Muni tax break under threat from bipartisan scrutiny in congress

WASHINGTON (Reuters) - The tax break that U.S. states, cities and counties get on the bonds they issue is in growing jeopardy now that Republicans, in addition to Democrats, are considering limits on the exemption.As part of the "fiscal cliff" negotiations to raise more federal government tax revenue, Republican lawmakers have joined Democrats in reevaluating the costly tax break, said Republican...

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Boehner plan would bring top U.S. income tax rate to 39.6 percent: source

WASHINGTON (Reuters) - House of Representatives Speaker John Boehner's latest "fiscal cliff" proposal to President Barack Obama would see the top income tax rates rise to 39.6 percent from 35 percent for those with net incomes above $1 million a year, according to a source familiar with the talks.The source, who asked not to be identified, emphasized that the income tax rate increase would be in...

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House Republicans eye limited fiscal cliff bill

WASHINGTON (Reuters) - With time running short before a Dec. 31 deadline, House of Representatives Speaker John Boehner will begin work on legislation that simply would extend current low income tax rates for all families with incomes below $1 million a year, according to an aide.Negotiations will continue with the White House on a broader tax and spending deal, the Boehner aide said.Boehner is presenting...

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Senator Reid rejects Boehner "fiscal cliff" backup plan

WASHINGTON (Reuters) - House Speaker John Boehner's backup plan that would simply extend low income tax rates for households with incomes below $1 million a year "cannot pass both houses of Congress," Senate Majority Leader Harry Reid said on Tuesday.Reid, a Democrat, said Boehner instead should focus on reaching a broad deficit-reduction deal with President Barack Obama. "Now is the time to show...

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White House defends offer as 'good faith effort'

WASHINGTON (AP) — The White House is defending President Barack Obama's proposal to set a higher threshold for tax increases than what he vowed to do during his presidential campaign. The White House says Obama has moved halfway to meet House Speaker John Boehner on a "fiscal cliff" deal that raises $1.2 trillion in tax revenue, down from the $1.6 trillion Obama had initially requested.White House...

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The fiscal cliff: Calculate how much it will cost you

There's still no deal to prevent the double-whammy of harsh tax hikes and spending cuts kicking in on Jan. 1. Who will feel the most pain if we take the plunge?After several days of apparent progress, negotiations on a deal to avoid the fiscal cliff stalled on Wednesday. House Speaker John Boehner, the lead negotiator for Republicans, is vowing to hold a vote on his own plan to raise taxes on people...

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Why more NFL teams should start rookie QBs

Why more NFL teams should start rookie QBsAndrew Luck, Robert Griffin III, and Russell Wilson are on the verge of making playoff historyIf the NFL playoffs started today, a record three rookie quarterbacks would be leading their teams into the postseason. With two weeks left to play, Indianapolis' Andrew Luck, Washington's Robert Griffin III, and Seattle's Russell Wilson all have their teams roaring...

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Gun Violence -- Let's Shift the Odds in Favor of the Good Guys!

The unimaginable horror of Sandy Hook jumpstarts another "national conversation" about firearm violence. President Barack Obama, promising "meaningful action," said: "We will have to change. ... We can't tolerate this anymore. These tragedies must end."Let's examine four of the "commonsense" measures frequently proposed by "gun control advocates":One, closing the "gun show loophole." What gun show...

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Why are flags flown at half-staff in times of mourning?

Flying a flag at half-mast has become a well-recognized symbol of national grieving, but where did this tradition originate?How did the tradition of flying the flag at half-staff get started?It's tough to say, but the oldest commonly accepted reference to a half-staff flag dates back to 1612, when the captain of the British ship Heart's Ease died on a journey to Canada. When the ship returned to London,...

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The Newtown school massacre and America's gun obsession: By the numbers

The tragedy set off a surge in support for new gun control laws... and a buying frenzy in gun storesIn the wake of the Sandy Hook Elementary School shootings, in which 20 children and six adults were killed, President Obama is vowing to make gun control a priority in his second term. He promised to set up a task force and send Congress proposals on new restrictions in January, setting in motion what...

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