Due to an editing error, a previous version of this article incorrectly characterized the IRS’s statements. A tax-preparation software glitch caused more than 600,000 returns to be filed incorrectly, delaying refunds by as much as six weeks, the IRS says.
Senate Democrats called Wednesday for raising taxes by almost $1 trillion over a decade and reducing federal spending by the same amount, aiming to shrink but not erase the budget deficit. The Democrats' budget blueprint contrasted sharply with the House Republicans' alternative, which had no new tax increases and aims to balance the budget in 10 years.
Are the rich paying their fair share? It’s a question that has come up as President Barack Obama and House Republicans begin to haggle over the budget.
It’s a word that former Detroit Mayor Kwame Kilpatrick heard 24 times today. A former political star, Kilpatrick became the the youngest person elected to mayor of Detroit in 2001; he was 31 years old at the time.
HOUSE BUDGET Committee Chairman Paul Ryan’s 10-year blueprint for federal taxes and spending is at least as much about politics as about policy. By promising to balance the federal budget by 2023 without raising taxes, the Wisconsin Republican seeks both to mollify members of the House Republican majority who are still steamed at the $600 billion 10-year tax hike included in the “fiscal cliff” deal three months ago and to provide them with strong talking points for voters back home.