U.S. companies would be prohibited from taking income-tax deductions for their top executives’ pay exceeding $1 million, even if it’s based on performance, under a plan from the top Republican tax writer in Congress.
Raising the U.S. gasoline tax above 18.4 cents a gallon is the “simplest and most straightforward” way to fund a long-term highway bill, the president of the nation’s largest lobbying group for businesses told Congress.
Thomas Donohue, the president and chief executive officer of the U.S. Chamber of Commerce, said that while his organization respects the small-government instincts of Tea Party Republicans, he can’t support efforts to shut down the government or block increases to the debt ceiling.
The U.S. economy will expand by 3.2 percent this year and add 2.4 million jobs, Chamber of Commerce President Thomas Donohue said as the nation’s largest business group offered an optimistic forecast for 2011.
The U.S. economy will slow early this year from the pace at the end of 2011, then accelerate and finish with an annual growth of less than 3 percent, U.S. Chamber of Commerce President Thomas Donohue said as the nation’s largest business group offered its forecast for 2012.
Over the next 12 months, the Obama administration is due to issue regulations governing everything from e-cigarettes to smoke-stack emissions in what experts predict will be a second-term rush to put rules in place before leaving office.