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  July 29, 2010, 12:09 pm

Rosen joins firm of former White House communications director

By Kevin Bogardus

Hilary Rosen, former chairwoman and CEO of the Recording Industry Association of America, is joining SKDKnickerbocker, according to a statement put out by the firm Thursday.

Rosen will be a managing director at the firm, where Anita Dunn is a principal. Dunn was part of President Obama’s inner circle during his 2008 campaign and recently served as White House communications director. 

“SKDKnickerbocker is uniquely placed to grow its public affairs practice both in Washington and in New York, and it’s a bonus to work with longtime friends and colleagues,” Rosen said in the statement.

Rosen was previously in charge of the Brunswick Group’s Washington office, a public relations firm. She also was political director of the Huffington Post during the 2008 election.  

Archived under: Personnel Notes
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  July 29, 2010, 12:01 pm

NAM opposes bill that increases international taxes

By Jay Heflin

The National Association of Manufacturers on Thursday urged House members to oppose legislation that increases taxes on U.S. multinational companies and is expected to be voted on later Thursday. 

Ironically, the bill — the Investing in American Jobs and Closing Tax loopholes Act of 2010 — was introduced as part of Democrats’ “Make it in America” agenda, a strategy that seeks to bolster the country’s manufacturing sector. 

But Dorothy Coleman, NAM’s Vice President of Tax and Domestic Economic Policy, said the bill would do her industry more harm than good. 

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Archived under: International Taxes
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  July 29, 2010, 11:53 am

Financial, business groups call on Obama to keep low capital gains and dividends taxes

By Silla Brush

A group of some of the country’s largest financial, technology and manufacturing interests warned President Obama on Wednesday that higher taxes on capital gains and dividends would cost thousands of jobs, “stifling the recovery.”

The Alliance for Savings and Investment praised the administration for seeking to keep the tax rates low instead of allowing them to revert to much higher rates by next year. If Congress does not act, capital gains rates would rise from 15 percent to 20 percent for most filers, and dividends rates would be taxed at the marginal income rate, or as high as 39.6 percent.

The alliance — including the U.S. Chamber of Commerce, Verizon, Altria, UPS and others — wants to cap the tax rates at 15 percent for dividends and capital gains.

“An extension of these rates would provide much needed certainty to businesses, families and retirees who now face the threat of a looming tax increase during this time of continued economic and market uncertainty,” the group wrote in a letter to the president.

Archived under: Domestic Taxes
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  July 29, 2010, 11:20 am

Report shows 8.6 percent drop in stock market if Bush tax cuts expire

By Jay Heflin


The scheduled tax increase on capital gains and dividends at the end of the year will cause an 8.6 percent drop in the Standard & Poor’s 500 Index, according to a report by Barclays Capital.


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Archived under: Domestic Taxes
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  July 29, 2010, 11:07 am

Claims for unemployment benefits drop last week

By Vicki Needham

New claims for unemployment benefits fell last week, signaling an easing of layoffs but still reflecting a weak job market. 

First-time claims dropped by 11,000 to a seasonally adjusted 457,000, as the economy continues its slow recovery, the Labor Department said Thursday.

During the past few weeks, claims hit their lowest level since September 2008 as factories remained open during the summer months. 

General Motors and other manufacturers had reported fewer temporary layoffs but those changes have evaporated from the data, according to a Labor Department analyst.

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Archived under: Economy
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  July 29, 2010, 10:45 am

FAA extension set for House passage

By Vicki Needham

Unable to reach agreement on a final bill, the House on Thursday is expected to pass an extension of current Federal Aviation Administration funding. 

The two-month extension, the 14th for the legislation since last full FAA authorization expired in 2007, is on today’s House suspension calendar. 

The Senate is expected to pass the bill within the next few days.

Disagreements over adding long-distance slots at Reagan National Airport and increasing passenger facility charges have held up completion of the bill. 

The extension includes several provisions that have been agreed upon by the House and Senate on safety and pilot training. 

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Archived under: Budget
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  July 29, 2010, 9:08 am

Group seeks to repeal compliance rule for small businesses

By Jay Heflin
The Small Business and Entrepreneurship Council has called on its members to contact their senators and urge them to repeal the mandate requiring small businesses to file 1099 forms to the IRS for purchases over $600.

Archived under: Corporate Governance
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  July 28, 2010, 9:04 pm

House passes first of 12 appropriations bills for 2011 on voice vote

By Walter Alarkon

Republicans joined Democrats to pass on Wednesday the $77.3 billion appropriations bill for military construction and veterans affairs.

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Archived under: Appropriations
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  July 28, 2010, 7:15 pm

Lawmakers hit impasse on small business bill

By Vicki Needham

Senate Democrats and Republicans failed to reach an agreement Wednesday on a small-business lending and tax-cut measure over the number and type of amendments that each side wanted considered. 

The Senate's leaders objected to each other's requests to move forward on the measure tonight. Without an agreement on amendments, there most likely aren't enough votes to end debate on the measure. 

A cloture vote on the substitute amendment to the bill is planned for Thursday morning. 

Senate Majority Leader Harry Reid (D-Nev.) said Republicans had initially asked for only three amendments but upped that number today on the floor. 

"This is the proverbial stall of the year," Reid said. 

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Archived under: Banking/Financial Institutions
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  July 28, 2010, 6:55 pm

Earmark transparency bill gets bipartisan support in Senate committee vote

By Walter Alarkon

A bill that would create a new searchable online database of earmark requests got a bipartisan recommendation from the Senate Homeland Security and Government Affairs Committee on Wednesday.

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Archived under: Appropriations
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