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Views: Cut waste, fraud and abuse

Source: The Hill By Jeff Cook-McCormac If there is a lesson to be learned from the 2014 midterm elections, it is that Americans are frustrated with the status quo. Voters did not cast their ballots in favor of one political party or the other. Instead, they went to...

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Thune Sends Letter to IRS Defending Family Businesses

Thune Sends Letter to IRS Defending Family Businesses

Over the past several months, PATG has been tracking speculation from inside and outside Washington that the IRS may issue proposed regulations aimed at curbing the availability of valuation discounts for interests in closely-held entities. As you know, such a change...

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News: FOX News reports on EAD Poll

Frank Luntz - an Each American Dream survey found that 78% of Americans now say that working hard and doing the right thing isn't enough to get ahead. Responders point to politicians, corruption, and debt as sources. See the video ...

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Views: Sen. Jim DeMint on Income Inequality

Economic inequality has become the left's great hope for recovering its political integrity after the Obamacare disaster. President Obama, trying to change the subject, has latched onto the issue and is sure to make many more speeches about it in the New Year. New...

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News: Forbes – What is a Wealthy Tax Payer’s Fair Share?

Beginning early in his re-election campaign, President Obama began voicing his belief that our broken tax system and mounting deficit could be fixed — in part, at least – by asking the nation’s wealthiest taxpayer’s to pay their “fair share” of federal income tax. By...

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Views: Arthur Brooks on the Value of ‘Earned Success’

I learned to appreciate the American free enterprise system by quitting a job in Spain. At age 19, I dropped out of school to pursue a career as a French horn player. After a few twists and turns, I wound up in the Barcelona Symphony, which was a Spanish government...

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Election Results Create New Dynamic for Fiscal Cliff Talks

Election Results Create New Dynamic for Fiscal Cliff Talks

With the November 6 elections in the rear view, thoughts turn to the lame duck session and the coming 113th Congress. Observers inside the beltway continue to work to interpret the election results and determine how they will shape the near- and long-term prospects...

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Tax Talk Heats Up in Election

Tax Talk Heats Up in Election

With just a little more than 2 weeks left until election day, the candidates are angling on tax policy and lawmakers are beginning to lay the groundwork for the lame duck session. Here’s the latest from Washington and the campaign trail: Romney and Repeal – On October...

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House Prepares for Action Affecting Estate Taxes

House Prepares for Action Affecting Estate Taxes

On August 1, it was another busy day in Washington as Congress aimed to finish business (for now) on key items, including House consideration of an extension of current income, capital gains, dividend and estate tax parameters. House Action Today – The House was...

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House Passes Tax Extension Package

House Passes Tax Extension Package

August 1 was a significant day in the ongoing congressional battle over tax policy. Levin Amendment – During consideration of the Republicans’ one-year tax extension bill, Congressman Sander Levin (D-MI) offered an amendment to replace the measure with the...

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Estate Tax Action on the Senate Floor

Estate Tax Action on the Senate Floor

On July 25, intense activity in tax policy debate returned, and estate tax relief is back in the center of attention. Floor Action Today – As we reported on July 19, Senate Democrats have removed the estate tax provisions from their one-year tax extender measure,...

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Senate Completes Tax Votes for Now

Senate Completes Tax Votes for Now

The Senate Republican proposal, which would have extended current rates for all taxpayers and preserved the 35/5 estate tax parameters, was defeated by a vote of 45-54. 44 of 47 Republicans and Democratic Senator Mark Pryor (D-AR) supported the amendment. 52 of 53...

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Congress Seeks Offset for Payroll Tax Relief

Congress Seeks Offset for Payroll Tax Relief

Leaders of both parties are preparing outlines of legislation to extend or provide additional payroll tax relief, neither of which are expected to impact estate, gift and generation-skipping transfer (GST) taxes. Policy and Taxation Group is paying close attention to...

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