase spending on manufacturing, infrastructure and clean-energy technologies would be fully paid for, though he did not specify in the excerpts how he would offset the cost of his proposals.”

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City of Philadelphia: Maker of Yuengling Beer Owes $6.6 Million in Back Taxes

February 7, 2013

“The city filed a lawsuit in the Court of Common Pleas on Jan. 30, saying Pottsville-based D.G. Yuengling & Son Inc. has failed to pay business-related taxes, fees and penalties since December 2008.”

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House Majority Leader Eric Cantor (R-VA) Promotes School Choice, Tax Simplification, and Strengthening Medicaid & Medicare

February 6, 2013

“Mr. Cantor said the party’s guiding principle will be that “government policy should aim to strike a balance between what is needed to advance the next generation, what we can afford, what is a federal responsibility and what is necessary to ensure our children are safe, healthy and able to reach their dreams.””

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Analysis: Corporations Fear White House Pushing For Increased Taxes

January 30, 2013

“The White House last year sought to raise at least $150 billion from multinational companies by closing tax breaks. Obama has long called for curbing tax benefits for oil and gas companies.”

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Texas Governor Rick Perry (R) Proposes Amending State Constitution Allowing Texas to Return Surplus Taxes to Citizens

January 29, 2013

“He also suggested providing at least $1.8 billion in “tax relief.” He did not offer details but invited taxpayers to submit ideas online.”

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Senate Majority Leader Harry Reid (D-NV) Proposes Increasing Tax Revenues to Help Offset Automatic Spending Cuts

January 29, 2013

“They will seek to end some tax credits and close loopholes – possibly some for oil companies – to find revenues to help replace the cuts, he said.”

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Armed Services Committee Chairman Senator Carl Levin (D-MI) Set to Re-Propose Closing Corporate Tax Loopholes

January 29, 2013

“Levin will again in coming weeks introduce legislation to close tax loopholes. It will be part of an effort to head off the sequester looming on March 1 when $85 billion in indiscriminate spending cuts will be imposed [across-the-board].”

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U.S. Federal Judge Orders UBS Bank to Release Swiss Bank Records to the Internal Revenue Service (IRS)

January 28, 2013

“They say it authorizes the IRS to issue a summons to UBS about U.S. taxpayers who may hold accounts at the Swiss bank Wegelin & Co. and other Switzerland-based banks to escape taxes.”

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White House Policy Adviser: President Obama Will Renew Push to Spur Investment in Clean Energy Projects That Create Jobs

January 25, 2013

“But Obama has continued to argue that the United States cannot fall behind in a global clean energy race dominated by countries like China,South Korea and Germany, which heavily subsidize their domestic industries.”

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White House Spokesman: President Obama Opposes a Carbon Pollution Tax Regulation

January 24, 2013

“White House spokesman Jay Carney on Wednesday confirmed that Mr. Obama would pursue stricter carbon-pollution regulations through the Environmental Protection Agency, expanding rules on carbon-emitting plants so they cover existing power plants, as well as newly built ones.”

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Aide: Top House of Representatives Republican Tax Writer to Introduce Draft on Reforming Corporate Taxes

January 24, 2013

“The proposal, expected as early as this week, will come from House Ways and Means Committee Chairman Dave Camp, whose panel has been exploring a broad tax code overhaul for more than a year.”

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Arizona Gov. Jan Brewer (R) Proposes Taxing Hospitals to Pay for Medicaid

January 20, 2013

“A conservative Republican, Brewer is believed to be the first governor to publicly come up with a way to fund the controversial Medicaid expansion.”

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Analysis: U.S. Charities Worried That Tax Reforms Will Reduce Donations

January 20, 2013

“The limits on deductions are part of the new tax law Congress passed on New Year’s Day. They reduce the value of all itemized deductions for individuals making more than $250,000 and married couples making more than $300,000.”

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U.S. Treasury Finalizes Anti-Tax Evasion Rules

January 17, 2013

“The U.S. Treasury announcement finishes the rule-writing process for the Foreign Account Tax Compliance Act, or FATCA, which Congress passed in March 2010. The final rules were expected this month after delays last year.”

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