Senate passes budget after late-night ‘vote-a-rama’

ShareThis Senate passes budget after late-night ‘vote-a-rama‘ 23 Mar 2013 Senators rammed through a whopping 101 amendments and took 70 roll call votes in a late night “vote-a-rama” session that lasted until 5:30 a.m. Saturday. The budget plan, proposed by Senate Budget Committee Chairwoman Patty Murray, only narrowly passed by a 50-49 vote. The blueprint […]

GE Paid Just 2.3 Percent in Federal Taxes Over Last 10 Years on More Than $81 Billion in Profits

Madison Ruppert | Thanks to tax loopholes and deductions, General Electric (GE) was able to pay a mere 2.3 percent in federal taxes on over $ 81 billion in profits over the last 10 years, according to analysis of the corporation’s tax filings conducted by Citizens for Tax Justice.             […]

To close tax loopholes, Obama would open new ones

President Barack Obama wants to close dozens of loopholes that let some companies pay little or nothing in taxes. But he also wants to open new ones for manufacturers and companies that invest in clean energy. To some analysts, the new loopholes risk upending the level playing field Obama says he wants to create. Some […]

To close tax loopholes, Obama would open new ones

By Paul Wiseman and Christopher S. Rugaber, Boston.com WASHINGTON—Cutting corporate tax rates and deleting loopholes is just what most economists prescribe for the tangled U.S. tax code. So why isn’t everyone cheering the plan President Barack Obama unveiled Tuesday to slash the top corporate tax rate and end breaks that let some companies pay little […]

Senate Considers Taxes From Inherited IRAs to Pay for Roads

By Carol Wolf, Bloomberg.com U.S. highway and bridge projects would be financed by tax changes including closing loopholes, forcing early distribution of inherited IRAs and reallocating other tariffs under legislation before a Senate panel today. The panel will also consider an amendment to let the federal vehicle tax rise with inflation. A recommendation to require […]