Taxes Legislative Alerts
Congress extended the wind production tax credit in the fiscal cliff package. AFP has been a leader in opposing this handout for the wind industry.
The last-minute deal to avert the so-called fiscal cliff suffers from some of the worst ailments of Washington’s backroom deals. Primarily, it does not address the nation’s fiscal imbalance because it allows taxes to go up but fails to tackle the true driver of our economic woes: runaway government spending. Not surprisingly, President Obama has already stated that he wants to raise taxes again next year too.
By: James Valvo Lost among the frenzy to raise taxes, the only substantive programmatic spending reduction that the two sides agree on is an adjustment to the way Social Security Cost of Living Adjustments (COLAs) are calculated. The current formula uses the Consumer Price Index for Urban Wage Earners (CPI-W); the two sides have agreed [...]
By: James Valvo The lame-duck deal to avert the fiscal cliff is taking shape and although the details remain fuzzy it looks like Washington is poised to use a classic budget gimmick to avoid their most-hated exercise: cutting spending. Republicans and conservatives have consistently mocked the double counting of the Medicare reductions in the President’s [...]
By: David Jackson It is a simple fact of economics that capital formation is a critical feature of long term economic growth. Through capital formation, new industries are forged and jobs are created, subsequently providing a higher standard of living for all of society. If this is true, then why would the Obama Administration insist [...]