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Washington Hotline October 2010 Week 1

October – Week 1 – 2010 Congress Adjourns with Unfinished Business On September 29th, the House of Representatives passed H.R. 3081 and provided for continuing federal government operations until December 3, 2010. President Barack Obama signed the bill on September 30th and government operations will continue until December using last year’s budget. Following the November […]

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WASHINGTON HOTLINE

WASHINGTON HOTLINE On a national media program on July 25, 2010, Treasury Secretary Timothy Geithner emphasized that the Obama administration plans to increase the tax rates for the top two brackets. When asked whether the 2001/2003 tax reductions should be extended for all brackets, Secretary Geithner stated, “I don’t believe they should and I don’t […]

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WASHINGTON HOTLINE

WASHINGTON HOTLINE Members of both Parties joined the debate this week on income taxes. Without action by Congress, all of the tax reductions in the 2001/2003 tax acts will be phased out on January 1, 2011. The White House has steadfastly maintained that the reductions for lower and middle-income brackets should be retained, while the […]

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WASHINGTON HOTLINE

WASHINGTON HOTLINE The Senate Finance Committee conducted a hearing on July 14, 2010 to discuss the potential extension of tax cuts. In the Economic Growth and Tax Relief Reconciliation Act of 2001 (EGTRRA) and the Jobs and Growth Tax Relief Reconciliation Act of 2003 (JGTRRA), there were tax reductions for nearly all Americans. The tax […]

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