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Gingrich proposal: Let businesses set their own taxes

The biggest debate in Washington as the year closes is how long — or if — to extend tax cuts passed during the Bush Administration. It appears that Democrats will concede to Republicans and extend the tax cuts for another few years, in exchange for an extension of unemployment benefits,…

GOP, Dems nearing deal on taxes, jobless benefits

GOP, Democrats nearing deal on jobless benefits, temporary extension of Bush-era tax rates An outline of a bipartisan economic package is emerging that would temporarily extend the Bush-era tax rates for all taxpayers, while extending jobless benefits for millions of Americans. Differences remained over details, including White House demands for…

GOP Sen. Mark Kirk: Extending jobless benefits ‘misguided,’ but tax cuts for the rich necessary

Republican Mark Kirk, hours away from being sworn in as a US senator, said Monday that efforts to extend jobless benefits are misguided but argued it is imperative to extend Bush’s tax cuts for wealthy Americans. On MSNBC’s Morning Joe Monday, Kirk said current proposals to extend unemployment benefits “take…

Senate not scheduled to vote on extending jobless benefits

UPDATE: Republicans in the House have blocked a bill that would have extended unemployment benefits until the end of February, the Associated Press reports. Two Democratic senators urged Congress to extend unemployment benefits for another year Wednesday, but no vote has been scheduled and the annual Thanksgiving recess is only…

DeMint willing to ‘compromise’ on extending all Bush tax cuts

Tea party favorite Sen. Jim DeMint (R-SC) has said that he is willing to work with President Barack Obama to pass an extension for the Bush-era tax cuts. DeMint suggested that he would only be winning to accept a deal where richest Americans are included. “I hope we can get…

Obama opposes permanent extension of tax cuts for rich

President Barack Obama said on Friday he does not want to permanently extend tax cuts for the wealthiest Americans, sending another signal he is willing to forge some sort of compromise with newly emboldened Republicans to win an extension for the middle class. The White House has been hinting it…

Obama reportedly agrees to allow rich bigger tax cut than middle class

Update at bottom: White House suggests that tax cuts for wealthy will not be permanent David Axelrod, the senior adviser to President Barack Obama, says that the White House has conceded to Republicans in giving into tax cuts for the wealthy, a legacy of a Bush-era policy to reduce federal…

GOP, Obama embrace Bush tax cuts compromise

White House signals new flexibility on extending Bush tax cuts for all A possible compromise on extending Bush-era tax cuts for rich and poor alike – at least for a while – is in the works after the Republican triumph in midterm elections. A day after President Barack Obama signaled…

Obama open to discussing ‘broad’ tax cut extension for rich

WASHINGTON (Reuters) – President Barack Obama is open to the idea of discussing an extension of Bush-era tax cuts for all income levels, the White House said on Thursday. Two days after congressional elections, White House spokesman Robert Gibbs signaled that Obama might consider a compromise with Republicans that would…

Republican leader rejects compromise with Obama on tax cuts

The top Republican in the House of Representatives called Thursday for a full extension of tax cuts enacted during the Bush administration, rejecting any compromise with President Barack Obama. House Minority Leader John Boehner dismissed the latest call by Obama to extend tax cuts for all but the wealthiest Americans.…

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