According to The Washington Post, the new Chair of the Senate Finance Committee, Senator Ron Wyden intends to give in to the army of corporate lobbyists and extend the corporate tax breaks that would cost taxpayers over $700 billion in the coming decade.
To: Senator Ron Wyden, Chairman of the Senate Finance Committee
Subject: Corporations do not need tax break extensions
We are more than disappointed to learn that you, as the new Chair of the Senate Finance Committee, intend to continue the old ways on corporate tax breaks. Extending the expiring tax breaks will add $50 billion to the budget deficit while serving no useful purpose. According to Citizens for Tax Justice, the so-called corporate research and development credit only subsidizes research that would have been conducted anyway, and is used for decidedly unproductive purposes such redesigning food packaging. Ordinary taxpayers shouldn't be forced to subsidize accelerated depreciation, or Texas and Florida's preference for a regressive sales tax over a more progressive income tax, or promote Nascar racetracks, electric motorcycles and golf carts. The list goes on and on, as you know well.
We strongly urge you to change direction: close corporate loopholes, tax overseas profits of US corporations, bring in revenue and increase tax fairness.
Vulnerable Indiana 2nd District Congresswoman Jackie Walorski is walking a political high wire when it comes to immigration: if she supports comprehensive reform, she’ll enrage her Tea Party base; if she opposes it, she’ll further alienate the growing Hispanic community in her district. Indiana ADA organizer Jeremy Bernstein explains the role immigration will play in the one of the mostly hotly contested House races in the country.
Today is the final day to sign up for insurance under the Affordable Care Act (ACA). If you haven’t already done so, sign up at www.healthcare.gov.
What happens if you don’t sign up for health insurance? Don't panic if you have tried but were unable to finish your application online because of technical problems. There will be an extension for these individuals. Otherwise, you won't be able to buy individual health insurance under the ACA except under special circumstance (i.e. losing your job, getting married, or moving) until the next open enrollment. If you do not get coverage, the government may apply a fee of 1 percent of your annual income or $95 per person, whichever is higher.
So if you haven’t already, sign up now! (Unless you’re lucky enough to have Medicare!)
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