White House: Report of New Tax Cut Proposal 'Not Correct'

The White House described as inaccurate a Washington Post report that it is considering a proposal for a new tax cut that could replace the expiring payroll tax cut."I can tell you that the report is not correct -- the administration is not considering at this time a tax cut as the way that it's described in the Post," White House spokesman Josh Earnest told reporters while traveling with Obama ...

White House Considers New Tax Cut

With the payroll tax cuts set to expire at the end of the year, the Obama administration is eying a another round of economic stimulus via tax cuts, the Washington Post reported on Saturday, citing people familiar with the administration’s thinking.  The Post said the administration wants to offer a cut that could mean hundreds of dollars a year more in workers’ paychecks. One option under ...

Gov’t OK’d Sin Tax Cut

The lowering of potential tax yield in the House of Representatives version of the “sin tax” bill had the “blessing” of the Department of Finance, Lower House records show. Undersecretary Jeremias Paul and Bureau of Internal Revenue (BIR) Commissioner Kim Henares did not make any attempt to stop the House Ways and Means Committee from amending the original version of House Bill 5727 which sought ...