Would-be tax reformers on Capitol Hill are taking a “blank slate” approach to the issue. Dave Camp and Max Baucus, the House Republican and Senate Democrat in charge of the tax-law committees, say that every tax break is on death row unless a strong case can be made for it.
Scrap copper in China is selling for 30 cents a pound less than New York futures, about twice the discount three months ago, because of weakening demand there, according to Robert Stein, president of the non-ferrous division of the Bureau of International Recycling .
Robert Stein, president and managing director of Astor Asset Management, says he reduced his equity exposure in mid-July and is using exchange-traded funds to protect against a market decline. Bloomberg Radio's Catherine Cowdery reports on Exchange Traded Funds.
For more than 30 years Republicans have won elections by promising to cut middle-class taxes, or at least to stop middle-class tax increases. No domestic issue has been as reliable a vote-winner. But now Republicans are in a bind. The huge deficit makes tax-cut promises seem impractical.
Employers probably took on more staff in April than in the prior month and the jobless rate held at a four-year low, indicating the U.S. labor market withstood the initial stages of federal budget cuts, economists said before a report today.
American industries from film-making and construction to accounting and health care powered broad- based job gains in February, a show of confidence among employers in the face of federal budget cuts and tax increases.
M.D. Sass Investors Services Inc., a closely held manager of more than $5 billion, participated in an auction of New Jersey tax liens that has come under the scrutiny of U.S. antitrust investigators probing rigged sales.
The productivity of U.S. workers fell in the fourth quarter by the most in four years, while labor expenses accelerated as companies added workers and boosted hours, revised Labor Department figures showed today.