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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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  July 28, 2010, 6:11 pm

Rules Republicans blast Levin for springing jobs bill on them

By Jay Heflin

Republican members of the House Rules Committee on Wednesday criticized Ways and Means Chairman Sandy Levin (D-Mich.) for giving them 90 minutes to review a bill before having to vote on whether it would be subjected to debate on the chamber floor tomorrow.

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Archived under: Domestic Taxes
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  July 28, 2010, 5:06 pm

Rep. Levin unveils bill clamping down on U.S. multinationals

By Jay Heflin

House Ways and Means Chairman Sandy Levin (D-Mich.) on Wednesday introduced legislation aimed at closing several tax breaks used by U.S. multinational companies. 

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Archived under: International Taxes
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  July 28, 2010, 4:37 pm

Hoyer: Tax increases on the wealthy will not hurt the economy

By Jay Heflin

House Majority Leader Steny Hoyer (D-Md.) on Wednesday said the scheduled tax increase on wealthier taxpayers will not harm the economy.

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Archived under: Domestic Taxes
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  July 28, 2010, 4:08 pm

Sen. Alexander: Republican amendment is a priority

By Vicki Needham

The fate of a small-business lending and tax-cut measure could rest on whether Senate Democrats and Republicans agree to consider an amendment that would repeal a portion of the new healthcare law, aiming to reduce required tax filings by small businesses. 

Sen. Lamar Alexander (R-Tenn.), chairman of the Republican Conference, on Wednesday called the amendment a “priority of the Republican leadership.” 

“We’ve made it clear to Sen. Reid that we want a vote on it,” Alexander told reporters this afternoon. “We need a vote on this before the August recess, it’s that important.”

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Archived under: Domestic Taxes
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  July 28, 2010, 3:02 pm

International tax increases to come before the House by Friday

By Jay Heflin

House Majority Leader Steny Hoyer (D-Md.) on Wednesday said legislation by Ways and Means Chairman Sandy Levin (D-Mich.) that increases taxes on U.S. multinational firms will hit the floor by the end of the week. 

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Archived under: International Taxes
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  July 28, 2010, 2:41 pm

Pelosi blasts Republican plan to privatize Social Security

By Jay Heflin

At an event celebrating the 75th anniversary of the Social Security Act, Speaker Nancy Pelosi (D-Calif.) blasted Republicans for trying to privatize the fund, saying the change would have resulted in the trust fund incurring a massive loss because of the recent downturn in the stock market.  

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Archived under: Economy
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