GOP and Democratic lawmakers have sparred in recent weeks over a massive spending bill that, in addition to funding domestic programs, also seeks to include funds for the Iraq and Afghanistan wars. Senate Minority Leader Mitch McConnell, R-Ky., discusses legislative…
The House passed a tax reform bill on Friday aimed at reducing the burden of the Alternative Minimum Tax for middle-class Americans. The bill would raise taxes on hedge-fund and private equity firm managers to offset lost revenue.
Rep. Charlie Rangel, D-N.Y., has proposed a plan to eliminate the alternative minimum tax, designed in 1969 to ensure wealthy Americans paid their fair share of taxes but which was never indexed for inflation. Rangel and Rep. James McCrery, R-La.,…
The U.S. Senate voted to extend $70 billion dollars in tax cuts, first enacted in 2003, for five years. While Republicans credit these tax cuts with a surging economy, Democrats believe a majority of Americans are being left out.
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