Tag: ‘Highway Trust Fund’

Nine Tax Stories to Watch in 2015

By :: January 6th, 2015

So much has changed. Yet, when it comes to taxes, so much has not. Republicans have taken control of Congress and now hold governorships in 31 states. The U.S. economy is finally on solid ground. And presidential hopefuls are gearing up for the 2016 election. But for all that, the top tax stories of 2015 […]

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Cap and Trade Plans, Tax Deadlines, and Rate Drops

By :: January 5th, 2015

Washington Governor Jay Inslee proposes a statewide cap and trade program. The Democrat released details of his carbon pollution market program that would give the state’s Department of Ecology authority to set annual goals aimed at reducing emissions to half of 1990 levels. Inslee would extend the state’s sales tax exemption for alternative fuel vehicles, […]

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Now is the Perfect Time to Raise Gas Taxes

By :: November 11th, 2014

Let’s see if I have this right: Congress needs to finance highway and transit projects but can’t agree on how. The traditional revenue source is the gasoline tax. Gas prices are at their lowest levels in years and dropping. Consumers would barely notice if they had to pay a bit more now at the pump. […]

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Voters Hate Gas Tax Hikes—That's a Problem for States

By :: November 6th, 2014

On Election Day, Massachusetts voters proved once again that increasing the gas tax is a political loser. And that’s a problem. As I explain in a new Tax Policy Center brief, the federal government and most states have per-unit gas taxes. That is, they tax the number gallons purchased, not the purchase price (as sales […]

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August Avoidance: Corporate Taxes and Budget Realities

By :: August 11th, 2014

Congress is in recess. The Daily Deduction will return to its regular schedule on Monday, September 8. Until then: We’ll see you every Monday morning.  Walgreen might be the only one who’s tired of talking about inversions. The Illinois-based drugstore chain plans to keep its tax base in the US after purchasing Alliance Boots. But […]

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Does Congress Really Care About the Deficit? Not When It Comes to Vets and Highways.

By :: August 7th, 2014

Next time a lawmaker starts to pontificate about the desperate need to reduce the budget deficit, remind him (or her) about what Congress did just before it left town last week. It passed two bills that are extremely important, but didn’t pay for either of them. And they are likely to add tens of billions […]

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“You Got to Know When to Fold ‘Em”

By :: August 1st, 2014

Gambling with the Highway Trust Fund: The House always wins? As expected, the House rejected the Senate’s four-and-a-half month $8 billion highway funding patch passed earlier this week. The House returned its own 10-month $10.8 billion patch—the one that includes pension smoothing—back to the Senate. The Senate approved it last night by a vote of […]

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What’s Love Got to Do with It? Not Much, in Congress

By :: July 31st, 2014

The Senate won’t “Bring Home Jobs…” at least not through the bill that would have denied tax deductions for costs of moving corporations out of the country. The Bring Home Jobs Act needed 60 votes to pass but received only 54. The House GOP may vote to put the estate tax to death. They’ve been […]

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A Showdown, Some Backlash and Big Bets

By :: July 28th, 2014

The Highway Trust Fund is almost out of gas. Congress leaves for its month-long recess on Friday, but without legislative action the fund will run out in August. The Senate is expected to vote on the amended bill this week, though it needs 60 votes to pass. Senate Majority Leader Harry Reid had scheduled a […]

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Summer Blockbuster? Congress’ Week Is Tax-Action Packed

By :: July 21st, 2014

Another big inversion deal heads to closing. Pharmaceutical giant AbbVie agreed to purchase UK drugmaker Shire, making it the largest US company so far to move its address overseas for lower taxes. The deal, now estimated to be worth about $55 billion, will likely close despite any US action to curb inversions. The Senate may […]

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