Bloomberg BNA – There is sufficient precedent for President Barack Obama to approve crude oil exports using executive authority, according to Sen. Lisa Murkowski (R-Alaska), ranking member of the Senate Energy and Natural Resources Committee.
President Barack Obama’s budget plan moves the spotlight away from reducing U.S. deficits and instead seeks new spending to energize the Democratic base and give incumbents a job-creation platform for November’s midterm elections.
Senator Ron Wyden, an Oregon Democrat, said in an interview with Bloomberg Television’s “Political Capital with Al Hunt,” airing this weekend, that one his priorities as the new chairman of the Senate Finance Committee will be renew about 50 U.S. tax credits and deductions that expired as last year ended.
Extending U.S. tax credits and deductions is a priority for new Senate Finance Committee Chairman Ron Wyden, even as he indicates there won’t be any major tax changes for individuals or businesses this year.
A gap of almost $250 exists between the states reaping the highest per person benefit from the mortgage interest deduction and those with the lowest such figure, according to a Congressional Research Service report highlighting the tax break’s uneven distribution.