The U.S. economy is on track to expand “solidly” this year, but the federal deficit is creeping up again, thanks in large part to a package of tax breaks enacted by Congress last year, officials said Tuesday.
By Kevin G. Hall, McClatchy Washington Bureau WASHINGTON — The head of the Senate’s tax-writing panel issued a statement Tuesday offering Republicans a carrot to join Democrats in blocking the ability of some U.S. corporations to shift headquarters overseas to enjoy huge tax breaks called inversions. “Following efforts in August, it’s clear there is an […]
Low-income families weren’t the only ones hurt by cuts to food stamps last fall. Top Walmart executives also took a hit. The cutbacks ate into the discount giant’s sales because so many of its low-income customers rely on this public assistance program to help pay for their groceries. And that made it tough for the company’s top brass to […]
By Maria Recio, McClatchy Washington Bureau WASHINGTON — Horse racing may be thought of as the sport of kings, but the National Thoroughbred Racing Association says breeders and stable owners need a tax break just like everybody else. Stock car racing has a regal status among its followers, but NASCAR has its hand out, too, […]
But as much as Republicans say they care about the deficit, they are not willing to raise one dime in taxes to make a deal to cut it.
After years of ranting about the deficit, Republicans celebrated the news that it had been cut by almost two-thirds by completely ignoring it and finding some other disingenuous talking point to rant about. The reduction in America’s budget overruns comes largely from the ending of some of the Bush tax breaks for the rich and […]