Taxes, Tax Increase | featured news

News flash: Congressional Republicans want to raise your taxes. Impossible, right? GOP lawmakers are so virulently anti-tax, surely they will fight to prevent a payroll tax increase on virtually every wage-earner starting Jan. 1, right?

President Barack Obama, two years into a presidency that increased spending to prime a weak economy, is turning his attention to the nation's crushing debt and trying to counter a Republican anti-deficit plan with a framework of his own that tackles politically sensitive health care programs while also increasing taxes....

President Barack Obama is sending Congress a $3.73 trillion spending blueprint that pledges $1.1 trillion in deficit savings over the next decade through spending cuts and tax increases.

The White House and Congressional leaders are weighing options for reducing the federal deficit, including a bipartisan commission that could force tax increases and spending cuts.

U.S. President Barack Obama will keep his promise not to raise taxes on people making less than $250,000 a year, the White House said Monday, rebutting comments by administration officials that indicated otherwise.

The U.S. economy is no longer on the edge of collapse, but Americans must reduce the budget deficit, Treasury Secretary Timothy Geithner said Sunday.

House Democrats shouldn't expect votes from Republicans in passing a bill that increases taxes on the rich to pay for health care reform.