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Republicans seize on new report linking tax cuts, jobs

July 18, 2012 A new study linking tax hikes for the wealthy to the loss of more than 700,000 jobs added fuel to Republicans' near constant attacks on President Obama's plan to end tax cuts for individuals earning more than $250,000 a year. If lawmakers allow the 2001 and 2003 Bush-era tax cuts ...

Tax cut deal boosts retirement contributions for new feds

February 16, 2012 Late Wednesday night, congressional negotiators said they had reached an agreement that extended the payroll tax holiday for millions of Americans. The deal came after a roller coaster day of negotiations, less than 24 hours after a tentative agreement had been struck. The emerging compromise had earned the wrath of ...

Capital relieved as payroll measure clears House

December 23, 2011 This story has been updated. With Christmas approaching, the House of Representatives approved a temporary extension of the payroll tax cut, allaying fears that Congress would need to return before its Holiday recess ends in mid January. As late as this morning there were fears that at least one House ...

What's at stake if Congress fails this time?

December 19, 2011 Congress is threatening stalemate again, and this time the effect would be felt by millions of average Americans. Here is what's at stake if lawmakers fail to stitch together some deal to keep alive jobless benefits, the payroll tax cut, and the "Doc fix" patch. UNEMPLOYMENT INSURANCE Roughly 1.8 million ...

House repeals contractor withholding tax

November 17, 2011 In a rare show of bipartisanship, an effort to repeal a 3 percent withholding tax on government contractors passed the House by a vote of 422 to 0 just days after the bill was passed with similar bipartisan support in the Senate. The most recent version of the legislation also ...

Senate OKs bill to repeal 3 percent withholding tax for government contractors

November 10, 2011 The Senate voted 95-0 to approve a bill that would repeal a 3 percent withholding tax on government contractors. The bill also included an amendment that provides tax credits for employers that hire unemployed veterans. A version of the bill already passed the House last month but lawmakers will have ...

Kerry, McConnell whack budget adversaries on seriousness

March 7, 2011 Senate Minority Leader Mitch McConnell, R-Ky., was taken aback by Mass. Sen. John Kerry's budget remarks on Sunday on CBS's Face the Nation. Kerry said the current conversation in Congress prioritizes spending cuts over the need for economic growth, to the economy's detriment. "I don't believe what we have from ...

Watchdog: IRS stretched thin by new missions

January 6, 2011 The Internal Revenue Service's independent watchdog warned today that the tax-collection agency isn't well-equipped for its upcoming role in paying out billions of dollars in benefits under the new health insurance law. Nina E. Olson, the IRS's Taxpayer Advocate, said in a report to Congress that the tax-collection agency is ...