Home/Tag: tax cut

Congress to Consider Lame Duck Session Stimulus

What time is it when the market is down, unemployment is up, personal consumption is falling and manufacturing activity is contracting? Time for another economic stimulus package.

Last week, the Ways and Means Committee confirmed it will hold a hearing on the economic stimulus package on October 29th. The specifics have yet to be worked out and several House and Senate Committees are expected to have a hand in crafting the bill. Politico lists the most likely contenders:

It could include a permanent tax cut for lower- and middle-income families, in

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2019-02-06T17:22:36+00:00October 20, 2008|

New Congressional Budget Doesn’t Protect Tax Relief

There are two ways to pass a tax bill in the Senate: bring it up under the regular floor rules and gain the support of 60 Senators, or bring it up under the “budget reconciliation” process and attain the support of a simple majority. The budget offered by Senate Budget Chair Judd Gregg last week assumes $227 billion in lower taxes over the next five years, but doesn’t protect that tax relief under reconciliation.

What does that mean for S-CORP members?

It means that any tax bill brought to the Senate floor that conforms to the budget resolution would still

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2019-02-06T18:47:20+00:00March 14, 2006|

S-CORP Marked Key Legislative Successes in 2005, Though Major Battles Loom in 2006

With Congress finally home for the holidays, S-CORP has begun to focus on its 2006 agenda. Before we embark on the year ahead, however, we wanted to take a moment to recap for member companies some of our 2005 milestones. The year was extremely active and largely positive for S-CORP and our members. Among the most noteworthy developments we marked were:

  • Blocking Proposed Payroll Tax Hikes on S Corp Shareholders

As members recall, we began the year with a very real threat to S corporations in the form of two proposals - one from the Treasury Department and another from

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2019-02-06T18:48:17+00:00December 30, 2005|