Obama

Obama Jobs Act – 2012 Payroll Tax cuts, Unemployment Extension, Infrastructure Spending and Small Business Incentives

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[Update Sep 2011] – President Obama has revealed details on his new $447 billion Americans Jobs Act and it is pretty much in line with what I had referenced in my earlier update (see below) before his speech. Here are the main things he is proposing that now go to Congress for review and approval: [...]

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Obama’s 2012 Job Creation Stimulus and Tax Cuts – Can the New Economic Plan Really Boost The Economy and Lower Unemployment?

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[Update - American Jobs Act a.k.a 2012 Economic Stimulus] In what is essentially the 2012 stimulus package, President Obama has released details on the American Jobs Act which involves spending over $400 billion dollars to boost economic growth. The key provisions are: – Extension of employee payroll tax cuts into 2012, which were due to [...]

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Health Insurance Tax Credits to Help Millions of Middle-Class Families in Affordable Insurance Exchanges

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As part of new regulations under Obama’s health care legislation the U.S. Department of the Treasury and the Department of Health and Human Services (HHS) today took the next steps to establish Affordable Insurance Exchanges – one-stop marketplaces where consumers can choose a private health insurance plan that fits their health needs and have the [...]

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2012 Payroll Tax Credit and Unemployment Insurance Benefits Extension

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[Updated- 2012 Payroll Tax Credit Holiday, Unemployment Benefits and Medicare Doctor Payments Extended to Dec 31st] With House Republican support Congress has passed legislation extending the federal payroll tax holiday through the end of the year without demanding spending cuts to pay for it. This was a concession aimed at averting another repeat of their [...]

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2013 Debt Ceiling Increase Debate – Social Security, Medicare, Medicaid, Defense, Education and Food Stamp Spending Cuts

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[2013 Update] As I was updating this article, originally written in mid-2011 following the first debt ceiling deal, I got a major sense of deja-vu. After 18 months we are back in the same place with a dysfunctional Congress who barely passed legislation to avert the fiscal cliff.  But it’s my job to write so [...]

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Obama’s 2011 Deficit Reduction Plan – Reducing the National Debt By Cutting Medicare, Defense Spending and Raising Taxes

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Following on the heels of the protracted budget extension debate and as a precursor to the fight for raising the $14.3 trillion national debt ceiling, President Obama has revealed his high level plan to tackle America’s growing  national debt challenge. His debt plan is also a response to the Republican’s 2012 budget plans (announced by Paul Ryan, R-Wisconsin), [...]

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2013 to 2018 American Opportunity Education Tax Credit (AOTC) Extension – Eligibility, Income and Phase-out Limits

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[2013 Update on Education Credits] Congress and the Obama administration have reached an agreement that will extend the American Opportunity Tax Credit (AOTC) for a further 5 years (into 2018) following the latest round of fiscal cliff negotiations. The AOTC allows parents and students to receive a tax credit of up to $2,500 for college expenses, based on certain income limits, and replaced [...]

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2012 Payroll Tax Credit Holiday Extended Till Year End. Extensions For Unemployment Benefits and Medicare Payments Also Approved

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[Updated- 2012 Payroll Tax Credit Holiday, Unemployment Benefits and Medicare Doctor Payments Extended to Dec 31st] With House Republican support Congress has passed legislation extending the federal payroll tax holiday through the end of the year without demanding spending cuts to pay for it. This was a concession aimed at averting another repeat of their [...]

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Obama’s 2012 Budget Proposal – What It May Include

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[Updated Feb 14 2011] President Obama has officially released his administration’ $3.7 trillion fiscal budget blueprint for 2012, which will result in a $1.65 trillion deficit (10.9% of GDP) in the current fiscal year – the largest dollar amount in U.S. history. With cutting the federal deficit a big focus, the proposed budget would trim [...]

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A New 2011 Economic Stimulus Package With Obama-Bush Tax Cuts and Unemployment Benefit Extensions

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[Update - No New Taxes with Tax Extensions Approved] President Obama has now signed into law a bill that covers a temporary extension of all the bush-era tax cuts. The new bill also contains extensions to some of the 2008 stimulus tax breaks, and even has some new tax cuts. With this legislation he has essentially created [...]

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