debt reduction

/Tag: debt reduction

Pass-throughs are b�Silent Majorityb� in Tax Reform Debate

As Washington adjusts its focus towards the new Joint Committee on Deficit Reduction, many observers expect the same sort of partisan ideological gridlock that has seized much of the process to this point, but there are those that see a realistic path to a successful compromise by the "super" committee, and they see this scenario reached through some sort of revenue-neutral reform of the tax code. The top tax writers in Congress intend to move forward the tax reform debate this year, through the deficit reduction effort or separately, and have already begun calling corporate CEOs to the table to ...

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By |2014-06-06T18:39:35+00:00August 9th, 2011|The Washington Wire|0 Comments

Tax Policy and the “Joint Committee”

Does the debt deal include tax policies? Step One of the plan includes $917 billion in spending cuts only. But Step Two calls on a special "Joint Committee" to develop an additional package of deficit reduction that could include revenue provisions. Here are the details. Under the plan, the new Joint Committee would be made up of six members each from the House and Senate, evenly divided between Republicans and Democrats. This Joint Committee would be asked to develop a package of deficit reductions equal to $1.2 trillion or more, and to report that package out by November 23rd. It ...

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By |2014-06-06T18:42:52+00:00August 2nd, 2011|The Washington Wire|0 Comments

Ryan on S-Corps and Taxes

Earlier this morning, House Budget Committee Chairman Paul Ryan (R-WI) cited from our Ernst & Young study to defend Main Street businesses. We had been in to see Chairman Ryan back during our annual Board meeting. Apparently, our message connected! As the Chairman notes: "We don't think raising tax rates in 2013 is helping the economy today. Not only is the actual rate going to 39.6, when you take the other stuff that was in Obamacare and everything else, the effective marginal tax rate goes to 44.8 percent. Here is the problem: 54 percent of workers in America get their ...

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By |2014-06-06T18:48:00+00:00July 15th, 2011|The Washington Wire|0 Comments