Taxes

Offers Tax Credit For Teachers

EVANSVILLE, Indiana (August 12, 2008) - Indiana Governor Mitch Daniels says schools must find a way to increase spending in Hoosier classrooms, and he will propose actions to free resources for student learning.

Daniels will ask the next Indiana General Assembly to require that schools work through the Indiana Department of Administration (IDOA) to purchase goods and services unless they can show they can get better prices another way. A 2006 law encouraging collective purchasing has had some success, but the governor believes much more must be done.    » read more »

August 12, 2008 -- (WASHINGTON, D.C.) – Most corporations doing business in the United States pay no federal income tax to the federal government according to a new GAO (Government Accountability Office) study [PDF] requested by U.S. Senators Byron Dorgan (D-N.D) and Carl Levin (D-MI).

The report says that two thirds of both American companies and foreign companies doing business in the United States end up avoiding all income tax obligations to the federal government despite corporate sales totaling $2.5 trillion.    » read more »

AWEA Second Quarter Market Report: U.S. now leads world in wind energy generation but delay in extending federal tax credit places 2009 project pipeline on hold, discourages manufacturing investment

August, 2008 -- U.S. wind farms now generate more electricity than any other nation in the world and are on track to expand by over 45% this year, but the expiration of the federal production tax credit (PTC) less than five months from now threatens this spectacular progress, the American Wind Energy Association (AWEA) said today in its second quarter market report.

Wind turbine: Photo by Vik Walker (CC)    » read more »

Sen. Menendez's Tax Certificates Legislation Would Increase Competition, Diversity in Telecommunications Industry

August 5, 2008 -- WASHINGTON – U.S. Senator Robert Menendez (D-NJ) is supporting diversity in media ownership with new legislation to restore the tax certificate policy for sales of telecommunications properties to socially disadvantaged businesses, or SDBs.    » read more »

Prepared Remarks Before Tax Analysts Conference on RRA '98

WASHINGTON, July 18, 2008 –– IRS Commissioner Doug Shulman: Good morning. I would like to thank Chris Bergin for the opportunity to be here today to discuss the IRS Restructuring and Reform Act. I greatly enjoyed my work on the Restructuring Commission, and it is a real pleasure to see here today so many familiar faces from that time – even if we all look a little older.    » read more »

June 17, 2008 -- Connecticut Governor M. Jodi Rell today signed into law a bill that rolls back a planned increase in the state gas tax and opens the door to more gasoline stations offering customers a discount for making purchases with cash.

Senate Bill 1000, An Act Concerning Adjustments to Certain Petroleum Products Taxes, Petroleum Franchise Agreements, Gasoline Discounts for Consumers, Home Heating Oil and Propane Gas Contract Deposits and the Fuel Conservation Account, was passed during the special session last week.    » read more »

June 12, 2008 -- John McCain says an important part of his economic plan is "cutting taxes for the middle class." But a new study by the non-partisan Tax Policy Center shows that a quarter of Senator McCain's tax cuts would go to households making $2.8 million or more and that Senator Obama's tax cuts would provide three times the middle class tax relief that Senator McCain's would. [johnmccain.com, accessed 6/12/08]    » read more »