Update: 3:30 p.m.:
The House Chamber;
A vote is being taken on or with that which started at 2:10 p.m;
Across the wires around 3:30 p.m : the WH has added extending the Stimulus Tax cuts of the Recovery Act &
adding a limited to one full year-the unemployment benefits;
for:
reaching an accord with GOP & any others to extend all Bush Tax Cuts;
However, WH spokesperson explains that:
the extended unemployment benefits will put $$$ into pockets of those who will spend them.
The extension of the Bush Tax Cuts will only put money into the richest folks
[many of whom produce / make the jobs--MY observation not the WH]
To this time; the Vote in the House is: Yea;;222 Nay 181 NV 31 Time remaining 5:20
This is already decreed to be DOA in the Senate
Through for the day for me
Friday will prove interesting I think.
Today is another important-in the scheme of things--day on the Hill;
Topic:
The latest news on the Deficit Commission Vote, with the additions of two GOP members has reached 9 of the needed 14 votes. [the total member count is 18]
The announcement is that 'the' vote will take place tomorrow on Friday.
Topic:
The debate & vote is scheduled for today in the House on the extension or partial extension of the Bush Tax Cuts;
Topic:
Also on it's 'things to do Today' list the Chamber is focused on the House Decision on Rep. Charles Rangel with strong division within the House.
Topic:
The congress is also considering the "dire consequences if the unemployment benefits are NOT extended"
[W.H. economic advisor statement] ;
...all very important to all of us;
...some items could and should have been covered before the last 16 days of this Congress.
Our Congress is very, very busy these days;
How much of this National Business will take place these days is any one's guesstimate;
How much should have been handled earlier is moot;
How said Votes will affect us will be seen in time--some as soon as in Jan.2011.
Topic:
However you personally will be impacted will depend on your present status -business-wise;
++If you are on unemployment and hoping for an additional 99 weeks of such--one question--how and who pays;
++If you are in a small business where you have employees;
you pay taxes as a Personal tax;
make $250,000 or more;
you could possibley find yourself in a position of having to re-file or file twice for 2010.
If the tax cuts are not extended your tax bill may need to be adjusted.
Earlier a Business / Tax person mentioned a meet with your accountant on a 'pay before Dec. 31';
YOU know your business status;
After consultation with accountant can see if or how you may benefit with an early-tax payment.
Topic:
Should the unemployment benefit be extended. then those states with the highest count will need to find ways to make the payments;
On this very point, our Governor Elect has gone on record stating that the state's waiver expires on Dec.31st; without this waiver Michigan--with the lower rate of 12.8 [having been 14.+%] Michigan will owe 150 m in interest.
Meeting in D.C. these last 2 days, Snyder stated " We're unduly burdened because we just happened to be the place struck hardest"
Michigan has borrowed $3.8 B since 2006 --CA owes $8.9 B.
To put this in perspective a total of 30 states and the Virgin Islands have borrowed $43.3 B.
How to continue this?
How to pay for this?
Questions, that answered, will have supporters & attackers--
No Matter What.
High Noon has come and gone;
No information is forth-coming from Congress;
Don't cause a stall for too long Guys & Gals, this IS our future on which you debate.
Moving close to Day 15
A Quote on Government & the Economy:
"The government's view of the economy could be summed up in a few phrases:
...If it mover, Tax it;
...If it keeps moving, regulate it; and
...If it stops moving, subsidize it. "
Ronald Reagan
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