Bush tax cuts

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How Congress Can Fix Deficit—by Doing Nothing

The expiring Bush tax cuts provide a way: David Leonhardt

(Newser) - This deficit-cutting stuff doesn't always have to be complicated. David Leonhardt lays out a plausible way for lawmakers to make a big dent without lifting a finger. It's all about the Bush tax cuts, which are due to expire at the end of 2012. "They have created a way...

Obama's Deficit Plan: Raise Taxes on Rich

White House to take stand on deficit on Wednesday

(Newser) - President Obama will weigh in on the deficit in a speech this Wednesday, calling for cuts to entitlement programs as well as a tax increase for the wealthy. Alongside calls for reductions in Medicare and Medicaid and a new plan for Social Security, the president will propose raising taxes on...

CBO: Deficit to Hit Record $1.5T

Thanks to tax cut, unemployment extensions

(Newser) - New budget estimates released today predict the government's deficit will hit almost $1.5 trillion this year, a new record. The daunting numbers mean that the government will have to borrow 40 cents for every dollar it spends. The latest figures are up from previous estimates because of bipartisan legislation...

Calif. Man Busted for Threat to Kill Congressman

Jim McDermott threatened over opposition to tax cuts

(Newser) - A California man has been arrested for making threatening phone calls to Democratic Rep. Jim McDermott over his stance on extending tax cuts. "Thomas Jefferson, James Madison, or George Washington—if any of them had ever met Jim McDermott, they would all blow his brains out. They’d shoot...

Congress Has Only One Option in 2011: Deal
Congress Has Only
One Option in 2011: Deal
opinion
Dec 27, 2010 12:08 PM CST

Congress Has Only One Option in 2011: Deal

Tax cut agreement paves the way: Sununu

(Newser) - There are only two ways of getting anything done in Washington: You can "drive" legislation through or you can make a "deal," writes former New Hampshire Sen. John Sununu in the Boston Globe . To use the "drive" technique, the party leadership in both houses lend their...

Most Productive Congress Since 1960s Adjourns

111th passed vast legislation in 'dysfunctional' environment

(Newser) - The 111th Congress adjourned last night, after passing more key legislation that affected more Americans than any since Lyndon Johnson’s 1960s “Great Society,” Bloomberg reports. That included $1.67 trillion spent to save the economy, health insurance for 32 million people, and new regulations on Wall Street;...

Larry David: My Life Is Glorious Thanks to the Tax Cut

He's gonna fly first class! And eat blueberries!

(Newser) - The Bush tax cuts have been extended for the wealthiest earners, and one of those wealthy earners is Larry David. “There is a God!” the Seinfeld co-creator proclaims in an op-ed for the New York Times . “I’m the last person in the world I’d want...

Biden: We Did Go to Mat on Tax Cuts
Biden: We Did Go
to Mat on Tax Cuts
TALK SHOW ROUNDUP
Dec 19, 2010 11:11 AM CST

Biden: We Did Go to Mat on Tax Cuts

Meanwhile, back at the New START treaty, time grows short

(Newser) - President Obama's tax-cut compromise took more than a few kicks in the teeth from the left, but Joe Biden has had enough: "We did go to the mat. A total of 130 races, I made this case. We got to the end, we couldn’t get it done, and...

President Obama Signs Massive Tax Bill
President Obama Signs Massive Tax Bill
it's official
Dec 17, 2010 3:30 PM CST

President Obama Signs Massive Tax Bill

He praises $858B tax cut deal

(Newser) - The Bush tax cuts live on. President Barack Obama signed the $858 billion tax bill today, praising the new law as a "substantial victory for middle-class families across the country." Before signing the bill, the president reiterated that "there are some elements of this legislation that I...

Forget Clinton, Obama's the Real Comeback Kid
Forget Clinton, Obama's
the Real Comeback Kid
charles krauthammer
Dec 17, 2010 9:08 AM CST

Forget Clinton, Obama's the Real Comeback Kid

Charles Krauthammer: His tax deal makes it likely he'll be re-elected

(Newser) - You think Bill Clinton is the master of political comebacks? It took President Obama all of five weeks to go from political corpse to likely two-term president, writes Charles Krauthammer. It's all thanks to his "stunning" tax deal (Krauthammer marveled at it last week, too ) and his return...

House Passes Sweeping Tax Bill
House Passes
Sweeping Tax Bill
tax cut deal
Dec 17, 2010 7:56 AM CST

House Passes Sweeping Tax Bill

Tax cut package sent to Obama's desk

(Newser) - The House of Representatives, acting with uncommon speed, has given final approval to a bipartisan bill that will avoid a scheduled rise in income taxes for millions on the first of January. The vote was 277-148 late last night on the legislation, which is the result of a compromise between...

Pelosi Scrambles for Tax Vote Tonight or Tomorrow

Liberals want amendment on estate tax

(Newser) - Call it what you will—"liberal fury" ( Politico ), "liberal insurrection" ( the Hill ), "liberal uprising" ( Washington Post )—Nancy Pelosi is pretty sure she can deal with it and have the House vote on the overall tax deal tonight or tomorrow. The measure...

Lame Duck Congress Looks to Pass All or Nothing

If House doesn't approve tax deal, nothing will get done

(Newser) - Congress is about to pass lots of major legislation—or nothing at all. The House’s dilemma: If it tries to change the Senate’s $858 billion tax bill, the Senate won’t have time to vote on repealing Don’t Ask, Don’t Tell, the DREAM Act, START, or...

Senate Passes Tax-Cut Deal 81-19
Senate Passes
Tax-Cut Deal 81-19
Dec 15, 2010 1:01 PM CST

Senate Passes Tax-Cut Deal 81-19

Heads for tougher fight in the House

(Newser) - President Obama's compromise tax deal with Republicans—a package of cuts that would add nearly a trillion dollars to the US debt—won approval in the Senate today in a 81-19 vote. The measure still faces stiff opposition in the House where Democrats see it as overgenerous to the wealthy....

Tax Deal Is First Debate of 2012 Presidential Race: Sarah Palin, Mitt Romney Face Off Against Mike Huckabee, Newt Gingrich, Others
First Debate for
GOP 2012: Tax Deal
Dec 15, 2010 10:57 AM CST

First Debate for GOP 2012: Tax Deal

Tea Partiers hate it, mainstream contenders support it

(Newser) - There’s still a while to go before the official 2012 debates begin—but we have the first unofficial one on our hands, in the form of President Obama’s tax deal. Despite strong support in a vote Monday (only five Republican senators voted against it), 2012 contenders are drawing...

House Dems Push for Higher Estate Tax

They want to return it to 2009 levels

(Newser) - House Democrats are likely to pass the president’s tax cut deal, but not before changing its estate tax provision. House resolve to block the bill has largely faded in the wake of a strong Senate test vote. But after meeting with rank-and-file members yesterday, senior Democrats tell the Washington ...

America Stuck With a Temporary Tax Code
America Stuck With a
Temporary Tax Code
Analysis
Dec 14, 2010 8:21 AM CST

America Stuck With a Temporary Tax Code

Businesses complain of uncertainty

(Newser) - Once upon a time—in the late 1990s—there were only a few dozen temporary tax provisions requiring regular renewal. Now there are 141, and if Congress does indeed pass the proposed two-year extension of the Bush tax cuts, the whole income tax system will essentially be a temporary provision,...

Obama's Next 'Cave-In': Social Security
Obama's Next 'Cave-In':
Social Security
OPINION
Dec 13, 2010 6:23 PM CST

Obama's Next 'Cave-In': Social Security

Deficit commission, tax cut deal set course for disaster

(Newser) - President Obama already caved on tax cuts, and next up is Social Security, writes Robert Kuttner on the Huffington Post . The tax cut deal will increase the deficit by some $900 billion—offering more leverage to deficit hawks and “adding to the artificial hysteria that Social Security is going...

Tax Cut Deal Garners 60 Votes in Senate

Measure could go to House tomorrow

(Newser) - Legislation to avert a Jan. 1 increase in US income tax rates has gained 60 votes in the Senate, the level needed to advance toward a final vote. The roll call is continuing, and the test vote is not final. But the bipartisan show of support is a strong indication...

69% of Americans Support Obama's Tax Deal

Even when confronted with deficit issues, support only drops to 62%

(Newser) - Bernie Sanders may not like President Obama's tax deal, but most of America supports it. A new ABC News /Washington Post poll shows 69% support the tax-and-benefits package and only 29% oppose it. Even when confronted with the fact that it could add $900 billion to the deficit, the level...

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