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NEWS ABOUT: tax breaks

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McCain's Energy Record Reveals Muddled Mess

Some see pragmatism, others inconsistency in GOP candidate's votes

(Newser) - John McCain can’t seem to settle on a comprehensible energy policy, Noam Levey writes in the Los Angeles Times, noting that the Republican has been on both sides of issues from oil drilling to ethanol. He favors fuel-efficiency standards while rejecting renewable-sources guidelines and rejects tax breaks on renewables... More »

Where Will Cost of Gas Drive Us?

NYT writers ruminate on what the effects of spiraling prices will be

(Newser) - How does really expensive fuel affect you? The New York Times Op-Ed page asked 10 writers to ruminate on that question, and the responses are all over the map:
  • The lure of staying home could have workers demanding tax changes that benefit telecommuters, thinks Nicole Belson Goluboff.
  • Say goodbye to
... More »

Clinton, Obama Split on Federal Gas Tax 'Vacation'

Hillary wants to suspend it; Barack says that's shortsighted

(Newser) - Hillary Clinton has joined John McCain's call for a summer holiday from the federal gasoline tax, but Barack Obama says the move will hurt more than it helps, the New York Times reports. Clinton says she’d pay for it with a windfall-profits tax on the oil companies. “Middle-class... More »

Critics: Nonprofit Hospitals Unhealthily Rich

Tax breaks not paid back in community benefits

(Newser) - Nonprofit hospitals are making more money than for-profit hospitals, and that has many critics wondering why they get such sweet tax breaks, the Wall Street Journal reports. Seventy-seven percent of nonprofits are making money, with at least 25 pulling in more than $250 million a year. Many are spending that... More »

House Passes Bill to Halt Big Oil Tax Breaks

Veto threat as Republicans call it industry discrimination

(Newser) - Millions of dollars in tax breaks enjoyed by the top five oil companies would be rescinded under an $18 billion tax package which cleared the House of Representatives yesterday. The money saved would be plowed into creating alternative sustainable energy sources. It represents just a penny a gallon to the... More »

Bush Signs $168B Stimulus Plan

First rebates from 'booster shot for our economy' to be mailed in May

(Newser) - President Bush signed Congress’ economic stimulus bill into law today, ensuring that the tax rebates at the heart of the $168 billion plan will find their way into American bank accounts by May. The average rebate for an individual will be $600, with $1,200 for couples and a $300... More »

Senate Pitches Rival Stimulus Package

Larger rebates, more benefits still to come

(Newser) - The Senate has unveiled its own economic stimulus package, challenging the plan agreed to between House leaders and the White House. The Senate plan would give $500 to almost all Americans, rich and poor, and would extend unemployment benefits to the jobless, reports the Washington Post. Senators are also likely... More »

US to You: $600 Check's in Mail

Bipartisan compromise would put $600 in your pocket

(Newser) - Congress today announced an economic stimulus package that would put a $600 check in every American taxpayer's mailbox by early summer, sources tell CNN, and a likely $300 per child. The refunds are "there to strengthen the middle class, to create jobs and to turn this economy around,"... More »

Tax Issues Loom Over Campaign

Candidates offer differing views on 'fair tax,' extending Bush cuts

(Newser) - With President Bush’s tax cuts set to expire in 2010, tax reform could become a key issue in this year’s presidential race, the Christian Science Monitor reports. Most Republican candidates favor extending the cuts, though Mike Huckabee and Ron Paul support eliminating income tax altogether. The Democratic candidates... More »

Bush's Wins Now Could Be Trouble Later

Victories over Dems may hurt his own initiatives, raise debt

(Newser) - Christmas came early for President Bush, who’s scored a slew of recent victories over the Democratic Congress. But the wins could threaten both the federal debt and some of his own pet projects, the Washington Post speculates. Bush’s steadfast opposition to tax-increasing spending measures from Democrats could push... More »

Looming Tax Bill to Test Dem Loyalties

Bill to help middle class hurts their hedge-fund backers

(Newser) - A bill to give tax breaks to middle- and low-income people by closing loopholes that keep equity executives’ tax rates low is set for a vote this week in Congress, the Washington Post reports, forcing Democrats to choose between standing up for the common man and protecting the hedge-fund managers... More »

Buffett: I Should Pay More Taxes

'Oracle of Omaha' says scales have tipped toward the rich

(Newser) - America’s second-richest man, Warren Buffett, stood up for the little guy last night, telling NBC that he and über-wealthy people like him should pay more taxes. The system has dramatically “tilted toward the rich and away from the middle class,” he said. Surveying his office, Buffett... More »

Rangel Floats Sweeping Tax Reform Bill

Rolls back Bush cuts for wealthy; unlikely to advance soon

(Newser) - A Democratic bill unveiled today would dramatically alter the tax code, hiking taxes for those making more than $200,000 and slashing them for most others. The overhaul, which would effectively roll back Bush’s cuts for the wealthy, isn’t expected to get any traction until the White House... More »

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