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A monumental opportunity has presented itself as Julian Castro, former mayor of San Antonio, takes over as the new secretary of Housing and Urban Development and Congress looks ahead on the critical issue of housing finance reform.
Debate in Congress over the future of the U.S. Export-Import Bank is coming to a head. Absent congressional action, Ex-Im will be unable to provide new loans or guarantees to American exporters after its charter expires on Sept. 30.
As the Commerce Department moves to allow companies to export mildly processed ultralight oil known as condensate, is there a global market? Yes, and it is principally in Asia, experts say.
Despite soaring U.S. oil production in recent years, the prospect of relaxing the 1970s ban on crude oil exports has looked as faint as ever. Last week, though, it was a central subject at an Energy Department conference.
On Tuesday, the Senate Finance Committee is scheduled to hold a hearing that will examine a critical issue impacting the long-term health of the U.S. economy Ė our international tax system. Dubbed ďLove it, Leave It or Reform It!Ē the committee promises to delve into the specific issue of corporate tax inversions, which describes a practice whereby companies reincorporate in a foreign country.
As the debate over renewing dozens of expiring tax breaks unfolds this year, House Republicans are making an unusual sales pitch: Congress needs to cope with the fact that the grab bag of reductions is much more costly than lawmakers like to admit.
Internet service is an essential staple of everyday life, with over 80 percent of Americans able to access the web at home and work and nearly 60 percent carrying smartphones with mobile broadband service. Smart government policies forbidding Internet service from being taxed have helped make broadband available and affordable for Americans of all ages and incomes, but a critical piece of federal legislation, the Internet Tax Freedom Act, is set to expire in November.
Saving. In the U.S., it is a lost art. According the Bureau of Economic Analysis, the U.S. household saving rate has steadily tracked downward over the past 30 years, to just 3.8 percent today. Across older households aged 40 and above, those on a low income are particularly vulnerable to under-saving, with those in the bottom income quartile needing to save about 21 percent more of their pre-tax income, on average, to ensure financial security in retirement. Unless they can boost their saving, many households will have to choose between working beyond the official retirement age or accepting a lower standard of living in old age ó or running out of money altogether. Thatís not just a problem, itís a crisis.
A loose alliance of banks, state officials and business groups is pushing for a permanent extension of a low-income housing tax credit enacted during the financial crisis.
A housing recovery moving in fits and starts is fueling new efforts on Capitol Hill to protect tax incentives for home ownership and oppose any reductions in the tax breaks that might be part of a broad tax overhaul.
Conservative groups and Republican lawmakers want to revive a policy debate over the federal role in transportation policy as Congress gets ready to debate a long-term reauthorization of highway and transit programs.
Consensus is an almost unheard of commodity today in Washington, and itís not difficult to find confirmation of this fact. The 113th Congress has produced less than 100 bills that have been signed into law Ė an historically low level of output.
Outdated tax rules are depriving the U.S. of billions of dollars in foreign investment. The must pass transportation bill is a rare bi-partisan opportunity for Congress to implement pro-growth tax reform and put Americans to work on our nationís crumbling roads and bridges. With political gridlock increasingly the norm, our national leaders must seize opportunities to advance commonly held objectives.
Approving tax treaties with other nations used to be relatively routine business on Capitol Hill, but thatís no longer the case.
This is a pivotal year for global trade policy. Two huge dealsónamely the Trans-Pacific Partnership and the Transatlantic Trade and Investment Partnership óhave the potential to dramatically redefine the nature of the global economy and reinvigorate global growth. Congress has an important role to play as these negotiations move forward.
A provision in the GROW AMERICA Act, introduced to Congress last month by Secretary of Transportation Anthony Foxx, proposes lifting a decades-old ban on tolling existing interstate general purpose lanes.
Itís a central tenet of Economics 101: the more you tax something, the less of it you get. Whether intentional or inadvertent, the weight of a heavier tax burden on the producers of any good or service reliably reduces the volume of output that can be expected. Other benefits are diminished too, such as the prospects for more jobs, better shareholder returns and affordable prices.
The House, which passed one permanent extension of an expired business tax break, will delay any action on other so-called extenders until at least June following the demise this week of the Senateís two-year tax break patch.
House appropriators advanced a measure Thursday to fund the Justice and Commerce departments, along with science agencies, after endorsing a GOP gun proposal and sidelining a series of Democratic firearm policy amendments.
American manufacturing hit an important milestone in April, when the Commerce Department reported that the sector had recovered all the value lost in the recession.