Skip to main content

Tax Agreement Reached

President Obama announced yesterday a compromise "framework" to resolve the year-end standoff over the extension of Bush era tax cuts, unemployment benefits and other issues. House and Senate members will meet today to discuss the plan and a timetable for action.

The compromise is reported to include the following:

* Reinstate and extend the estate tax at a 35 percent rate and an exemption level of $5 million for two years

* Cut Social Security payroll taxes from 6.2 to 4.2 percent for one year

* Extend the 2001 and 2003 Bush tax cuts for all income levels for two years

* Extend emergency unemployment benefits for 13 months

* Allow businesses to write off the full cost of capital investments for one year

* Extend through 2011 the alternative minimum tax (AMT) patch (to prevent millions from having to pay the AMT)

* Extend some of the Obama economic stimulus law proposals

To see the President's remarks go to :

http://www.whitehouse.gov/the-press-office/2010/12/06/statement-president-tax-cuts-and-unemployment-benefits

Comments

Post a Comment

Popular posts from this blog

Clifton B. Kruse, Jr., Leading Elder Law Attorney, Dies at 74

Clifton B. Kruse , Jr., a revered elder law attorney who was admired as much for his kindness and generosity to fellow practitioners as for his grasp of the law, died December 30, 2008, in Colorado Springs, Colorado. He was 74. The cause was complications from Alzheimer's disease. For many in the field, Kruse set the standard for all that an elder law attorney can and should be. One of elder law's founding fathers, he combined a gentlemanly charm, warmth and caring with one of the sharpest and most ethical of legal minds. Wrote Arizona elder law attorney Robert Fleming in a tribute , "In my third of a century of elder law practice I have never met another lawyer who managed to pull together sophistication, heartfelt empathy, intellectual rigor and courtly manner in the same fashion Clifton Kruse projected. He did it, to all appearances, effortlessly. He was a friend and mentor to many in the elder law community (I count myself among those legions)." Kruse was the e...
1 comment
Read more

Knee Surgery OK for Octogenarians

Knee replacement surgery can improve the quality of life even for very elderly patients, according to a study presented at the 2009 Annual Meeting of the American Academy of Orthopaedic Surgeons (AAOS) . The study found that patients in their 80s can benefit both physically and socially from knee replacement surgery, also called total knee arthroplasty (TKA), once thought too risky for the very elderly. “As patients are living longer, there is an upward trend in the demand for quality of life among the elderly population,” said Edsel Arandia, M.D., lead author of the study and an orthopaedic surgeon at Philippine Orthopaedic Center and a Fellow at Singapore General Hospital. “As patients age, debilitating diseases like arthritis of the knee begin to develop. We conducted this study to determine the viability of TKA in octogenarians and to learn whether their quality of life improves after TKA.” Dr. Arandia and his team reviewed data from 128 patients older than 80 years of age wh...
Post a Comment
Read more

Dennis G. Browning Obituary

Dennis G. Browning , 59, of Tyngsboro, MA, passed away on March 19, 2012 at the Haverhill Hospice House after a courageous battle with cancer. He was the beloved husband of the late Michele L. (Orme) Browning. Born in Waltham, MA, January 3, 1959, a son of Charles L. and Herta M. (Kreuzer) Browning of Tyngsboro. He received his early education in Greece, and was a graduate of Tyngsboro High School with the Class of 1972. For many years, Mr. Browning progressed in a distinguished career as a technical lead at Centronics of Hudson, NH, before working as a landscaper, and most recently, as the property manager at his place of residence. He was also an assistant at the Adamsky Law Offices where he provided various services including Witness to Will signings. He was highly respected for his incredible work ethic. Dennis was a longtime, active member of the Tyngsboro Sportsmen's Club where he spent most of his time ensuring the club, its members, and especially the trout pond, were a...
Post a Comment
Read more