President Barack Obama formally unveiled the administration’s fiscal 2014 budget on April 10, 2013 with some familiar proposals for tax reforms. Among other proposals, President Obama is proposing to extend 100-percent first year depreciation into 2013, giving firms an incentive for investing in plants and equipment now. 

A parochial issue -- one which was discussed vigorously during the U.S. 2007 – 2009 economic contraction -- is how does corporate Federal income tax policy affect incentives for businesses to undertake new investments in capital goods? Read more...

In a high stakes competition, what team would deliberately put itself at a disadvantage? Americans must confront a similar question as we consider our path forward in the 21st century. Many of the best jobs and our ability to compete in a global marketplace are linked to STEM (Science, Technology, Engineering and Math) fields. Workers in STEM earn on average 26 percent more than their non-STEM counterparts. Moreover, job openings in STEM occupations outnumber unemployed workers by nearly 2 to 1.   

Knowing this, why do we consciously put our nation at a disadvantage by failing to provide a strong STEM education for as many students as possible? By failing to improve access to STEM, especially for under-represented groups such as girls and minorities, we are compromising the ability of our youth to compete for the jobs of tomorrow. The latest available research shows that in 2005, only 5.1 percent of science and engineering jobs were held by African-Americans and 5.2 percent were held by Hispanics. In addition, a 2012 report from the Institute for Women’s Policy Research showed that women’s participation in STEM fields has actually declined. Women earning associate degrees or certificates in STEM fields dropped from 33.8 percent in 1997 to 27.5 percent in 2007.

Evidence that shows the United States leaves alarming numbers of students behind came to light in the Trends in International Math and Science Study. U.S. students in fourth and eighth grades lagged their counterparts in more than half a dozen nations in Asia and Europe. While average scores of American students were not much lower than averages in higher ranked nations, the 2011 study revealed a huge difference in the proportion of U.S. students who scored at the highest levels. Only 7 percent of U.S. students achieved at advance levels in eighth grade math. That compares to 47 percent of eighth graders in South Korea and 48 percent of eighth graders in Singapore. We know how to close the STEM achievement gap. We need to act now.  

America and our coalition allies are winning the war in Afghanistan. This garners little attention in the media as many are focused on the impacts of sequestration and events in other parts of the world. Even Afghans seem too busy managing their own lives to notice this gradual transition. Although there will be bumps along the way, the days of this country being dominated by the Taliban and other extremists are over. As we enter this new chapter in Afghanistan, we must responsibly retrograde and deconstruct hundreds of bases that housed thousands of coalition troops. Our failure to act could very well reverse the momentum we've gained through years of hard work and sacrifice.

The Obama administration recently announced that later this year negotiations will start for a Transatlantic trade and investment agreement with the European Union. This move anticipates the completion of the Transpacific Partnership Agreement (TPPA) negotiations this fall. In the coming weeks, the administration will be asking Congress for trade promotion – or “fast track” - authority to cover both treaties.

The TPPA has been touted as the model trade agreement for the 21st century, and the U.S. hopes that it will serve as a rough draft for the Atlantic treaty. Eleven countries are involved, with others in the pipeline, and it will be the largest trading regime in the world save the WTO. It also seeks to liberalize trade in new and significant ways, giving foreign corporate investors unprecedented rights and protections. It has been described as “NAFTA on steroids.”

It's a familiar narrative: President Obama pushes for higher taxes, while Republicans remain steadfastly opposed to bigger levies on personal income. However, recent statements from some GOPers hint at a temptation to go along with the idea of hitting the larger oil and natural gas companies with new exactions. Who wants to be seen on the side of “Big Oil”? Congressional resolve will be tested now that the White House has released its budget which, true to political form, raises taxes on a subset of the largest American oil and gas companies. Rather than offering a solid plan for across-the-board tax reform, President Obama -- in his unwavering opinion that these companies are making too much money -- is sacrificing jobs, energy production and the very government revenue he's seeking to generate.

You’re paying more for gasoline. The oil industry’s pocketing the profits. And they don’t want you to know it.
 
Complaints about biofuels this year are the latest shiny ball for the oil industry, meant to distract the public from what’s really biting into their household budgets. Refining margins this year have been at record levels. Oil companies are making more money, even as gas prices for February and March were the highest in history. If you want to know why you’re paying more at the pump, look no further than oil executives’ pockets. How they keep a straight face while espousing concern for American drivers is beyond me.

On Wednesday, Rep. Phil Roe (R-Tenn.) accused the Obama administration of creating “uncertainty” in labor-management relations by attempting to ensure the continued functioning of the National Labor Relations Board. In reality, GOP attacks on the Board are responsible for the current uncertainty.
 
Roe’s ludicrously mistitled “Preventing Greater Uncertainty in Labor-Management Relations Act,” which the House will vote on this week, is yet another example of the GOP’s contempt for American workers. The act would effectively prohibit the Board from functioning until it has at least three Senate-confirmed members or until the Supreme Court rules on the legitimacy of President Obama’s January 2012 recess appointments to the Board. Thus, Roe’s notion of “preventing uncertainty” would likely involve denying reinstatement and back pay to workers who are unlawfully sacked and denying a vote to workers who want to form a union.

Today, the White House’s Joining Forces initiative will celebrate its second anniversary. Finding employment for our nation’s veterans and military spouses is a cause that First Lady Michelle Obama has embraced during her time in the White House. Both she and Second Lady Dr. Jill Biden have provided unprecedented leadership and we have begun to see positive change.
 
But we are at a critical juncture. Over the next five years, more than one million servicemen and women are expected to leave the military. All of them are post-9/11 veterans and many will be under 25 years old. With unemployment rates sitting near 10 and 20 percent for these two populations respectively, it is time for renewed focus and a change in approach.

For a country that prides itself on American ingenuity and the free enterprise system to solve problems and create new products, the recent shift to a command-and-control economy is becoming increasingly troubling. 

During the past several years, self-appointed autocrats in government have been inserting themselves into our day-to-day lives in the mistaken belief that we need to be protected from ourselves. The mayor of New York City led an aborted attempt to ban large sodas because we’re powerless against carbonated calories; the government tells banks who they can lend money to despite the potential financial risk; utilities are ordered to produce a percentage of their electricity from green energy sources despite the cost to consumers; and motorists fill up with government gas and diesel concoctions designed by environmental activists and bureaucrats rather than by automotive engineers and energy experts.