Tag: ‘Highway Trust Fund’

One more step for equality, and two views on state EITCs

By :: June 29th, 2015

Congress is in recess. The Daily Deduction will return to its regular schedule on Monday, July 6. Wyden promises tax changes in the wake of the Supreme Court’s decision on same-sex marriage. Following the Obergefell v. Hodges decision, senior Senate Finance Committee Democrat Ron Wyden said Friday, “As lawmakers, we must now turn our attention […]

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No Breaks, Less Sugar, and More Refunds

By :: June 22nd, 2015

Texas Governor Greg Abbott says “no” to a tax break for big corporations. The Republican just vetoed a bill aimed at expanding a tax incentive for wind farms and petrochemical firms along the Gulf Coast. Subsidy backers claim it helps the firms generate jobs, but Abbott doesn’t think it’s worth the money. A 2013 study […]

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When does “repeal” mean “reform?”

By :: June 19th, 2015

Another presidential candidate floats a flat tax, but would it sink under its own weight? This time it’s GOP contender Rand Paul. He’d replace the tax code with 14.5 percent in federal tax on all personal income, including wages, investment income, and rents. He’d repeal the Social Security and Medicare payroll tax but tax wages […]

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“We’re [still] on a road to nowhere.”

By :: June 12th, 2015

What might happen to federal highway funding? Clues next week? Both tax-writing committees will hold hearings on long-term funding for the Highway Trust Fund. The House Ways & Means Committee will hold its hearing on Wednesday. The Finance panel will meet on Thursday. The Fund currently relies on the 18-cents-per-gallon federal gasoline tax but spending […]

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While Washington’s Efforts to Fund Roads Go Nowhere, Red States Are Raising Gas Taxes

By :: June 11th, 2015

In about six weeks, federal money to keep the Highway Trust Fund going will once again dry up and Congress will begin its predictable scramble to keep cash flowing to roads, bridges, and transit projects. The reason for the gridlock: Neither Congress nor President Obama is willing to back a gas tax sufficient to fund the program, and […]

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On Exercises in Futility

By :: June 5th, 2015

The drive to a Highway Funding bill heads toward a cliff: The sequel. Congressional Democrats are digging in their heels and insisting that Republicans find a long-term solution to highway funding. That would force the GOP to come up with either tens of billions for a long-term bill or approximately $2 billion-a-month to keep asphalt […]

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Raising Taxes to Fuel, Fly, and… Drink?

By :: March 13th, 2015

Have taxes, will travel. The American Road & Transportation Builders Association wants Congress to raise the federal gas tax by 15 cents a gallon to generate $401 billion in new transportation funding. Money for the Highway Trust Fund dries up in May. The group suggests the tax be offset with a federal tax rebate for middle […]

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Corporate Tax Reform: Some Agreement, But Is Agreement Enough?

By :: February 5th, 2015

The President’s plan for corporate tax reform: Incomplete. TPC’s Howard Gleckman explains that while Obama’s budget renewed his call for cutting corporate tax rates, he again failed to show how he’d pay for most of the effort. He’s budgeted $141 billion for corporate tax reform over 10 years, but that covers less than 3 percent […]

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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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