Posted by Austan Goolsbee Today, the President’s Economic Recovery Advisory Board (PERAB) approved its report on tax reform and sent it to the President. Read the report (pdf). Letter to the President from Chairman Paul Volcker (pdf). The PERAB report fulfills the specific mandate they were given: to discuss the pros and cons of a spectrum of reform ideas [...]
Posted by Jesse Lee When President Obama came into office, he committed to providing the best value for the American people while spending less money. That’s why, on his first full day on the job, the President froze the salaries of senior White House staff, and then expanded that freeze to all senior Administration appointees this [...]
Posted by Stephanie Cutter As the Administration works to implement the Affordable Care Act, it is critically important to ensure that consumers across the country have accurate information about their new rights and benefits under the new health insurance law. Throughout the Congressional debate on health reform, Americans were bombarded by the opponents of reform with rumors, misinformation [...]
Posted by Secretary Kathleen Sebelius As a former Governor, I know that economic growth often starts with small businesses that have big ideas. As Secretary of Health and Human Services, I’ve seen how a breakthrough in a lab can lead to a life-saving medication in medicine chests across America. Today, my colleagues Treasury Secretary Timothy Geithner [...]
Posted by Dan Pfeiffer It’s Tax Day and Karl Rove is at it again. His latest misleading piece is an online column in the Wall Street Journal suggesting that taxes have increased under President Obama. His case is undermined by one key point: It’s false. The reality is that federal taxes have been reduced by $173 billion [...]
Posted by Norm Eisen Today, the President released his 2009 federal income and gift tax returns. He and the First Lady filed their income tax return jointly and reported an adjusted gross income of $ 5,505,409. The vast majority of the family’s 2009 income is the proceeds from the sale of the President’s books. The Obamas paid [...]
Posted by Dan Pfeiffer Today is Tax Day, and while a lot of Americans have already finished their returns and submitted them, many folks will take time out today to fill theirs out and make the trip to the Post Office or hit send before midnight. Two days ago we posted a look at the tax relief [...]
Posted by Jesse Lee As April 15th approaches, the President discusses several of the tax breaks for middle class families he has signed into law. Find out more about the Making Work Pay tax credit, breaks for first-time homebuyers, rewards for making your home more energy efficient and more through our Tax Savings Tool.
Posted by Dan Pfeiffer There has been a lot discussion about reports that some businesses are expecting some additional costs from health reform. The problem doesn’t lie with corporate accounting, it lies with those who have politicized that accounting, treating first quarter earnings from about a dozen companies as a way to judge the entire impact [...]
Posted by Jared Bernstein Editor’s Note: In case you missed them, read Part 1, Part 2 and Part 3. Today’s Recovery Act in Action episode takes place in Durham, NC at Cree, Inc., America’s foremost producer of LED lighting. It’s a tale of many important economic advances coming together: cutting- edge energy-saving technology, export-led growth, and most importantly, good manufacturing [...]
Posted by Macon Phillips Thanks in large part to tax benefits in the Recovery Act, taxpayers are seeing larger refunds from their 2009 tax returns this season — according to the IRS, average tax returns are up by almost 10 percent this year. While these tax return averages are interesting … the question you’re probably asking is “Do [...]
Posted by Administrator Karen Mills Ed. Note: You can watch video of each Cabinet member describing what his or her department or agency has accomplished this year and what to expect in the year ahead at our The President’s Cabinet Reporting to You page. Today the President went to a small business in Baltimore to announce [...]
Posted by Jesse Lee President Obama and Vice President Biden held a Middle Class Task Force meeting during which they discussed key initiatives for middle class families. Topics of discussion previewed the major themes of the President’s State of the Union address, which include creating good jobs, addressing the deficit, changing Washington, and fighting for middle [...]
Posted by Jesse Lee This morning the President announced a Presidential Memorandum putting a common sense restriction in place to put government on the side of the taxpayer: blocking contractors who are delinquent on their taxes from receiving new government contracts. He also called on Congress to go further and give the government the tools [...]
Posted by Emanuel Pleitez Starting at 2:00 PM EST today, the subcommittee on tax reform for the President’s Economic Recovery Advisory Board (PERAB) will hold its next public meeting. Listen to the meeting live at www.whitehouse.gov/live. The speakers today include: IRS Taxpayer Advocacy Panel (read the panel’s public response to PERAB’s Request for Public Comment [...]
