CBS News has a neat article about how we are still destroying Haiti two years after the terrible earthquake. But the economy of rice in Haiti says everything about the condition the country is in. The US government subsidizes and “donates” ton after ton of rice in Haiti and in so doing has through the [...]

The House today will vote on H.R. 3630, The Middle Class Tax Relief & Job Creation Act.  The legislation extends a number of provisions scheduled to expire at the end of the year and includes fully paid-for extensions of the payroll tax holiday and a reformed unemployment insurance program, along with a two-year freeze on [...]

Economic Research Affirms that Reform is Critical to Improving U.S. Job Creation and Investment   Washington, DC – This week, a group of 20 academics and economists sent a letter to the House Committee on Ways and Means and the Senate Finance Committee calling for a reduction in the corporate tax rate.  Noting that the [...]

Demands Treasury Department Provide Cost-Benefit Analysis and Detail Administrative Burdens Before Acting Washington, DC – Today, Oversight Subcommittee Chairman Charles Boustany (R-LA) called on Treasury Secretary Timothy Geithner to suspend the proposed Internal Revenue Service (IRS) regulation that would require banks to disclose interest paid to nonresident aliens.  In a letter to Secretary Geithner, Boustany [...]

So the rumor is that S&P had a $2 trillion error in its calculation that caused it to downgrade the U.S. debt rating. The SEC now wants to enforce new regulations when there is an error by ratings agency. S&P defended itself claiming it has an error policy that “has proven to be effective and, [...]

Washington, DC – In a report requested by Ways and Means Subcommittee on Social Security Chairman Sam Johnson (R-TX) and Senate Judiciary Committee Ranking Member Chuck Grassley (R-IA) that was released last week, the Government Accountability Office (GAO) found that participation in the Social Security Administration’s (SSA) return to work program, known as Ticket to [...]

Unfunded entitlements owed by the US government now stands at $61.6 trillion, which amounts to $534,000 per U.S. household. The US added $1.5 trillion to the current federal debt in 2010, but added a $5.3 trillion deficit to future entitlements at the same time. Social Security accounted for $1.4 trillion, medicare accounted for $1.5 trillion [...]

Camp: Time for President to join GOP and put forward specific solutions Washington, DC — Ways and Means Committee Chairman Dave Camp (R-MI) made the following statement in response to the announcement by Moody’s Investors Services that America’s credit rating will “depend on the outcome of the negotiations on deficit reduction. A credible agreement on [...]

Today, in a hearing in the Ways and Means Committee, job creators and tax experts discussed how today’s current tax system inhibits, rather than promotes, job creation.  Excerpts from witness testimony demonstrate that lower tax rates, more certainty and greater simplicity in the tax code are vital to a climate ripe for job growth and [...]

Organizations representing 95 percent of America’s businesses – including the U.S. Chamber of Commerce and the National Federation of Independent Business – sent a letter to the House Ways and Means and Senate Finance Committees opposing a corporate-only approach to tax reform.  The letter calls on Congress to act on comprehensive tax reform. In the [...]