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Ariz. lawmakers work up agenda for special session
16 hours ago ago from Good News Now
PHOENIX -A tentative agenda Republican leaders are developing for a possible legislative session next week includes asking Arizona voters to temporarily raise the sales tax and give lawmakers more power to change voter-approved laws. Other items at least some GOP legislative leaders are pushing include a relatively small package of spending cuts and future income tax cuts, legislative aides told The Associated Press on Wednesday. All are ...
Related contentU.K.'s Planned Budget Cuts Fall Short
11 hours ago ago from Wall Street Journal
BY NATASHA BRERETON LONDON -- The U.K. government's latest plans to cut its budget deficit fall short of what is needed if it is to hold on to its AAA rating, making further spending cuts and tax increases almost inevitable after an election that must be held by June. That means Bank of England policy is likely to stay loose for longer than many analysts had expected. Since the credit crisis began two years ago, the authorities have ...
Related contentFacing budget deficit, Britain taxes some bankers' bonuses
6 hours ago ago from Washington Post - Business
LONDON -- Britain's ruling Labor Party on Wednesday slapped a one-time levy on bankers' bonuses and vowed future spending cuts and tax hikes to tackle the government's biggest budget shortfall since World War II. The measures underscored the extreme pressure faced by nations including Britain and the United States to confront the massive budget deficits created during the financial crisis. With tax revenue plunging and spending to bail out ...
Related contentLawmakers want to extend $31B in tax breaks
20 hours ago ago from FanHouse
WASHINGTON -Lawmakers want to extend $31 billion in popular tax breaks, including an income tax deduction for sales and property taxes. The problem: how to pay for it. The House planned to vote Wednesday on a big tax increase for investment managers to help finance the renewal of 45 tax deductions and credits for businesses and individuals. The tax breaks are scheduled to expire at year's end. The bill would tax fees collected by managers of ...
Related contentWash. gov: Tax hikes needed to save programs
18 hours ago ago from FanHouse
OLYMPIA, Wash. -Making her case for tax increases, Washington Gov. Chris Gregoire on Wednesday presented a bleak plan to balance the state budget by wiping out spending for health care, welfare, and education programs that reach every corner of Washington. As required by law, Gregoire presented a plan for balancing the state's $2.6 billion budget deficit using only the state's existing tax streams. But in an open letter to Washingtonians, the ...
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