45ae59f6be38e421749b1804ad67ec3f Archive
When Will The Senate Permit A Stopgap Deal? Or Might Congress Expand The CTC?
September 23, 2022
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TweetShareSharePin0 Shares Schumer sets up a Senate vote for next week on a stop-gap funding bill. Lawmakers still are squabbling over the stopgap funding bill to keep the government open until mid-December. The biggest hang-up continues to be language to ease the permitting process for energy projects, a gift to Sen Joe Manchin in return
Rates And A Lawsuit | Tax Policy Center
September 22, 2022
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TweetShareSharePin0 Shares The Fed raises interest rates. Will the jobless rate follow? The Federal Reserve announced an increase of 0.75 percent to its baseline interest rate. The Fed has raised the rate five times since March and by 0.75 percent three times. Most members of The Federal Open Market Committee expect to raise interest rates
Life Insurance Abuses, Election Season Tax Cuts
September 21, 2022
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TweetShareSharePin0 Shares Wyden expands an investigation of tax avoidance through private placement life insurance (PPLI). TaxNotes reports (paywall) that Senate Finance Committee Chair Ron Wyden is expanding an investigation into PPLI abuses. They were intended as tax-advantaged savings vehicles for middle-income households. But they are being used to invest millions of dollars in hedge funds
NY Tax Collections Fall, Colombian Tax Hikes Loom
September 20, 2022
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TweetShareSharePin0 Shares New York City faces a nearly $10 billion deficit, and a fiscal crisis is on its horizon. Tourism and job losses have not yet recovered from the pandemic. City officials expect business tax revenue to decline for the first time in six years and personal income and related tax revenue will fall by
Delay Likely For The Spending Deal?
September 19, 2022
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TweetShareSharePin0 Shares Sen. Markey opposes the Schumer-Manchin side deal. Sen. Ed Markey, joining Sen. Bernie Sanders, opposes including in a stopgap spending bill changes to the nation’s permitting system for fossil fuel extraction, a provision demanded by Sen. Joe Manchin. Disagreements also remain over coronavirus aid, disaster relief, and more, creating obstacles to a deal.
Two More Weeks To Avert A Government Shutdown
September 16, 2022
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TweetShareSharePin0 Shares Is a spending deal around the corner? Speaker Nancy Pelosi signaled this week that she could support an agreement to ease permitting requirements for energy projects if it’s included in a Senate bill funding the government. The agreement, part of a deal to win Sen. Joe Manchin’s vote on the Inflation Reduction Act,
“Bring The Noise!” | Tax Policy Center
September 15, 2022
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TweetShareSharePin0 Shares IRS Whistleblower Office isn’t as “loud” as it used to be. A Senate Finance Committee report finds the IRS whistleblower program that rewards people for identifying tax cheats is strapped for cash. Since 2007, the program has generated $6.5 billion in tax collections and paid $1 billion in rewards. But congressional funding has
The Expanded CTC Lifted Nearly 3 Million Children Out Of Poverty In 2021
September 14, 2022
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TweetShareSharePin0 Shares Child poverty fell by 46 percent in 2021, thanks largely to the expanded CTC. Census Bureau data show that 5.2 percent of children were in poverty in 2021, far fewer than the 9.2 percent in 2020. Census credits much of the decline to the American Rescue Plan’s expanded child tax credit. The agency
Working On The Margins In Spending And Tax
September 13, 2022
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TweetShareSharePin0 Shares Still fighting over permitting reform in the stop-gap spending bill. Senate Majority Leader Chuck Schumer wants to include a provision to expedite the development of fossil fuel and other energy products in the temporary spending bill that must pass by Sept. 30 to avoid a government shutdown. The language is part of a
Mid-Terms Are Around The Corner
September 12, 2022
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TweetShareSharePin0 Shares One more try at an enhanced child tax credit… Source link TweetShareSharePin0 Shares
