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Democratic Senate finance committee chair: ‘IRS abandoned good judgment’
The political appointee who headed the IRS during the US tax agency’s abusive treatment of conservative groups insisted on Tuesday that he was not involved in the scandal. US senators grilled retired IRS boss Douglas Shulman about what he readily acknowledged was “inexcusable” behavior by agents who, from 2011, singled…
Sen. Baucus retiring in 2014
Senior aides to Sen. Max Baucus (D-MT) told The Washington Post on Tuesday that the long-serving Democrat has decided to retire from Congress rather than seek re-election. The Senate Finance Committee chairman has served in Congress since 1978, and played a key role in killing President Barack Obama’s proposal for…
Senators introduce bill to end trade curbs on Russia
WASHINGTON — A bipartisan group of US senators introduced legislation Tuesday that would scrap a decades-old law imposing trade restrictions on Moscow, saying it’s necessary as Russia joins the WTO. Washington’s former Cold War adversary has been given the green light to join the World Trade Organization, which means the…
Sen. Baucus resists push to renew Bush tax cuts
Key Senate Democrat resists push to renew Bush tax cuts before election (via The Christian Science Monitor) Likening the US tax code to the “hydra,” the many-headed Greek monster, Sen. Max Baucus (D) said Congress should take on the herculean task of tax reform by building consensus and trust behind…
China blocks up to $5 billion in US farm sales
WASHINGTON – The United States could sell China $5 billion more in farm goods if Beijing cut trade barriers, according to an official study Tuesday that is likely to stoke trade tensions between the two powers. “Results suggest that the elimination of Chinese tariffs and non-tariff measures could lead to…
Top Republican: Cut taxes by 10% … for the rich
Congressman Dave Camp (R-MI), the chairman of the House Ways and Means Committee, said he hopes to cut the tax rate for the richest individuals and corporations to 25 percent to help spur job growth. The top U.S. tax rate has been 35 percent for both individuals and corporations since…
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