AP – Laying down an election-year marker in the debate over taxes, the Obama administration is proposing to cut the corporate tax rate from 35 percent to 28 percent, and to seek an even lower effective rate for manufacturers, a senior administration official says.
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AP source: Obama seeks 28 percent corp. tax rate
(AP)
Reuters – The Obama administration will propose slashing the top income tax rate for corporations to 28 percent from the current 35 percent, as part of a corporate tax reform plan that is set to be announced on Wednesday, the Wall Street Journal said.
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U.S. proposes to reduce top corporate tax rate: report
(Reuters)
AP – The Obama administration will propose lowering the current 35 percent corporate tax rate, while at the same time eliminating loopholes and subsidies and imposing a minimum tax on the overseas profits of American companies.
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Treasury to release corporate tax plan Wednesday
(AP)
Reuters – The Treasury Department on Wednesday will roll out a corporate tax reform plan from President Barack Obama, administration officials said on Tuesday, with expectations low for any major tax code overhaul in an election year.
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Obama to float corporate tax overhaul Wednesday
(Reuters)
AP – The $143 billion payroll tax cut won by President Barack Obama may be the last significant measure he receives from a deeply divided Congress that promises to only get more polarized as Election Day approaches.
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Obama finally scores coveted win on payroll tax
(AP)
Reuters – Congress ended a three-month battle on Friday by passing legislation to extend a tax cut for 160 million workers, a boon for both the economy and Democratic President Barack Obama in this election year.
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Congress ends bitter tax battle with bill passage
(Reuters)
AP – Americans are getting an election-year tax present. Congress voted with rare speed and cooperation Friday to extend a Social Security payroll tax cut for 160 million workers and to renew unemployment benefits for millions more who haven’t seen a paycheck in six months.
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A big tax present for 160 million wage-earners
(AP)
AP – Congress on Friday approved legislation renewing a payroll tax cut for 160 million workers and jobless benefits for millions more, backing the main items on President Barack Obama’s jobs agenda in a rare burst of Washington bipartisanship. Original post: Congress sends payroll tax cut bill to Obama (AP)
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Congress sends payroll tax cut bill to Obama
(AP)
Reuters – The Obama administration wants limits on vehicle features that allow drivers to text and make cellphone calls while the car is moving, the centerpiece of a broader effort to curb distracted driving.
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Limits sought on electronic driver distractions
(Reuters)
Reuters – Europe needs to take the reins to tackle its debt crisis and prevent a spread that could damage the global economy, senior U.S. officials said on Thursday, as they stressed that more funding from international lenders is not what Europe needs.
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U.S. officials urge Europe to deal with its crisis
(Reuters)