Jason Furman News
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President Barack Obama urged the nation’s governors to pressure Congress for a deal to avoid automatic spending cuts scheduled to begin March 1, telling them the impact would be felt in every state.
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President Barack Obama, on the road to promote his State of the Union proposals, said the U.S. is becoming more competitive in global markets and reviving the country’s manufacturing base is crucial to future growth.
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The Obama administration began a public campaign to head off scheduled automatic budget cuts that the administration said would reduce spending on programs including education, small business loans, food safety inspections and defense.
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U.S. Senate Democrats are close to proposing a $120 billion plan for a 10-month delay in automatic spending cuts for defense and domestic programs set to begin March 1, according to a Senate Democratic aide.
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Limits on income tax deductions could raise a lot of money, as I've said -- perhaps more than $1 trillion over 10 years -- in a way that also makes the tax code much more progressive. Now come Jason Furman and Gene Sperling, two of President Barack Obama's top economic advisers, to say they would raise much less. But that's because they impose unwise restrictions on the new cap.
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President Barack Obama is promoting a “Buffett rule” setting a minimum tax rate for top earners to ensure they pay a higher percentage of their income than middle- class families. For the most part, they already do.
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Lawmakers trying to curtail or end popular tax breaks to pay for lower tax rates will face tough political choices and resistance from taxpayers, advisers to Congress’s top tax writers said today.
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Obama administration officials are rejecting the idea of making major changes to Social Security as part of a debate over reining in the national debt, a stance that’s drawing protests from deficit-cutting advocates.
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President Barack Obama ’s budget will include $10.7 billion to build a nationwide wireless network for emergency workers and $5 billion to help Americans get mobile access to high-speed Internet service.
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President Barack Obama campaigned in 2008 on tax cuts for most Americans and tax increases for the fortunate few. He has delivered on the breaks and, for the most part, been unable to follow through on attempts to raise taxes.
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