December 5, 2012 |
WASHINGTON - Grabbing hold of an issue that affects paychecks across the country, U.S. Sen. Bob Casey will begin a push this week to extend a payroll tax cut scheduled to expire at the end of the year. The Pennsylvania Democrat is about to release a fact sheet showing that extending the cut would spare 122 million households from a tax hike next year. He plans to put the numbers front and center at a Thursday hearing on the fiscal cliff, hoping to raise the profile of an issue that has received scant attention.
March 18, 2013 |
WASHINGTON - The tax plan embedded in the House Republican budget would cut taxes by $5.7 trillion over the next decade, with the benefits flowing disproportionately to very wealthy households, according to a new analysis by the nonpartisan Tax Policy Center. Taxpayers earning more than $1 million a year would benefit the most from the GOP tax plan, the analysis shows, reaping an average $400,000 tax break that would send their after-tax income soaring by nearly 20 percent. Meanwhile, taxpayers earning between $40,000 and $50,000 a year - closer to the national average - would see their taxes cut by about $666 on average, increasing their after-tax income by less than 2 percent.
August 2, 2012 |
WASHINGTON - Mitt Romney's plan to overhaul the tax code would produce cuts for the richest 5 percent of Americans - and bigger bills for everybody else, according to an independent analysis released Wednesday. The study was conducted by researchers at the nonpartisan Tax Policy Center, a joint project of the Brookings Institution and the Urban Institute. To cover the cost of his plan - which would reduce tax rates by 20 percent, repeal the estate tax, and eliminate taxes on investment income for middle-class taxpayers - the researchers assume that Romney would go after breaks for the richest taxpayers first.
October 3, 2012 |
WASHINGTON - A typical middle-income family making $40,000 to $64,000 a year could see its taxes rise by $2,000 next year if lawmakers fail to renew a lengthy roster of tax cuts set to expire at the end of the year, according to a new report Monday. Taxpayers across the income spectrum would be hit with large tax hikes, the Tax Policy Center said in its study, with households in the top 1-percent income range seeing an average tax increase of more than $120,000, while a family making between $110,000 to $140,000 could see a tax hike in the $6,000 range.
September 21, 2011 |
WASHINGTON - President Obama says he wants to make sure millionaires are taxed at higher rates than their secretaries. The data say they already are. "Warren Buffett's secretary shouldn't pay a higher tax rate than Warren Buffett. There is no justification for it," Obama said as he announced his deficit-reduction plan this week. "It is wrong that in the United States of America, a teacher or a nurse or a construction worker who earns $50,000 should pay higher tax rates than somebody pulling in $50 million.
September 20, 2012 |
WASHINGTON - When Republican presidential nominee Mitt Romney said that 47 percent of Americans don't pay income taxes, he tapped into an increasingly common GOP criticism of the nation's tax code. Congressional Republicans have long balked that nearly half the country does not pay income taxes - a group they are targeting as lawmakers consider an overhaul of the tax code next year. GOP leaders have repeatedly said that all Americans should pay their fair share - "have some skin in the game," as Rep. Eric Cantor of Virginia, the House majority leader, has said, even if it's just $1. "More Than Half of U.S. Households Did Not Pay Any Income Tax in 2009," read the news-release headline from Sen. Orrin G. Hatch of Utah, the top Republican on the Finance Committee, as he testified at a tax hearing earlier this Congress.
May 11, 2006 |
By week's end, Republicans in Congress will send President Bush a $69 billion package to extend low tax rates for investors and temporarily spare millions of middle-class Americans from a creeping alternative minimum tax. The package, along with a pending budget plan, would worsen an already grim long-term financial outlook for the federal government by adding to future deficits. The Bush administration says the tax cuts will spur economic growth, which will yield greater tax revenue.
September 7, 2006 |
Promising tax relief for the middle class, Democratic candidate Joe Sestak chided U.S. Rep. Curt Weldon (R., Pa.) yesterday for voting for tax breaks that benefit the wealthy. But the challenger got some instruction himself from supporters gathered on the front porch of a Lansdowne home. "Be madder about it," said Charlotte Hummel, a Lansdowne fund-raiser and editor of a political newsletter. "Harness people's anger, and take it to the polls. " Sestak heard her out, then responded: "It is easy to stand up here and beat up on the rich.
August 13, 2012
There's been a blitz of TV ads in the past week paid for by Mitt Romney supporters trying to define President Obama for Pennsylvania voters. You can hardly change channels without seeing another commercial paid for by a group other than the candidate's campaign. Would it be so bad if the candidates' proxies spent as much time and money outlining the admirable traits of the person they want to be president? There's some of that, but too little. Romney, in particular, should be filling in some gaps.
December 21, 2012
IT'S BAD ENOUGH for Pennsylvania's unemployed that the state's needle on joblessness has barely budged for two years. But now they're fighting to keep from being thrown off a cliff - the so-called "fiscal cliff. " Unless Washington gets its act together before the end of the year, an estimated 115,000 jobless workers in the Keystone State will immediately stop getting unemployment checks after Dec. 31, threatening their ability to pay their bills and feed their families. That's the number that will be cut off if extended unemployment benefits - Pennsylvanians are now eligible for 63 weeks, up from the normal 26 weeks - are killed by legislative inaction.