Earl Pomeroy News
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U.S. lawmakers are looking for ways to carve up the $70 billion-a-year home mortgage interest deduction.
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Ben Nelson doesn’t face re-election to the U.S. Senate for another year and won’t know his opponent until next May. Yet advertising attacks on the second-term Democrat began months ago.
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At least six Democrats in the U.S. House said today that they would oppose or were leaning against legislation that would extend Bush-era tax cuts on the first $200,000 of an individual’s annual income and the first $250,000 of a married couple’s.
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Blanche Christerson, an executive in Deutsche Bank AG’s private wealth management division, loves her 85-year-old ailing mother, Hedda Lark, of Manhattan Beach, California, and isn’t ready for her to die. Still, Christerson says, she and her mother are bothered that in discussing Lark’s estate, they wrestle with tax complications that didn’t exist just a year ago.
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House Minority Leader John Boehner rails against government spending yet votes for a $485 million appropriation for the F-35 Joint Strike Fighter’s alternative engine, which the Pentagon wants to kill. Boehner’s district is near the General Electric plant that’s building the engine.
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A congressional ethics office is investigating campaign donations made by the financial industry to some U.S. House members as they were preparing to vote on the Wall Street regulation overhaul in December.
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House Democrats are pressing ahead with a vote on extending 2001 and 2003 tax cuts for middle- income taxpayers over the objections of Republicans who say passage would harm the economy by increasing taxes for those with higher incomes.
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The people responsible for averting the end-of-year fiscal cliff are the same ones who almost caused a U.S. debt default, let airline ticket taxes lapse for two weeks and came within two hours of shutting down the government.
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The U.S. House Ways and Means Committee has proposed reducing the tax credit that helps support the ethanol industry by 20 percent to cut spending, according to two people familiar with the matter.
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Senate Budget Committee Chairman Kent Conrad of North Dakota, a leading deficit hawk who would have faced a tough re-election fight, announced today he won’t seek another term in 2012.
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