19. February 2012 by Jim Sutliff.

Congress passed a measure to extend the payroll tax cut for the remainder of 2012.  The measure passed the House 293-132 and the Senate 60 -36.  In the Senate, 14 Republicans voted for the measure and 5 Democrats and 1 Independent were opposed.  The bill will lower payroll taxes for 160 million workers.

To read a related Roll Call article, please click here:

http://www.rollcall.com/news/congress_seals_the_deal_sends_payroll_tax_bill_to_obama-212521-1.html?pos=hbtxt

Jim Sutliff

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16. February 2012 by Jim Sutliff.

The House and Senate could vote on the payroll tax deal as early as Friday.  Four Democratic Senators and all 13 House Representatives at the payroll tax conference signed the agreement.  Republic Senators did not sign the agreement but that should not prevent passage of the tax cut measure.  The payroll tax cut agreement resolves an issue early in the election year.

To read a related Roll Call article, please click here:

http://www.rollcall.com/news/conferees_sign_payroll_tax_deal-212503-1.html?pos=hftxt

James Sutliff

Posted in Congress, Tax, Economy, Presidential, Budget, 2012, Republican, Regulatory, Democrat, Business, Election, General, Politics, Administrative | No Comments »

13. February 2012 by Jim Sutliff.

Republican leaders in the House are supporting the extension of the payroll tax cut without reductions in spending.  This clears a major hurdle in negotiations to extend the payroll tax cut which applies to 160 million workers.  The payroll tax cut is set to expire at the end of February.  The payroll tax cut extension may reach the House floor by the end of the week.

To read a related Reuters article, please click here:

http://www.reuters.com/article/2012/02/13/usa-taxes-payroll-idUSL2E8DDC0D20120213

Jim Sutliff

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22. January 2012 by Jim Sutliff.

Newt Gingrich won the South Carolina primary and has the lead in delegates for the Republican Presidential nomination.  Gingrich finished with 40% of the vote and gained momentum heading into Florida.  Romney came in second with 27% and Santorum finished in third with 17% of the vote.  The Gingrich win should help with fundraising as well as building a campaign infrastructure.  The Florida primary will be held on January 31st and is a winner take all contest.  Also, Florida is a closed primary and only Republicans are allowed to vote in the contest.  In addition, there is expected to be over 200,000 votes cast through early voting and absentee ballots.  The next Republican Presidential debate will be held in Tampa on January 23rd.  There are 50 delegates at stake in the Florida Republican primary.  After Florida, the next contests are the Nevada and Maine Republican caucuses scheduled for February 4th.

To read a related Roll Call article, please click here:

http://www.rollcall.com/news/Gingrich-Rolls-to-Victory-in-South-Carolina-211662-1.html?pos=hftxt

To read a related MSNBC article, please click here:

http://firstread.msnbc.msn.com/_news/2012/01/22/10210334-first-thoughts-the-race-is-on

Jim Sutliff

Posted in Economy, Infrastructure, Presidential, 2012, Primary, Debate, Tax, Republican, Election, Democrat, Fundraising, General, Politics, DC | No Comments »

22. December 2011 by Jim Sutliff.

House Republicans are set to approve a two month extension of the payroll tax cut.  House Republican John Boehner has come to an agreement with Democratic Senator Harry Reid.  The agreement would extend the tax cut for two months and begin negotiations to work out a deal for a full year extension. The payroll tax cut lowers the rate from 6.2% to 4.2%.

To read a related Roll Call article, please click here:

http://www.rollcall.com/news/john_boehner_harry_reid_reach_deal_payroll_tax_holiday-211247-1.html?pos=hftxt

Jim Sutliff

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17. December 2011 by Jim Sutliff.

The Senate passed a two month extension of the payroll tax cut.  On Saturday, the measure passed the Senate with a vote of 89-10.  The payroll tax cut amounts to a two percent drop from 6.2% to 4.2%.   An increase in fees for new mortgages backed by Fannie Mae and Freddie Mac will cover the cost of the tax cut.

To read a related MSNBC article, please click here:

http://www.msnbc.msn.com/id/45707185/ns/politics/

James Sutliff

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12. December 2011 by Jim Sutliff.

Republican and Democratic officials have agreed on a spending bill through October 1st 2012.  Specific details of the agreement are expected to be released on Tuesday.  The measure still requires approval of the Senate and the House of Representatives.  The current spending bill is set to expire this Friday.

To read a related Reuters article, please click here:

http://www.reuters.com/article/2011/12/13/us-usa-budget-idUSTRE7B72MK20111213

James Sutliff

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8. December 2011 by Jim Sutliff.

A measure supported by the Democrats that would cut the payroll tax was blocked in the Senate.  The bill only received 50 votes and needed 60 votes to move forward.  The payroll tax on the first $110,100 would have fallen to 3.1% from 4.2% in 2012.  An agreement on some form of a payroll tax cut or extension is likely in the next few weeks.

To read a related Bloomberg article, please click here:

http://www.bloomberg.com/news/2011-12-08/senate-blocks-dem-bill-to-expand-payroll-tax-cut.html

James Sutliff

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27. November 2011 by Jim Sutliff.

The integration of fiscal policy is an important step for Euro zone countries in solving their debt crisis.  A recent plan would utilize bilateral agreements instead of changing European Union treaties.  Bilateral agreements could make implemention of fiscal policy changes faster than the time consuming process of changing treaties.

To read a related Wall Street Journal article, please click here:

http://online.wsj.com/article/SB10001424052970204630904577062592535969680.html?mod=WSJ_hp_MIDDLENexttoWhatsNewsThird

Jim Sutliff

Posted in Economy, Budget, International, Tax, Regulatory, General, Politics, Administrative | No Comments »

13. November 2011 by Jim Sutliff.

The debt super committee has 10 days left before the November 23rd deadline.  The 12 member committee comprised of six Democrats and six Republicans must come to an agreement by the deadline or automatic spending cuts will take effect.  In addition, inaction could lead to a downgrade of U.S. debt from credit agencies.

To read a related Fox News article, please click here:

http://www.foxnews.com/politics/2011/11/12/obama-warns-super-committee-not-to-cheat-on-deficit-mandate/

Jim Sutliff

Posted in Tax, Republican, Infrastructure, Economy, Budget, Politics, Healthcare, Administrative, Democrat, Estate Tax, General, Uncategorized | No Comments »

25. September 2011 by Jim Sutliff.

The Senate voted 59-36 against a House spending bill.  The Republican bill in the House was designed to cut $1 billion in spending to pay for disaster relief.  Senate Democrats are expected to move for a vote on an alternative measure by Monday evening.  A spending bill has to be approved by the first of October to avoid a government shutdown.

To read a related Roll Call article, please click here:

http://www.rollcall.com/news/senate_votes_to_shelve_house_spending_bill-208979-1.html?pos=hln

James Sutliff

Posted in Republican, Tax, Infrastructure, Budget, Regulatory, General, DC, Democrat, Election, Administrative | No Comments »

6. August 2011 by Jim Sutliff.

World leaders are meeting this weekend to discuss the debt crises in Europe and the United States.  The downgrade of U.S. debt by Standard and Poor’s on Friday will test the strength of financial markets.  Also, markets may negatively react if the European central bank does not purchase Italian and Spanish debt on Monday.

To read a related Reuters article, please click here:

http://www.reuters.com/article/2011/08/06/us-eurozone-idUSTRE7712HB20110806

Jim Sutliff

Posted in Economy, Federal Reserve, Presidential, 2012, Budget, Treasury, Congress, Tax, Democrat, Business, General, Politics, Republican, Administrative | No Comments »

2. August 2011 by Jim Sutliff.

The Senate voted 74-26 in support of the debt plan.  The plan was supported by 46 Democrats and 28 Republicans.  The plan is expected to cut spending by $2.4 trillion and raise the debt ceiling by $2.1 trillion.  However, most of the spending cuts will take effect after the 2013 election. 

To read a recent Roll Call article, please click here:

http://www.rollcall.com/news/Senate-Clears-Debt-Deal-207950-1.html?pos=hatxt

James Sutliff

Posted in Tax, Infrastructure, Economy, Budget, Republican, Politics, Business, Democrat, Election, General, Administrative | No Comments »

23. July 2011 by Jim Sutliff.

Republican Congressman Dave Camp predicted that there will be a compromise to raise the $14.3 trillion debt ceiling by August 2nd.  Camp would like the debt deal to include an overhaul of the tax code.  In addition, Camp has indicated that any tax holiday for corporations should to be tied to securing jobs and corporate investments within the United States.  Camp is the House Ways and Means Committee Chairman.

To read a related Bloomberg article, please click here:

http://www.bloomberg.com/news/2011-07-22/republican-camp-predicts-debt-ceiling-increase-urges-overhaul-of-tax-code.html

Jim Sutliff

Posted in Economy, Congress, Presidential, 2012, Budget, Tax, Republican, Business, Democrat, General, Politics, Administrative | No Comments »

6. July 2011 by Jim Sutliff.

Republican Representative Eric Cantor indicated that there could be a compromise on tax loopholes.  Republicans and Democrats have been in talks about raising the $14.3 trillion debt ceiling and have been negotiating tax loopholes, tax increases, and spending cuts.  The debt ceiling has to be raised byAugust 2nd to prevent a default.

To read a related Reuters article, please click here:

http://www.reuters.com/article/2011/07/06/us-usa-debt-idUSTRE7646S620110706

James Sutliff

Posted in Tax, Economy, Budget, Republican, General, Business, Democrat, Administrative | No Comments »