Keyword: taxbreaks

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  • Few critics as Nevada mulls Tesla tax breaks

    09/10/2014 10:40:41 PM PDT · by Olog-hai · 16 replies
    Associated Press ^ | Sep 11, 2014 1:13 AM EDT | Scott Sonner
    Critics say Nevada lawmakers are gambling with taxpayers’ money, but they clearly were in the minority Wednesday night as legislators moved forward with an unprecedented package of up to $1.3 billion in incentives they hope to approve in the days ahead to bring Tesla Motors’ $5 billion battery factory to the state. Republican Gov. Brian Sandoval urged legislators in the two Democrat-controlled houses to seize an “extraordinary opportunity” to land the electric car maker’s “gigafactory” and the tens of thousands of jobs he said would help pull Nevada from the worst economic crisis in state history. Legislative leaders, who convened...
  • Tesla Needs $3B in Tax Breaks for New Battery Factory

    09/04/2014 11:15:35 AM PDT · by jazusamo · 50 replies
    Fox Business ^ | September 4, 2014 | Elizabeth McDonald
    Nevada looks to be the winner for Tesla Motors’ (TSLA) new $5 billion battery factory, but the win comes at a cost for state taxpayers. Tesla is seeking up to $3 billion in new tax breaks to help fund about half of its cost for the new battery factory, which Tesla has already disclosed in regulatory filings would be located outside Reno, Nev., about 235 miles from its auto assembly plant in the San Francisco Bay area. “The total capital expenditures associated with the gigafactory through 2020 are expected to be $4-5 billion (sic), of which approximately $2 billion is...
  • EU to launch corporate tax probe into Ireland and others

    06/11/2014 6:53:35 AM PDT · by Olog-hai · 4 replies
    EU Observer ^ | 06/11/2014 @ 09:28 | Benjamin Fox
    The European Commission is to launch a formal investigation into whether tax breaks used to attract international companies breach the EU’s state aid rules. The probe, which is likely to target Ireland, Luxembourg and the Netherlands, is set to be announced at a news conference on Wednesday (11 June) by EU competition chief Joaquin Almunia. Irish broadcaster RTE on Tuesday reported the launch of an investigation into the arrangements of US-based software giant Apple, but EU officials have also been gathering information on tax deals in Luxembourg and the Netherlands since last autumn. EU countries have promised to crack down...
  • End Crony Capitalism, Sell Federal Land, Limit Tax Breaks for the Rich

    05/23/2014 6:08:55 AM PDT · by Kaslin · 27 replies
    Townhall.com ^ | May 22, 2014 | Michael Barone
    Gummit don't work good. That conclusion, often that inelegantly expressed, seems to be more and more common, not only in the United States but around the world. It is certainly the verdict of John Micklethwait and Adrian Wooldridge in their new book "The Fourth Revolution: The Global Race to Reinvent the State," although expressed, as you might expect from the editor and business editor of the Economist, in far more urbane language. Their thesis is that the state has been reinvented three times in the last 400 years, and needs reinvention once more. The first revolution they name after Thomas...
  • Republicans block bill to renew expired tax breaks

    05/15/2014 11:40:52 PM PDT · by Olog-hai · 1 replies
    Associated Press ^ | May 15, 2014 5:41 PM EDT | Stephen Ohlemacher
    Senate Republicans blocked a bill Thursday that would renew more than 50 expired tax breaks affecting millions of businesses and individuals. The bill has widespread bipartisan support, but Republicans were unhappy because Senate Majority Leader Harry Reid, D-Nev., wouldn’t agree to vote on GOP amendments. A similar dispute derailed an energy bill earlier this week. […] Republican amendments included making some of the tax cuts permanent while adding others, including the repeal of a medical device tax that helps fund President Barack Obama’s health care law. …
  • Hollywood Losing Movies and Jobs Due to Tax Incentives

    03/22/2014 4:14:07 PM PDT · by rightwingerpatriot · 28 replies
    Rightwingpatriot.com ^ | March 22, 2014 | Rightwingerpatriot
    It appears that Hollywood is in a lot of trouble, not to mention California as a whole. California offers a paltry amount of tax incentives for filming within the state as opposed to most other states or even a number of countries. In fact, California's tax incentive program for the film and television industry currently stands at $100 million annually while New York's program is at $420 million. Some states don't even have a cap. What this means is that Hollywood is fleeing Tinsletown to film out of state, which is costing California billions of dollars and tens of thousands...
  • Actor Adam Baldwin: If we accept same-sex ‘marriage’, why not let fathers marry sons for tax breaks?

    02/25/2014 7:44:37 PM PST · by ReformationFan · 94 replies
    LifeSiteNews ^ | 2-24-14 | Kirsten Andersen
    Adam Baldwin, an actor best known for his performances in Full Metal Jacket, The Patriot and Firefly, outraged homosexual activists last week by questioning why marriage redefinition should not apply to single fathers who love their sons and want to enjoy all the tax benefits of marriage. “What's wrong, now, with a father marrying his son for love & to avoid tax penalties?” Baldwin wrote on Twitter. The actor has earned a spot on many liberal ‘enemies lists’ by using the micro-blogging site to share his outspokenly conservative opinions on pro-life, family and second amendment issues. Baldwin received an avalanche...
  • Cabinet to Approve Benefits to Residents of South

    12/28/2013 10:23:39 PM PST · by Eleutheria5 · 1 replies
    Arutz Sheva ^ | 29/12/13 | Elad Benari
    Prime Minister Binyamin Netanyahu will on Sunday submit for Cabinet approval a 166 million shekel plan for economic benefits for Sderot and the area adjacent to Gaza. The Prime Minister’s Office said in a statement that the goal of the plan is to strengthen residents, local authorities and the regional economy in light of the security situation and the difficulties regarding daily life. The 2014 plan includes a series of benefits for residents of the area: Tax benefits, local property tax benefits, exemptions from leasing fees, daycare benefits, investments in infrastructures and local authorities, benefits for industry, agriculture, trade and...
  • 'Special Interest' Campaign Rhetoric Doesn't Match With Reality

    09/12/2013 1:48:26 PM PDT · by MichCapCon · 3 replies
    CapCon ^ | 9/10/2013 | Tom Gantert
    Despite the gubernatorial election being more than a year away, Michigan voters already are being inundated with campaign promises and statements that often aren't tied to reality. Democratic challenger Mark Schauer, for example, launched his campaign with comments directed at stopping "special interests." "It's time to build an economy that works for everyone, not just the special interests,” Schauer was quoted as saying in an MLive story in May. Rallying against special interests is a common political theme and a bipartisan complaint made by candidates. Gov. Snyder campaigned on extensively curtailing the state's economic development tools, many of which dole...
  • Tax Breaks Don't Unfairly Benefit The Wealthy

    05/31/2013 4:29:09 AM PDT · by IBD editorial writer · 26 replies
    Investor's Business Daily ^ | 05/30/2013 | John Merline
    A new Congressional Budget Office report shows that the rich get most of the benefit from various deductions and credits in the tax code, music to the ears of the soak-the-rich crowd. But since the wealthy pay nearly all the nation's income taxes, this is hardly a sign of unfairness. According to the CBO report, the government "spends" about $900 billion through deductions, exclusions, special tax rates and tax credits, with more than half going to the wealthiest 20% of households, while just 8% goes to the bottom fifth. Democrats, who ordered the report, celebrated the news, since it appears...
  • Perform Criminal Background Checks at Your Peril

    02/16/2013 3:38:58 PM PST · by a5478 · 55 replies
    Wall Street Journal ^ | February 14, 2013 | James Bovard
    The EEOC ignored that judicial thrashing and pressed on. Last April, the agency unveiled its "Enforcement Guidance on the Consideration of arrest and Conviction Records in Employment Decisions," declaring that "criminal record exclusions have a disparate impact based on race and national origin."
  • New York Times investigation uncovers federalism

    12/03/2012 5:33:04 AM PST · by smokingfrog · 33 replies
    Daily Caller ^ | 12-3-12 | Jeb Golinkin
    A New York Times investigation has uncovered a shocking scandal they would have you believe involves big corporations blackmailing your state government and stealing tax dollars that should be spent on public education. This scandal, though not identified as such in the article, is called federalism. It finds its roots in the 10th Amendment of the United States Constitution. Granted, the statistical research The Times provides in the piece is invaluable, but the article is confused as to the conclusions that flow from the numbers. The most glaring statistic is the dollar amount of “gifts” (to use Mitt Romney’s phrase)...
  • Do Undecided Voters Use the Internet?

    09/09/2012 11:19:45 AM PDT · by Cincinatus' Wife · 8 replies
    Ricochet ^ | September 9, 2012 | George Savage
    Scanning my newspaper over coffee this morning, an Associated Press story from the campaign trail leapt off the page: >>>SEMINOLE, Fla. -- Eager to change the subject after a dismal jobs report, President Barack Obama tried to rekindle some of the enthusiasm of his 2008 campaign Saturday with a bus tour through a must-win swath of Florida, urging supporters not to "buy into the cynicism that somehow the change we fought for isn't possible." Republican candidate Mitt Romney faulted both his own party in Congress and Obama for exposing the armed forces to huge spending cuts.<<< Obama, speaking to a...
  • New Bill Proposes To Extend Wind Energy PTC, Slash Oil Subsidies

    05/01/2012 10:21:24 PM PDT · by smokingfrog · 11 replies
    nawindpower.com ^ | 1 May 2012 | Laura DiMungo
    A group of Democrats in the U.S. House of Representatives has introduced new legislation that would extend a number of incentives for wind power and other forms of renewable energy while stripping subsidies for fossil fuels. The bill - Investing to Modernize the Production of American Clean Energy and Technology (IMPACT Act) - introduced by Reps. Ed Markey, D-Mass.; Henry Waxman, D-Calif.; John Larson, D-Conn.; Earl Blumenauer, D-Ore.; and Bill Pascrell Jr.; D-N.J. - proposes an eight-year extension to the production tax credit (PTC) for wind, solar, geothermal, biomass, landfill gas, hydropower, and marine and hydrokinetic power production. Notably, however,...
  • Senate rejects Obama demand for end to oil tax breaks

    03/29/2012 10:24:21 AM PDT · by jazusamo · 24 replies
    The Washington Times ^ | March 29, 2012 | Susan Crabtree
    President Obama on Thursday called for Congress to jettison $4 billion in annual subsidies to oil and gas companies, but minutes later the Senate blocked just such a proposal. The 51-47 vote, which fell nine shy of the 60 needed to advance in the Senate, likely shelves the plan for this year, but gives both parties a political issue heading into November’s elections. Mr. Obama, in a Rose Garden speech, said the oil subsidies should be cut so the money can be put into his priorities. “We should be using that money to double down on clean-energy technologies that have...
  • Obama plan will end dozens of business tax breaks: Geithner

    02/14/2012 2:10:24 PM PST · by NormsRevenge · 18 replies
    Yahoo ^ | 2/14/12 | Kim Dixon and Rachelle Younglai - Reuters
    WASHINGTON (Reuters) - The Obama administration's corporate tax reform plan will end "dozens and dozens" of tax breaks, U.S. Treasury Secretary Timothy Geithner said on Tuesday as he defended the White House's election-year call for higher taxes on the wealthy. Within days, the administration is set to unveil a blueprint for revamping the corporate tax system aimed at leveling the playing field for all companies, which pay wildly differing levels of taxes, while lowering the top corporate tax rate. Companies are clamoring for a cut in the top 35 percent corporate tax rate but disagree about how to how eliminate...
  • Gallup: Republicans, Democrats Favor Tax Breaks to Win Back U.S. Jobs

    02/02/2012 6:53:49 AM PST · by SeekAndFind · 2 replies
    Gallup ^ | 02/02/2012 | by Lymari Morales
    Among five specific economic proposals, both Republicans and Democrats are in favor of giving tax breaks to corporations that bring manufacturing jobs back from overseas and pressuring China for fairer trade. They are sharply divided about increasing federal income taxes on upper-income Americans, increasing federal spending to help the long-term unemployed find jobs, and increasing federal spending on the development of alternative energy sources. The majority of independents favor all proposals. The findings are from a Gallup poll conducted Jan. 23, 2012, to gauge support for specific economic proposals Obama was expected to raise during his State of the Union...
  • Official: NBC Sports relocating to Connecticut

    10/21/2011 1:04:53 PM PDT · by george76 · 25 replies
    AP ^ | October 21, 2011 | STEPHEN SINGER
    — NBC Sports has agreed to move from New York City to Stamford to take advantage of tax breaks, adding to a growing film and TV presence in the southwestern Connecticut city, a state official said Friday. The agreement, which could bring hundreds of jobs, would be part of Gov. Dannel P. Malloy's signature economic development program, according to the official, who spoke on condition of anonymity because Malloy and Democratic leaders of the legislature hope to announce a deal next week. ... A city of 117,000 people, Stamford breathed a sigh of relief in August when financial services giant...
  • Foreign earnings tax break could add 2.9 million jobs, study says

    09/20/2011 7:40:06 AM PDT · by SeekAndFind · 7 replies · 1+ views
    Los Angeles Times ^ | 09/08/2011 | Jim Puzzanghera
    A huge, one-time tax break to lure back about half of the $1.4 trillion in earnings held abroad by U.S. companies would produce nearly 3 million jobs nationwide over two years, according to a study by the U.S. Chamber of Commerce. A so-called repatriation tax break, which would temporarily reduce the tax rate on foreign earnings to 5.25% from 35%, has been pushed by the chamber and major U.S. corporations, including Cisco Systems Inc. and Oracle Corp. Many Republicans support the move, as do some Democrats, who have been pushing President Obama to include such a proposal in the $300-billion...
  • Tax Breaks for the Yachting Class....Oldie but Goodie from 1999.

    08/10/2011 3:36:14 PM PDT · by schaef21 · 5 replies
    Jewish World Review ^ | 10/28/1999 | George Will
    .....The Omnibus Budget Reconciliation Act of 1990 was the budget agreement by which President Bush broke his "read-my-lips" vow not to agree to new taxes. The act was, as omnibus bills tend to be, an eye-of-newt-and-hair-of-toad brew of this and that and some other things, and it included--in the name of fairness, of course--a stern tax on "luxury items." Those items included automobiles, aircraft, jewelry and furs over certain prices. And yachts costing more than $100,000. In 1990 there were no luxury excise taxes, all of them having been repealed in 1965. But perhaps every quarter-century or so government--it cannot...
  • Oil “subsidy” and “tax breaks” nonsense

    05/21/2011 7:53:48 AM PDT · by Kaslin · 15 replies · 1+ views
    Townhall.com ^ | May 21, 2011 | Paul Driessen
    President Obama frequently says Americans "need to end our $4 billion in annual taxpayer subsidies to oil companies." The latest Democrat bill would have repealed some $2 billion of what Senator Charles Schumer (D-NY) and others call "subsidies" and "special tax breaks" for Big Oil. That’s baloney – shameless demagoguery that will inflict further damage on our struggling economy. Subsidies are cash payments from government to the private sector. Money is taken from the 51% of Americans who still pay income taxes – and transferred by legislators and bureaucrats to companies and activities that "deserve" or "require" these wealth transfers,...
  • Senate blocks bill repealing $2B in oil tax breaks

    05/17/2011 4:44:12 PM PDT · by PROCON · 47 replies
    AP ^ | May 17, 2011 | STEPHEN OHLEMACHER
    WASHINGTON (AP) - The Senate blocked a bill Tuesday that would repeal about $2 billion a year in tax breaks for the five biggest oil companies, a Democratic response to $4-a-gallon gasoline that might fare better when Congress and the White House negotiate a deal later this year to increase the government's ability to borrow.
  • Oil Company “Subsidies” Clarified (It depends on what the word : "Subsidy" means)

    05/03/2011 7:18:26 AM PDT · by SeekAndFind · 27 replies · 1+ views
    Hotair ^ | 05/03/2011 | Jazz Shaw
    We’re still seeing a flood of calls from both sides of the aisle to cut subsidies as part of an overall strategy to reduce spending in Washington. While there is plenty available to cut, there has been a steady and disingenuous conflation being promoted by the White House which seeks to describe certain tax benefits received by companies in all manner of industries as “subsidies for big oil.” Just last week Tim Pawlenty was taking to the stump in an attempt to call out these warped descriptions. MANCHESTER, N.H. – Former Minnesota Gov. Tim Pawlenty called a White House proposal...
  • About Those Oil Subsidies. Why are Tax Breaks Considered "Subdisidies" by our government?

    05/02/2011 7:07:25 AM PDT · by SeekAndFind · 28 replies
    American Thinker ^ | 05/02/2011 | Randall Hoven
    Everyone wants to end subsidies to oil companies, from President Obama to John Boehner and Paul Ryan.  My question was "What subsidies?"  Remarkably enough, CNN Money provided the answer. It turns out that they are all tax "breaks."  I even hesitate to call them "breaks" because some of them amount to little more than Congress defining accounting terms such as "capital equipment."  And the total amount of earnings not collected in taxes (which liberals define as a "subsidy") is about $4 billion per year.  Here is how that breaks down. Domestic manufacturing tax deduction -- $1.7 B.  This is a...
  • Warning: Protests Spread To Saudi Arabia (Video)

    01/30/2011 6:41:28 PM PST · by Dallas59 · 13 replies
    Investment Watch ^ | 1/29/2011 | Investment Watch
    While the biggest threat to the Middle East region is the possibility that the population of Saudi Arabia may try to imitate what has been happening in the area, thereby bringing total chaos to the established regional geopolitical and more importantly, energy, structure, the first protests in the Saudi Arabia city of Jeddah are already in the books. The clip below shows the peaceful demonstrations that have taken place recently, which as Fedupmontrealer explains are “taking place in front of the Municipality in protest of the severe lack of infrastructure, and corruption, that led the city to be inundated this...
  • Keep the Tax Cuts, Cut the Tax Breaks

    12/01/2010 8:08:03 AM PST · by SeekAndFind · 18 replies
    City Journal ^ | 12/01/2010 | Nicole Gelinas
    Congress starts its lame-duck session this week with a tax battle. Democrats want to extend, at least temporarily, the Bush tax cuts for families making under $250,000. Republicans want to extend the cuts for everyone—including those in the upper-income brackets—forever. They’re both wrong. A better approach would be to keep all the cuts, but only on the condition that we pay for them by junking the tax breaks that corrode our economy. An effective tax code would raise money for the government without intruding on private economic activity. Tax rates—that is, the percentage of your income that you fork over...
  • To Reduce Taxes, We Must Abolish Our Tax Breaks (Will you give up tax breaks to simplify things?)

    11/01/2010 7:25:01 AM PDT · by WebFocus · 61 replies
    Forbes ^ | 11/01/2010 | John Tamny
    After preparing my taxes last year, my accountant noticed my horror and responded that “You’re not playing the game right. Buy a house with a large mortgage, have children, or do something that’s deductible to reduce your tax bill.” The accountant’s words were true, and a shining example of a wealth transfer that’s not spoken of enough. We hear all the time about how basic income taxes, government spending and inflation are redistributive in nature, but not mentioned enough is how both political parties use the tax code to redistribute wealth to favored constituents or individuals who live as Washington...
  • Obama: Don’t Extend Tax Breaks For Wealthiest (Is President Obama Against The Middle Class?!)

    09/08/2010 1:09:45 PM PDT · by Biggirl · 10 replies
    http://annem040359.wordpress.com/ ^ | September 8, 2010 | annem040359
    President Barak Obama in a speech in Parma, Ohio today had made it CLEAR that he is NOT for “extending tax breaks for the wealthiest”. WHAT President Obama are you AGAINST the MIDDLE CLASS who are the foundation and backbone of America?! No wonder Americans are abandoning both you and Democrats in droves as well as many Democrats, in the political fight of their lives are keeping a long-arm distance away from you.
  • Fiorina: Tax breaks are best way to create jobs

    06/29/2010 6:25:26 PM PDT · by NormsRevenge · 35 replies · 1+ views
    AP on San Diego Union - Tribune ^ | 6/29/10 | Kevin Freking - ap
    WASHINGTON — Republican Senate candidate Carly Fiorina said Tuesday the best way to encourage job growth is to provide tax breaks for companies that agree to build facilities in the United States. Fiorina, who oversaw Hewlett-Packard Co. from 1999 to 2005, has been criticized for laying off thousands of workers during her tenure and shipping some of those jobs overseas. Fiorina would give companies a 10-year tax break when they return manufacturing plants and other facilities to the U.S. and a five-year tax break for startups and expansions. "Instead of trying to punish people for outsourcing, we should reward people...
  • Drama unfolds as violent Robert Rodriguez film seeks tax break from Texas

    05/23/2010 4:04:33 PM PDT · by DogByte6RER · 19 replies · 1,074+ views
    Star-Telegram ^ | Saturday, May. 22, 2010 | AMAN BATHEJA
    Drama unfolds as violent Robert Rodriguez film seeks tax break from Texas Should Texas taxpayers provide financial support for a violence-packed movie that plays off the tensions gripping the state and the nation in the raging debate over illegal immigration? That's an emerging question as a new movie from Austin filmmaker Robert Rodriguez generates controversy that's reaching all the way to Gov. Rick Perry's office at a time when the state faces massive financial problems and is embroiled in the immigration debate. Rodriguez is finishing up his latest film, Machete, about an assassin from Mexico working as a day laborer...
  • A Tax Break for Pet Owners

    11/29/2009 10:18:15 AM PST · by freespirited · 60 replies · 1,572+ views
    Parade ^ | 11/29/09 | J. Scott Orr
    Animal shelters across the country have reported a sharp surge in abandoned animals, many cut loose by owners who can no longer afford to care for them. Now, Rep. Thaddeus McCotter (R., Mich.) has introduced a bill that would use the federal tax code to help. The Humanity and Pets Partnered Through the Years (HAPPY) Act would allow pet owners to deduct the cost of food, veterinary care, and other pet-related expenses from their income taxes—up to $3500 per year. McCotter says the bill would provide tax relief for pet owners while at the same time strengthening “the human-animal bond.”...
  • GM Reportedly Seeks to Avoid Huge Tax Liability Under Federal Bailout

    02/01/2009 7:57:22 PM PST · by marshmallow · 6 replies · 567+ views
    RTT News ^ | 1/31/09
    Automaker General Motors Corp. (GM: News ) is lobbying Congress to help it avoid a multi-billion dollar tax burden that the company faces as part of its $13.4 billion federal bailout, according to reports on Saturday. The company has been urging members of the Congress to add a provision to the $819 billion economic stimulus bill to eliminate the tax liability that could cost it about $7 billion and jeopardize its restructuring. GM had reportedly circulated a proposed provision to Congress, but the House passed the stimulus bill without the provision on Wednesday. By paying as much as $7 billion...
  • Tax breaks coming soon?

    01/29/2009 6:35:19 AM PST · by Mind Freed · 19 replies · 735+ views
    A payroll tax credit and breaks for business are among the tax cuts Congress will pass as part of the big economic stimulus package coming soon.
  • Obamas tax breaks for the middle class - hold onto your wallets, folks!! (Vanity)

    06/21/2008 5:37:29 AM PDT · by wingsof liberty · 8 replies · 143+ views
    We have heard a lot about the tax breaks Obama wants to give the so-called "middle class." In an Obama administration the wealthiest Americans would need to pay capital gains taxes around 50% - and thats just for starters. Heres the kicker, and a point you wont hear Obama talk about much: in his mind the middle class are families making under $75K per year. Think about that, folks. For people living in New England, New York, California and many other places, thats right around the POVERTY LEVEL, when you consider cost of living and educational expenses. Many people here...
  • McCainomics: John McCain Sketched out his Economic Agenda

    04/16/2008 3:53:34 PM PDT · by The_Republican · 22 replies · 78+ views
    The Atlantic.Com ^ | April 16th, 2008 | Ross Douthat
    McCain's speech reads like an attempt to unify a divided party by offering every faction something to make them happy. For the GOP's supply-siders and business interests, there are promises to extend the Bush tax cuts and slash corporate rates. For moderate Republicans clinging to seats in Democratic states, there's a pledge to cut the Alternative Minimum Tax, which hits upper-middle class Blue Staters hardest. For free traders, there's a shout-out to the Colombian Free Trade Agreement; for flat-tax obsessives, there's a call for an alternative tax-filing option, featuring just two brackets instead of four or five. For deficit hawks...
  • CA: Senate panel examines value of California tax breaks amid deficit

    02/24/2008 10:37:45 AM PST · by NormsRevenge · 6 replies · 143+ views
    AP on Bakersfield Californian ^ | 2/24/08 | Steve Lawrence - ap
    As lawmakers grapple with a $16 billion state budget deficit, a Senate committee this week will consider whether California really needs a sales tax exemption for poultry litter, an enhanced oil recovery credit or about $50 billion a year in other tax breaks. The Revenue and Taxation Committee has scheduled a hearing Wednesday to look at whether some of the state's wide variety of tax credits and exemptions should be eliminated, cut back or suspended. It has requested testimony from the Legislative Analyst's Office, the Department of Finance, academicians, business and labor groups and taxpayer organizations. The committee's chairwoman, Sen....
  • Giuliani's businesses grab tax breaks, wage subsidies (meant for poverty-level earners)

    01/26/2008 5:31:04 AM PST · by Liz · 15 replies · 290+ views
    PRESS RELEASE ^ | April 1, 2005 | GOOD JOBS NEW YORK
    April 1, 2005 Good Jobs New York Releases List of Wage Tax Credits Recipients That Include Giuliani Partners, Ernst & Young, Fox News and News America Contact: Stephanie Greenwood, Good Jobs New York Bettina Damiani, Good Jobs New York Companies Certified Prior to the June 2004 Sunset of a Little Known and Badly Misused Tax Break Are Back in the Money Unpublicized Rider to Empire Zones “Reform” Legislation Allows Firms Certified for Zone Equivalent Area or ZEA Wage Tax Credits Prior to June 2004 to Receive Up to Five (5) Years of Benefits Despite Program’s Expiration April 1, 2005 –...
  • Alternative-Fuels Push May Inspire Some Better Bets

    01/28/2007 11:16:57 PM PST · by Tolerance Sucks Rocks · 5 replies · 491+ views
    Wall Street Journal ^ | January 29, 2007 | Patrick Barta
    President Bush's State of the Union address, which called for a nearly fivefold increase in the nation's alternative-fuel consumption by 2017, did little to silence critics who contend that new fuels like ethanol and biodiesel aren't likely to play a major role supplying the world's energy needs in the years ahead. They see two key problems. First, the profitability of many alternative fuels -- without sizable subsidies -- is still in question. This is especially true now that the cost of raw ingredients used to produce "biofuel," including corn, has rocketed, squeezing profit margins for producers of those fuels. At...
  • Pawlenty wants tuition aid and tax breaks for military. (Minnesota)

    01/10/2007 4:24:29 AM PST · by Kimmers · 7 replies · 244+ views
    The Examiner ^ | 1/9/07 | MARTIGA LOHN
    ST. PAUL - Gov. Tim Pawlenty unveiled a $75 million plan to help the military Monday, including a Minnesota GI bill that would give tax breaks and tuition assistance to thousands of veterans and troops. Pawlenty also wants to eliminate state income taxes on military pay and pensions. As about 2,600 members of the Minnesota National Guard near the end of their deployment in Iraq, the Republican governor said the military aid will be one of his top priorities this year and he can't imagine any lawmaker voting against it. The DFL lawmakers who will push his bill in the...
  • Congress Targets Oil-Drilling Subsidies

    01/08/2007 9:14:23 AM PST · by Tolerance Sucks Rocks · 47 replies · 841+ views
    Wall Street Journal ^ | January 8, 2007 | John J. Fialka
    WASHINGTON -- With Democrats controlling Congress, the oil industry is in for a rough ride. So is the agency that collects royalties for oil and gas drilling on federal lands. Democrats and some Republicans have complained for months that the Interior Department's Minerals Management Service -- whose motto is "securing ocean energy and economic value for America" -- has mishandled the royalty program. The issue will hit the spotlight Jan. 18, when the House takes up energy legislation targeting oil-industry subsidies. One goal: untangling a legal mess that could allow companies to escape paying at least $10 billion in future...
  • Making the Most of 2007 Tax Breaks

    01/05/2007 10:28:50 AM PST · by BenLurkin · 3 replies · 337+ views
    This year is going to be a happy one -- at least for some taxpayers. Among the many changes that became effective on New Year's Day are higher contribution limits for 401(k) plans, a decline in the top federal estate-tax rate and a new deduction for many people who buy mortgage insurance. The standard mileage rate rose. So did the personal exemption, income brackets and dozens of other tax items adjusted for inflation every year. While these and other changes will bring relief to millions of taxpayers, many will be hit by higher taxes. About 11 million workers will have...
  • Bush signs massive tax and trade bill

    12/20/2006 10:31:18 AM PST · by NormsRevenge · 38 replies · 1,383+ views
    AP on Yahoo ^ | 12/20/06 | AP
    WASHINGTON - President Bush on Wednesday revived some 20 tax breaks, extended trade benefits for developing countries and protected doctors from a big cut in Medicare payments by signing sweeping tax and trade legislation. The bill is a patchwork of must-do items that were left for the lame duck Congress. It was bundled together and passed by the House and Senate just before adjourning earlier this month. "This is a good piece of pro-growth legislation," said Bush, just before putting his signature to the legislation at a White House ceremony. Republican budget hawks bridled at the measure's approximately $40 billion...
  • CA - Angelides: I'm open to tax breaks for film industry

    06/29/2006 9:04:51 PM PDT · by calcowgirl · 25 replies · 644+ views
    Press-Enterprise ^ | June 29, 2006 | MICHAEL R. BLOOD
    Democratic gubernatorial candidate Phil Angelides said Thursday he would consider using tax breaks to stop Hollywood jobs from fleeing California, even at a time when he has warned of looming budget problems and what he calls unjustified corporate tax loopholes. Angelides, the state treasurer, also accused Gov. Arnold Schwarzenegger of doing "zero, zip" to slow the exodus of entertainment jobs to other states and around the globe. The Republican governor, a former film star, "talks, he's a showman," Angelides said in an interview with The Associated Press. "This is an area where you would think that this governor, in his...
  • Can Ethanol Solve The Nation's Energy Problems?

    06/17/2006 2:40:10 PM PDT · by Tolerance Sucks Rocks · 111 replies · 2,019+ views
    Wall Street Journal ^ | June 17, 2006 | Lauren Etter
    Ethanol stirred Wall Street last week when the second-largest ethanol producer went public, a sign that the corn-based fuel has become hot as gas prices soar. In its first day of trading, VeraSun Energy Corp.'s stock jumped 30% to $30 a share. Production capacity of ethanol in the U.S. has more than doubled since 1999, and the total number of ethanol plants has nearly doubled as well, to 97, with at least 30 more under construction. In April, Bill Gates, chairman of Microsoft Corp., bought a large stake in Pacific Ethanol Inc., which produces ethanol. Wal-Mart Stores Inc. recently said...
  • Comptroller Strayhorn Takes Care of Her Contributors

    03/21/2006 8:33:17 AM PST · by Dallasblog.com · 1 replies · 120+ views
    DallasBlog.com ^ | 03/20/2006 | Tom Pauken
    Clay Robison has an interesting column in Sunday’s Houston Chronicle on how influential big money has become in politics and how it makes a difference in the decisions made by public officials. In this case, Robison cites the example of Comptroller Carole Strayhorn who "has received almost $900,000 in political support since 2001 from Dallas tax consultant George Brint Ryan (Ryan & Co.) or his company’s political action committee." As Robison points out, "Ryan’s firm represents clients with tax disputes before the comptroller’s office." The Houston Chronicle columnist goes to cite a state audit of Strayhorn’s office a few months...
  • (Secretary of the Treasury) Snow announces tax breaks for hybrid cars

    01/13/2006 8:53:07 AM PST · by HHKrepublican_2 · 68 replies · 862+ views
    DETROIT (Reuters) - U.S. Treasury Secretary John Snow, aiming to boost the ailing domestic auto industry and encourage conservation, on Friday outlined details of proposed tax breaks for people who buy hybrid gasoline-electric vehicles. ADVERTISEMENT At a Ford Motor Co. research center in suburban Detroit, Snow discussed tax policy changes that would give people who buy or lease increasingly popular hybrid cars and trucks a tax credit up to $3,400.
  • Commission Suggests Changing Tax Breaks (President's Advisory Panel on Federal Tax Reform)

    10/12/2005 11:01:10 AM PDT · by NormsRevenge · 4 replies · 336+ views
    ap on Yahoo ^ | 10/12/05 | Mary Dalrymple - ap
    WASHINGTON - A presidential panel says tax breaks that promote homeownership and encourage businesses to give workers health insurance should be changed to help more middle income families. "Clearly, under present law, the higher income folks benefit the most from those two aspects of the tax code," former Sen. Connie Mack, chairman of the President's Advisory Panel on Federal Tax Reform, said Tuesday. Decisions on specific changes to recommend could be made next week as the nine-member panel wraps up its work, Mack said. The commission plans to issue a final report on Nov. 1. At the White House, presidential...
  • Bush Gambling On Casino Tax-Breaks

    10/04/2005 5:59:08 PM PDT · by wagglebee · 11 replies · 357+ views
    NewsMax ^ | 10/4/05 | NewsMax
    A prominent Republican congressman has sent a letter to President Bush protesting plans to extend tax breaks to gambling casinos as part of the Hurricane Katrina rebuilding efforts. Rep. Frank R. Wolf (Va.), a member of the House Appropriations Committee, wrote in part: "I do not have the words to express the depth of my disappointment in learning ... that your administration is planning to provide the gambling industry in the Gulf region with special tax breaks. "According to Bill Crawford, deputy director of the Mississippi Development Authority, the casinos there have not needed any enticement to invest in the...
  • Study: California loses millions on out-of-state films

    08/22/2005 5:38:11 AM PDT · by Hadean · 29 replies · 740+ views
    AP ^ | 8-22-05
    LOS ANGELES - California receives millions of dollars in tax revenue when movies are filmed in the state, but about 60 percent of all productions last year were shot elsewhere, according to a study to be released Monday. The state, for example, loses more than $10 million when a $70 million movie is made outside the state, and $3 million for a 12-episode drama, the Los Angeles County Economic Development Corp. said. Sponsored by labor and industry groups, the 20-page showed that 236 features, or about 40 percent of all productions, were shot partially or exclusively in the state last...
  • WSJ: How It Became Safe to Embrace Global Warming

    07/06/2005 5:23:39 AM PDT · by OESY · 20 replies · 853+ views
    Wall Street Journal ^ | July 6, 2005 | Holman W. Jenkins, Jr.
    ...Mr. Bush stands himself in excellent company here with some of the most respected names in business: GE's Jeff Immelt, Duke Energy's Paul Anderson, Ford's Bill Ford Jr. They, in turn, have benefited from the pioneering PR efforts of BP's John Browne, whose conversion to climate change was based firmly on science -- sociology not climatology.... Mr. Browne and his copycats have largely restricted themselves to acknowledging the inevitability of carbon regulation, not the inevitability of carbon-driven global warming. Most of all, they see a cornucopia of subsidies and tax breaks flowing from an emerging Western consensus to treat carbon...