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本帖最后由 ypm968 于 2010-12-6 23:01 编辑
Just heard it on CNBC
update 1: tax cut to all including super riches. Dividend tax cut will also be extended.
update 2: Unemployment benefits will be extended for 13 months
修正
抱歉·！这个新闻不准确. 正确新闻如下。
Obama Agrees to Two-Year Tax Cut Extension, Lower Payroll Taxes
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By Ryan J. Donmoyer and Mike Dorning
Dec. 7 (Bloomberg) -- President Barack Obama said he would agree to sustain Bush-era tax cuts for high-income taxpayers in exchange for extending federal unemployment insurance and cutting the payroll tax by $120 billion for one year.
Obama said he would accept lower rates on high earners’ income, dividends, capital gains and multi million-dollar estates for the next two years to break a stalemate over extending the Bush administration’s tax cuts for middle-class taxpayers before Congress adjourns. The current tax rates, enacted in 2001 and 2003, are set to increase Dec. 31.
Without the compromise, middle-income families would become “collateral damage for political warfare here in Washington,” Obama said in televised remarks yesterday. He said he still believes that the nation can’t afford to permanently extend the reduced top tax rates.
“This compromise is an essential step on the road to recovery,” said Obama, who criticized Republicans for insisting on permanent tax cuts for the wealthiest Americans “regardless of the cost of impact on the deficit.”
Obama spoke in Washington after a White House meeting with Democratic congressional leaders. They and the Republican leadership still have to sell the plan to their caucuses. Obama called it a “framework” for a deal.
In addition to preserving the status quo on Bush policies, the proposal creates more than $300 billion in new tax cuts for wage-earners, wealthy families, and corporations.
Aiding Recovery
Representative Dave Camp of Michigan, who will become chairman of the tax-writing House Ways and Means Committee when Republicans take control of the chamber in January, welcomed Obama’s announcement.
“This framework will allow us to extend all current tax rates, and give economic recovery and job creation a chance,” Camp said in a statement.
Lawrence Mishel, president of the Economic Policy Institute, a Washington group funded in part by labor unions, said Obama extracted some concessions from Republicans that may help the deal advance in Congress.
“Economically, if you were going to do a deal, I think this is better than expected and will provide some help to the economy, but we need a lot more help,” he said. “I think people generally wanted to have a fight to show who was for the rich people and who was for the rest of us. That fight now will take place in the 2012 election.”
Some lawmakers said they would take a stand now.
‘Very Bad Agreement’
“This is a very bad agreement,” Vermont Senator Bernie Sanders, an independent who caucuses with the Democrats, told MSNBC television. Sanders vowed to “do what I can” to block Senate passage.
In a letter to House Speaker Nancy Pelosi of California circulated yesterday, Representative Peter Welch of Vermont and at least five other Democrats urged her not to agree to the administration’s deal.
“We support extending tax cuts in full to 98 percent of American taxpayers, as the president initially proposed,” Welch wrote. “He should not back down. Nor should we.”
Jim Manley, a spokesman for Senate Majority Leader Harry Reid of Nevada, was noncommittal.
“Now that the president has outlined his proposal, Senator Reid plans on discussing it with his caucus tomorrow,” Manley said. Vice President Joe Biden is scheduled to attend the Senate Democratic Caucus lunch.
Mitch McConnell of Kentucky, the Senate Republican leader, said in a statement that he was “cautiously optimistic” that congressional Democrats “will have the same openness to preventing tax hikes that the administration has already shown.”
Unemployment Insurance
If Congress agrees, the deal would leave in place the 10, 15, 25, 28, 33 and 35 percent marginal tax rates created in 2001. It would also preserve for two years the 15 percent tax rate on most capital gains and dividends, and would temporarily index the alternative minimum tax for inflation.
In addition, the plan outlined by Obama would extend aid for the long-term unemployed for an additional 13 months. To help spur hiring, the payroll tax -- which funds Social Security and Medicare -- would be cut by 2 percentage points during 2011.
The payroll tax cut would apply to all wage-earners, an administration official told reporters on a conference call. That would be an $800 savings for individuals with an income of $40,000. Those who earn salaries of more than $106,800 would save a maximum of $2,136. The proposal would cost the government $120 billion, another administration official said.
The unemployment rate rose to a seven-month high of 9.8 percent in November as payroll growth slowed to 39,000 from 172,000, according to the Labor Department.
Estate Tax
The compromise plan would set the estate tax at a top rate of 35 percent, which applies after a $5 million tax-free allowance per individual, two administration officials said on the conference call. That rate would be the lowest since 1931 -- not counting 2010, when the rate was zero and replaced with a complicated capital gains tax that applies when inherited assets are sold.
Lee Farris, who tracks estate tax policy for the liberal advocacy group United for a Fair Economy in Boston, called Obama’s acceptance of the 35 percent rate “inconceivable.”
“A weaker estate tax, coupled with the extension of the Bush tax cuts for the wealthy, is only going to end in the richest 1 percent owning even more of our country’s wealth,” she said.
Equipment-Purchase Deduction
Obama also endorsed allowing a full deduction for equipment purchases that currently must be deducted over time. The proposal would accelerate $200 billion in tax savings for companies in the first year and benefit 1.5 million companies and several million individuals who run businesses, according to White House estimates.
Total revenue lost from the so-called expensing proposal over 10 years would be $30 billion; companies taking the immediate deductions wouldn’t be able to write off their expenses through depreciation in years to come.
The administration officials said some elements of the plan still have to be negotiated by Treasury Secretary Timothy Geithner, Budget Director Jack Lew, Camp and three other lawmakers. They include whether to renew dozens of expired or expiring tax provisions. Among them: The Build America Bond program, the fastest-growing segment of the $2.8 trillion municipal debt market.
The subsidy, which expires Dec. 31, was created by President Barack Obama’s 2009 economic-stimulus plan. More than $173.5 billion of the taxable securities have been sold, according to data compiled by Bloomberg. The U.S. pays 35 percent of the interest costs on the debt. A Senate bill would cut that rate to 32 percent. Republicans may oppose the measure.
To contact the reporters on this story: Ryan J. Donmoyer in Washington at rdonmoyer@bloomberg.net; Mike Dorning in Washington at mdorning@bloomberg.net
To contact the editor responsible for this story: Mark Silva at msilva34@bloomberg.net
Last Updated: December 7, 2010 00:00 EST |
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