President Proposing Tax Hikes

WASHINGTON — Seeking an elusive middle ground, President Barack Obama is proposing a 2014 budget that embraces tax increases abhorred by Republicans as well as reductions, loathed by liberals, in the growth of Social Security and other benefit programs.

The plan, if ever enacted, could touch almost all Americans.  The rich would see tax increases, the poor and the elderly would get smaller annual increases in their benefits, and middle income taxpayers would slip into higher tax brackets despite Obama’s repeated vows not to add to the tax burden of the middle class.  His proposed changes, once phased in, would mean a cut in Social Security benefits of nearly $1,000 a year for an average 85-year-old, smaller cuts for younger retirees.

Obama proposed much the same without success to House Speaker John Boehner in December. The response Friday was dismissive from Republicans and hostile from liberals, labor and advocates for the elderly.

But the proposal aims to tackle worrisome deficits that are adding to the national debt and placing a long-term burden on the nation, prompting praise from independent deficit hawks.  Obama’s budget also proposes new spending for public works projects, pre-school education and for job and benefit assistance for veterans.

Read more:  http://www.timesleader.com/news/national-news/412726/President-proposing-tax-hikes

House, Senate Approve ‘Fiscal Cliff’ Bill

Official portrait of United States House Speaker (R-Ohio). (Photo credit: Wikipedia)

Editor’s note:  Well it’s about damn time!

WASHINGTON — Congress’ excruciating, extraordinary New Year’s Day approval of a compromise averting a prolonged tumble off the fiscal cliff hands President Barack Obama most of the tax boosts on the rich that he campaigned on.  It also prevents House Republicans from facing blame for blocking tax cuts for most American households, though most GOP lawmakers parted ways with Speaker John Boehner and opposed the measure.

Passage also lays the groundwork for future battles between the two sides over federal spending and debt.

Capping a holiday season political spectacle that featured enough high and low notes for a Broadway musical, the GOP-run House voted final approval for the measure by 257-167 late Tuesday.  That came after the Democratic-led Senate used a wee-hours 89-8 roll call to assent to the bill, belying the partisan brinkmanship that colored much of the path to the final deal.

Read more:  http://readingeagle.com/article.aspx?id=440254

Progress Seen In Last-Minute ‘Fiscal Cliff’ Talks

English: President Barack Obama addresses a joint session of the United States Congress in the chamber of the House of Representatives at the United States Capitol on 24 February 2009. Español: Presidente Barack Obama dando un discurose por una sesión conjunta del Congreso de los Estados Unidos en la cámara de la Cámara de Representantes en el Capitolio de los Estados Unidos, 24 de febrero de 2009. (Photo credit: Wikipedia)

WASHINGTON — Working against a midnight deadline, negotiators for the White House and congressional Republicans in Congress narrowed their differences today on legislation to avert across-the-board tax increases.

Congressional officials familiar with talks between Vice President Joe Biden and Senate Republican leader Mitch McConnell said one major remaining sticking point was whether to postpone spending cuts that are scheduled to begin on Jan 1.

Republicans want to replace across-the-board reductions with targeted cuts elsewhere in the budget, and the White House and Democrats were resisting.

At the same time, Democrats said the two sides were closing in on an agreement over taxes.  They said the White House had proposed blocking an increase for most Americans, while letting rates rise for individuals with incomes of $400,000 a year and $450,000 for couples, a concession from President Barack Obama’s campaign call to set the levels at $200,000 and $250,000.

Read more:  http://readingeagle.com/Article.aspx?id=439707

Has Pennsylvania Lost Its Swing-State Status?

English: Pennsylvania county map (Photo credit: Wikipedia)

WASHINGTON — President Barack Obama’s victory in Pennsylvania marks the sixth straight presidential election in which state voters have picked the Democrat.

Which raises the question: Has Pennsylvania finally lost its swing-state status?

The battleground status of the historically competitive state was the subject of political scrutiny for much of 2012.  Even when the Republicans made a brisk, last-minute attempt to wrest it away when some polls showed the race tightening, Obama still won without breaking much of a sweat.

If Pennsylvania was shaded blue on a dry erase board after previous elections, this year it might be colored in with a permanent marker.  Pundits and politicians interviewed this week offered differing takes.

Read more:  http://www.mcall.com/news/local/elections/mc-pa-swing-state-status-lost-20121108,0,2981343.story

Sharp Exchanges Mark Foreign Policy Presidential Debate

With his family by his side, Barack Obama is sworn in as the 44th president of the United States in Washington, D.C., Jan. 20, 2009.  VIRIN: 090120-F-3961R-919 (Photo credit: Wikipedia)

BOCA RATON, Fla. – President Barack Obama sharply

Governor Mitt Romney (Photo credit: Wikipedia)

challenged Mitt Romney on foreign policy in their final campaign debate Monday night, saying, “Every time you’ve offered an opinion you’ve been wrong.”

The Republican coolly responded, “Attacking me is not an agenda” for dealing with a dangerous world.

Romney took the offensive, too. When Obama said the U.S. and its allies have imposed crippling sanctions on Iran to halt nuclear weapons development, the Republican challenger responded that the U.S. should have done more.

He declared repeatedly, “We’re four years closer to a nuclear Iran.”

Read more: http://readingeagle.com/article.aspx?id=422747

Americans Will Feel Paycheck Pinch As Payroll Tax Break Ends In January

WASHINGTON (AP) — President Barack Obama isn’t talking about it and neither is Mitt Romney. But come January, 163 million workers can expect to feel the pinch of a big tax increase regardless of who wins the election.

A temporary reduction in Social Security payroll taxes is due to expire at the end of the year and hardly anyone in Washington is pushing to extend it. Neither Obama nor Romney has proposed an extension, and it probably wouldn’t get through Congress anyway, with lawmakers in both parties down on the idea.

Even Republicans who have sworn off tax increases have little appetite to prevent one that will cost a typical worker about $1,000 a year, and two-earner family with six-figure incomes as much as $4,500.

Why are so many politicians sour on continuing the payroll tax break?

Read more: http://www.pennlive.com/midstate/index.ssf/2012/10/social_security_tax.html

Lack Of Presidential Ads Signals Pennsylvania Less Of A Swinger

Not so long ago, Pennsylvania stood unquestionably as a swing state, one presidential candidates of both major parties thought they could win.

Democratic candidates knew they had to win the state to get elected. Republican candidates knew that if they won it, they would likely be president.

Maybe Republican nominee Mitt Romney still really believes he can win Pennsylvania, but with the decision by the presidential campaigns and their affiliated super PACs to stop advertising on television in Pennsylvania after Labor Day, the state is President Barack Obama’s to lose.

As a result, the Keystone State is second-tier in importance behind states such as Florida, Ohio, Colorado, Virginia and even Wisconsin, which hasn’t voted for a Republican for president in even longer (1984) than Pennsylvania (1988).

Read more:

http://thetimes-tribune.com/news/lack-of-presidential-ads-signals-pa-less-of-a-swinger-1.1374266

Bipartisan Effort Shapes Action On City Distress Issues

HARRISBURG – While the city of Scranton struggles daily with cash-flow problems, key state lawmakers see any unveiling of comprehensive legislative proposals to help fiscally distressed cities as being months away.

A rollout of bills is anticipated early next year with the start of the new legislative session, said Sen. John Eichelberger, R-30, Hollidaysburg, chairman of the Senate Local Government Committee.

A bipartisan group in the Senate and House is working on a host of related issues, including an overhaul of the Act 47 program for fiscally distressed municipalities, municipal pension benefits, collective bargaining for public employees and the role of nonprofit institutions clustered in cities.

Since four legislative committees held joint hearings last fall on the future of Act 47, lawmakers involved in the effort to find solutions to the problems cities face with eroding tax bases and increased demand for services have emphasized its bipartisan nature.

Read more: http://thetimes-tribune.com/news/bipartisan-effort-shapes-action-on-city-distress-issues-1.1357868