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Tax Legislation - enacted and proposed
New CBO report detailing US budget and debt impact. This study lays down a high level need for revenue increases and spending cuts. Neither of which can or should be Draconian in nature - just look at the EU for a template of policy gone amok. Rest assured every American will be impacted by actions of our legislators. There is no insight as to what will be implemented, just the problems we all will face by doing nothing (aka: taxmagedon on 1/1/2013) or by doing too much and jeopardizing economic recovery. Stay in contact with your tax adviser - planning will be needed by all! Here's the link: http://www.cbo.gov/publication/43288
Nov 17, 2011 - Congress repeals 3% surcharge on government contracts and gives businesses anywhere from a $2,400 to a $9,600 tax credit for hiring veterans who are short-term unemployed, long-term unemployed or disabled. The vote was 422-0 on this bill, showing a very rare unanimous vote of support for veterans.
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