Skip to content
Catholic Online Logo

By Catholic Online (NEWS CONSORTIUM)

12/26/2012 (1 year ago)

Catholic Online (www.catholic.org)

Lawmakers must avert $600 billion in tax increases before due date

Congress is now under a looming deadline to avoid the fiscal cliff everyone is so concerned about. Lawmakers must find a way to avoid $600 billion in tax increases, but as is par for the course for them, procrastination is a major problem.

house speaker John Boehner has abruptly pulled his 'Plan B' proposal from the floor, saying it lacked support from Republicans. That bill, though fiercely opposed by Democrats, would have extended current tax rates for all but those making over $1 million.

house speaker John Boehner has abruptly pulled his "Plan B" proposal from the floor, saying it lacked support from Republicans. That bill, though fiercely opposed by Democrats, would have extended current tax rates for all but those making over $1 million.

Article Highlights

By Catholic Online (NEWS CONSORTIUM)

Catholic Online (www.catholic.org)

12/26/2012 (1 year ago)

Published in Politics & Policy

Keywords: John Boehner, fiscal cliff, Congress, taxes, budget, unemployment benefits


LOS ANGELES, CA (Catholic Online) - Both Republicans and Democrats are optimistic that they will reach an agreement before New Year's Day, January 1st. The White House says that President Obama will fly back from Hawaii, where he's been on vacation with his family in time to get back to work before the end of this week.

Officials are seeking to avert a doomsday scenario of income tax hikes, investment tax hikes, defense cuts and a cut-off in long-term unemployment aid that would happen all at once if no agreement is reached. However, few are saying how they intend to accomplish this.

A spokesman for House Speaker John Boehner said the president and the speaker did not talk over the weekend and both representatives for the Republican and Democratic Senate leaders say they have "nothing" to report. Everyone agrees that reaching an agreement is easier said than done.

Boehner has abruptly pulled his "Plan B" proposal from the floor, saying it lacked support from Republicans. That bill, though fiercely opposed by Democrats, would have extended current tax rates for all but those making over $1 million.

In the meantime, Obama aides and lawmakers are now talking about a scaled-down package as the most likely vehicle for solving the problem, something that could at least prevent most of the scheduled tax hikes and maybe extend jobless aid.

Lawmakers could then renew the debate early next year over the most contentious issues of entitlement cuts and tax reform.  

Democrats and Republicans still need to decide who -- if anyone -- would see a tax hike in 2013. Lawmakers still need a bill to work from. The administration official suggested there was a bit more contact in recent days between White House staff and Senate Democratic leadership staff, indicating that new legislation, if proposed, could come from the Senate side.

"At some point the United States Senate has to do something," Boehner said, calling upon Senate to make the next move. "What we were trying to do this week was to basically jumpstart and try to kick into gear some action by the Senate to avert these tax increases go into effect January 1."

Congress has worked under tougher deadlines before. The most recent example was over the vote to raise the debt ceiling, but also on countless budget bills and tax cut extension packages.

If Washington can't reach a deal, the American people are in for a historic blow. The rollback of the Bush-era tax rates is estimated to cost the typical middle-income family more than $2,000 a year. Another expiring tax provision could cost thousands more.

---


Pope Francis: end world hunger through 'Prayer and Action'


© 2014 - Distributed by THE NEWS CONSORTIUM

Pope Francis Prayer Intentions for April 2014
Ecology and Justice:
That governments may foster the protection of creation and the just distribution of natural resources.
Hope for the Sick: That the Risen Lord may fill with hope the hearts of those who are being tested by pain and sickness.



Comments


More Politics & Policy

IN SCHOOLS, BARS, CHURCHES: Georgia signs into law 'guns everywhere bill' Watch

Image of The new law

By Catholic Online (NEWS CONSORTIUM)

In schools, in bars and in churches: People in the state of Georgia will be able to carry their guns with them everywhere, after a provision that has been called the "guns everywhere bill" was signed into law by the governor this week. LOS ANGELES, CA (Catholic ... continue reading


Texas Lt. Gov threatens action if BLM attempts to seize Texas land Watch

Image of Texas Lt. Gov. David Dewhurst has said he will fight the Obama administration if they try to seize Texas land.

By Catholic Online (NEWS CONSORTIUM)

Texas Lt. Gov. David Dewhurst has added his name to the list of people disgusted with the Bureau of Land Management's scheme to seize over 90,000 acres of land from Texas without compensation. AUSTIN, TX (Catholic Online) - Texas Lt. Gov. David Dewhurst had some harsh ... continue reading


Congress appalled at Obama administration's 'stunning disregard for law' Watch

Image of

By Catholic Online (NEWS CONSORTIUM)

Appalled by the Obama administration's attempt to "rewrite the Affordable Care Act on a wholesale basis," some members of Congress are calling the White House on the carpet for their "stunning disregard for the law." LOS ANGELES, CA (Catholic Online) - The ... continue reading


Study finds the American Republic has turned to Oligarchy Watch

Image of The Republic is dead, thanks to money and corruption.

By Catholic Online (NEWS CONSORTIUM)

A new study finds that the Republic is dead and that the United States government has become an oligarchy, even if its preliminary findings stop just short of declaring so. The study reveals that average American citizens have lost their political voice entirely and ... continue reading


Supreme Court rules affirmative action in Michigan's college admissions is unconstitutional Watch

Image of The ruling focused on a voter-passed proposal that banned the use of race in admissions decisions at public universities.

By Catholic Online (NEWS CONSORTIUM)

Hailed as a milestone in a decades-long discourse, the Supreme Court has upheld a ban on the use of race in admission decisions at Michigan's public universities. Marked by protests in the streets of Ann Arbor and previous Supreme Court rulings, it was noted ... continue reading


Is affrimative action dead? SCOTUS rules on who can decide the issue Watch

Image of A ruling by the Supreme Court allows states to decide on whether they use a race-conscious policy in admitting students to advanced public education.

By Catholic Online (NEWS CONSORTIUM)

The Supreme Court struck a blow against those seeking to trample on the rights of states, upholding a Michigan voter initiative which banned racial preferences when considering admission into one of the states' public universities, on April 22. LOS ANGELES, CA ... continue reading


Exxon Mobil must pay the piper: High court rejects appeal on $105 million verdict Watch

Image of MTBE is an oxygen-containing substance that is added to gasoline to promote more complete combustion and reduce air pollution.

By Catholic Online (NEWS CONSORTIUM)

They were found guilty way back in 2009 and now must pay for their transgressions. The U.S. Supreme Court has declined to overturn a $105 million verdict against Exxon Mobil for contaminating drinking wells in the New York City borough of Queens. LOS ANGELES, CA ... continue reading


He just keeps coming and coming! Highest - and longest period of taxation proposed by President Obama Watch

Image of Under Obama's budget proposal, according to the CBO, the budget will never balance.

By Catholic Online (NEWS CONSORTIUM)

President Barack Obama called for what would be the highest level of sustained taxation ever imposed on the American people. According to the analysis published last week by the Congressional Budget Office, the plan was included in the budget proposal Obama ... continue reading


A new Civil War? Lawmakers meet to discuss taking back federal lands for the states Watch

Image of Lawmakers met in Salt Lake City to discuss how the federal government has been using lands in the Western states.

By Catholic Online (NEWS CONSORTIUM)

Lawmakers from the Western states gathered in Salt lake City last Friday to discuss what happened on the Bundy ranch in Nevada and to say that it is time for the states, not the federal government, to manage those resources for the good of their people. LOS ANGELES, CA ... continue reading


INCOME TAXES? 'If it reaches a certain point, perhaps you should revolt,' Justice Scalia tells students Watch

Image of Justice Scalia told the students that the justices do not give credence to partisan politics, and that he doesn't care which party controls the White House. He stands by a theory of

By Catholic Online (NEWS CONSORTIUM)

It came as a most bit of unorthodox advice, from a lawmaker to an audience of impressionable minds. While speaking at the University Of Tennessee College Of Law last week, Supreme Court Justice Antonin Scalia was asked by a student about his interpretation of ... continue reading


All Politics & Policy News

Newsletters

Newsletter Sign Up icon

Stay up to date with the latest news, information, and special offers

Daily Readings

Reading 1, Acts 3:11-26
11 Everyone came running towards them in great ... Read More

Psalm, Psalms 8:2, 5, 6-7, 8-9
2 even through the mouths of children, or of babes in ... Read More

Gospel, Luke 24:35-48
35 Then they told their story of what had happened on ... Read More

Saint of the Day

Saint of the Day for April 24th, 2014 Image

St. Fidelis of Sigmaringen
April 24: Franciscan Capuchin martyr. He was born Mark Rey is Sigmaringen, ... Read More

Inform, Inspire & Ignite Logo

Find Catholic Online on Facebook and get updates right in your live feed.

Become a fan of Catholic Online on Facebook


Follow Catholic Online on Twitter and get News and Product updates.

Follow us on Twitter