News
Politico | Obama, Hill Dems differ on taxes
President Barack Obama has made his tax position abundantly clear: Let the tax rates for the wealthiest Americans expire at year’s end. But on Capitol Hill, some in his own party are ready to make a deal.
Politico | Ways and Means to meet privately Thursday
House Ways and Means Committee members of both parties will hold a rare private meeting Thursday to discuss the mess of tax provisions expiring at the end of the year, several sources told POLITICO.
Econ Comments & Analysis
Politico | End of payroll tax cut: $125 billion hit to economy
In February, President Barack Obama joined Democrats and Republicans on Capitol Hill in championing a payroll tax holiday that would help boost the moribund economy. But now, that tax break has fallen largely off the radar — and ending it could take $125 billion out of the economy next year alone.
CRS | Carbon Tax: Deficit Reduction and Other Considerations
The federal budget deficit has exceeded $1 trillion annually in each fiscal year since 2009, and deficits are projected to continue. Over time, unsustainable deficits can lead to reduced savings for investment, higher interest rates, and higher levels of inflation.
Blogs
Heritage Foundation | Congressional Research Service Wrongly Implies Lower Tax Rates Don’t Strengthen Economy
The Congressional Research Service (CRS) set out to make a convincing case that lower income tax rates do not strengthen the economy. It failed, but in so doing, it called into question the quality of CRS analysis and the institution’s credibility as non-partisan.
