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Tax Cuts

WQXR News

Obama Signs Tax Bill Into Law

Friday, December 17, 2010

President Barack Obama has signed tax legislation that will maintain current tax rates for everyone, calling it "a substantial victory for middle-class families across the country," in remarks he made just prior to signing it into law.

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WNYC News

US Senate Passes Tax Cut Package

Wednesday, December 15, 2010

The Senate has passed a $858 billion compromise tax plan by a wide margin. The vote was 81 to 19. Thirteen of those voting against the measure were Democrats, who had fought against an extension of tax breaks for the wealthy.

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It's A Free Country ®

Anthony Weiner on the Tax Compromise

Wednesday, December 15, 2010

I think sometimes fighting for what you believe in is a value in and of itself, even if you don't get every single thing you want, at least you define the issues. In this case we kind of went down with a whimper rather than a bang.

- Congressman Anthony Weiner, U.S. Representative for New York on The Brian Lehrer Show.

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WNYC News

NJ Rep Garrett Not Sold on Deal for Bush Tax Extender

Wednesday, December 15, 2010

While the Senate debates President Obama's deal with Republican leaders to extend the Bush tax cuts for two years, one high ranking local conservative Republican is pushing back.

Congressman Scott Garrett (R-NJ5) says he supports the call to extend the Bush tax cuts, but he says the $170 billion price tag to extend unemployment benefits and cut the Social Security payroll tax may be over the top when the federal government needs to reduce spending.

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Transportation Nation

TN Moving Stories: Tax Cut Bill Has Mass Transit Tax Break, and Airline Bag Fees Reap Billions

Tuesday, December 14, 2010

Tucked into the tax cut bill is a provision that would allow thousands of transit riders to save hundreds of dollars a year on their commuting costs.  And it could have a financial ripple effect. (Marketplace)

Airline bag fees brought in $4.3 billion this year. (USA Today)

NYC Transit considers taking entire subway lines out of service for equipment and maintenance. (New York Daily News)

Pennsylvania's Port Authority gets $45 million in emergency funding to postpone record-breaking Port Authority service cuts. (Pittsburgh Post-Gazette)

Right now if people charge their electric cars slowly, the grid can handle it. "But people will want faster charging, which will require bigger transformers and heavy-duty power outlets that deliver 240 volts. And running the grid will get more complicated." (NPR)

Snowplow drivers are working around the clock to keep roads passable in the Twin Cities. Snow day! (Minnesota Public Radio; slideshow)

Jet Blue was fined $600,000 by the US DOT for violating rules protecting disabled passengers, as well as failing to disclose code share information. (Washington Post)

The Asian Development Bank has approved a $1.1 billion finance package for two major transportation projects that will help ease traffic gridlock in Ho Chi Minh City, Vietnam. (AP via NPR)

When is carpooling like a the end of a big group dinner? Which Bay Area commuter will reach for their wallet first when the toll booth/check comes? Video below! (Oakland North)

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The Takeaway

Senate Passes Tax Cut Deal

Tuesday, December 14, 2010

The White House/GOP deal to extend both the across-the-board Bush-era tax cuts and unemployment benefits passed the Senate yesterday. Next stop: the House of Representatives. But unlike the Senate, the House's members on both sides are further out on the fringes, making a "yea" vote for the deal more difficult to garner. Takeaway Washington correspondent Todd Zwillich joins us to look ahead at the wrangling to come.

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The Washington Report

WQXR's The Washington Report

Monday, December 13, 2010

NYT's David Sanger and WNYC's Kerry Nolan take the pulse of Washington in the wake of Obama's tax-cut agreement.

It's A Free Country ®

Himes on Compromising and the Tax-Cut Deal

Monday, December 13, 2010

WNYC
If the Democrats in the House scuttle this thing, it's just clear as day what happens. Taxes go up on everybody on New Year's Eve. The Republicans take control of the House a week later. A week and a day later, they pass a package which I promise you, from the Democratic standpoint will be not nearly as good as what we have right now, and then they tell the story that the Democrats, a week ago, raised taxes on every single American and we came in our white horses and lowered them.

- Congressman Jim Himes of Connecticut's 4th District on the Brian Lehrer Show.

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WNYC News

9/11 Health Bill Falls Short in Senate

Thursday, December 09, 2010

Senate Republicans blocked the long-awaited 9/11 health care and compensation bill, making good on a pledge to reject all legislation until the Bush-era tax cuts are passed.

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The Takeaway

Rep. Van Hollen, Lead Dems' Deficit Negotiator, Unhappy with Tax Deal

Wednesday, December 08, 2010

In a press conference yesterday, President Obama reaffirmed his commitment to the current deal on tax cuts that has been reached between the White House and Republicans in Congress. If passed, the compromise would extend Bush-era tax cuts for two years, including those for the wealthiest households. It would also extend unemployment benefits for 13 more months and give businesses a major tax break. Economists say the deal would add $900 billion to the deficit over the next two years.

President Obama has already received strong opposition from members of his own party who believe the President is compromising too easily with Republicans. We talk with Rep. Chris Van Hollen (D-Md.), a member of the Democratic leadership who has come out in opposition to the deal.

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The Takeaway

Top of the Hour: Obama Faces Own Party on Tax Cuts, Morning Headlines

Wednesday, December 08, 2010

President Obama is facing angry members of his own party over the deal he cut with Congressional Republicans, in which Bush-era tax cuts would be temporarily extended in exchange for an extension of unemployment benefits. 

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It's A Free Country ®

How Tax Cuts Play Out County by County

Tuesday, December 07, 2010

Patchwork Nation sees wide disparities in where the wealthy live by county, and in our 12 county types, and those disparities show how the tax cut extension for all may miss the mark when it comes to getting past the lingering effects of the longest economic downturn since the Great Depression.

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It's A Free Country ®

Comments Roundup: Your Take on the Tax Cuts Deal

Tuesday, December 07, 2010

WNYC

If Obama had not cut a deal on this, you could forget about DADT, the Dream act, and more once the new congress gets in next month.

-RLewis in New York

Comments [3]

The Takeaway

Lame-Duck Congress Talks Tax Cuts, Unemployment

Tuesday, November 30, 2010

This week, Congress has two extensions on the table. While it looks likely that lawmakers will extend the Bush-era tax cuts for both the wealthy and the middle class, it seems unlikely that they will renew the extension on unemployment payments. What will the fallout be? 

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It's A Free Blog

A To-Do List for Lame Duck Dems

Monday, November 15, 2010

Congress’s lame duck session begins today. Many promises were made on the campaign trail and whether they get attention during the lame duck session will have significant consequences for Democrats in 2012.

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WNYC News

Schumer Defends Middle Class Tax Cuts

Monday, November 08, 2010

Tax breaks are on the agenda in Washington, and Senator Charles Schumer wants Democrats to focus on tax cuts that help low and middle-income earners.

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The Brian Lehrer Show

Congress and the Bush-Era Tax Cuts

Friday, November 05, 2010

David Leonhardt, writer of the "Economic Scene" column for The New York Timeslays out some options for how the lame-duck session of Congress can deal with the expiring Bush-era tax cuts.

Comments [21]

It's A Free Blog

The Day After: the Deficit War

Tuesday, November 02, 2010

On Wednesday morning, a passionate political debate on deficit reduction will begin that will be on par with the health care debate. Both parties must come to a resolution on how to slash the $1.4 trillion debt and put forth policies to reduce the staggering unemployment rate.

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WNYC News

George Soros: Don't Extend the Bush Tax Cuts

Tuesday, October 05, 2010

WNYC

Billionaire investor George Soros, who has contributed generously to Democratic campaigns, weighed into the political debate of Bush-era tax cuts, saying President Obama should let them expire.

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It's A Free Country ®

Krugman Responds to Newt's Jab

Tuesday, September 28, 2010

"Look, Krugman is an extraordinary left-wing intellectual who has no concept of how the market works. The fact is, the way we balanced budgets in the 1990s was, we cut taxes and increased economic growth."

-Newt Gingrich on The Brian Lehrer Show on September 24. 

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