Similar Stories to White House Veto Threat Shelves Possible Tax Plan on Bing News

Speculation on Capitol Hill on Tuesday focused on a potential agreement to permanently enact tax breaks on business investments in new equipment and research and development as part of a plan that would renew dozens of expired tax breaks for businesses and individuals both. The White House immediately weighed in with a veto threat, saying Congress should also make permanent a top Obama administration priority: extending more generous tax credits for the working poor and people with children. "The president would veto the proposed deal because it would provide permanent tax breaks to help well-connected corporations while neglecting working families," deputy White House press secretary Jennifer Friedman said. In trade-offs that angered the administration but gave political wins to top Senate Democrats, the emerging pact would also have made permanent tax breaks for college tuition, parking and transit subsidies, and a deduction for state and local sales taxes.

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BING NEWS:
  • Prospects dim for property tax compromise after sour meeting between administration and lawmakers
    To the frustration of legislative leaders, Gov. Phil Scott did not attend the meeting where his team unveiled proposals. But officials said he’d never planned to be there.
    06/12/2024 - 4:31 pm | View Link
  • Lawmakers rebuke Gov. Scott's 'fiscally irresponsible' property tax lowering proposal
    On Wednesday afternoon Gov. Phil Scott proposed his new plan to lawmakers. Members of his administration said their plan would lower the average property tax increase to roughly 4-6% percent down ...
    06/12/2024 - 2:33 pm | View Link
  • Governor should veto short-term rental bill that imposes burdens on owners | Guest column
    For many residents, sharing a home is not just a source of income, but a way of life that enriches communities and helps small businesses.
    06/11/2024 - 10:08 pm | View Link
  • Scott vetoes tax increase proposal
    Republican Gov. Phil Scott has vetoed Vermont's annual property tax bill in response to double-digit increases proposed by the Democratic majority Legislature and is calling for relief for taxpayers.
    06/11/2024 - 6:28 am | View Link
  • House Republicans pass first funding bill despite White House veto threat
    House Republicans on Wednesday passed their first funding bill for fiscal 2025, laying out a proposed blueprint for the Veterans Affairs (VA) Department and military construction that also includes a ...
    06/5/2024 - 3:58 am | View Link
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