Domestic Taxes

The White House seized on House GOP Leader John Boehner, suggesting he is agreeing with President Obama on taxes.

House Minority Leader John Boehner (R-Ohio) stressed Sunday that he's pushing for extension of all the Bush-era tax cuts.

Democratic leaders returning to Washington next week will confront the daunting task of extending Bush-era tax cuts, which could haunt them.

The anti-tax Tea Party is gaining traction as 41 percent of likely voters support the movement publicly, up from 34 percent in August. 

The uptick comes as lawmakers prepare to debate the fate of Bush-era tax cuts. 

Friday's poll results could potentially make it more difficult for Republicans to support President Obama's plan to continue the tax breaks benefiting the middle-class while allowing the ones for the wealthy to expire on schedule at the end of the year. 

The Tax Policy Center on Friday questioned the effectiveness of the proposal President Obama recently put forward allowing businesses to write off the cost of certain investments. 

The measure gives businesses permission to fully deduct the purchase of things like equipment and software.

Congress has supported very similar measures in the past, often calling it "bonus depreciation." 

The SBE is asking members to contact their senators and urge them to support an amendment by Sen. Mike Johanns (R-Neb.).

A Tax Foundation report released Friday shows that more than one-third of the revenue raised by increasing the top two tax rates would come from business income. 

President Obama has called to end tax cuts for the top rates, claiming it will affect 2 percent to 3 percent of businesses. 

The report states that roughly 39 percent of the $630 billion raised by Obama's plan would come from businesses. 

President Obama on Friday said there is room for discussion with congressional Republicans in extending the Bush-era tax cuts. 

"Certainly, there's going to be room for discussion," he told reporters. 

In a letter to lawmakers, the National Cotton Council joined 25 other state and national agriculture groups in urging Congress to repeal the new rule, beginning in 2012, that requires organizations to report any purchase of at least $600 to the IRS.

A majority of those polled by Gallup agree with President Obama that Bush-era tax cuts for the rich should be phased out.