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It appears the opportunity for a general tax extenders bill has expired for 2013. With a contentious election year approaching, the nation will likely wait until 2015 before Congress takes up the issue — after the 2014 elections. This is truly unfortunate given that almost 60 tax provisions expire on December 31, 2013. Here’s the entire list, published by the Joint Committee on Taxation. The Work Opportunity Tax Credit (WOTC) is one of the expiring provisions. (more…)
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The National Journal reported yesterday:
Legislators on Thursday unveiled a bicameral, bipartisan proposal to repeal and replace the sustainable growth rate formula, which determines Medicare payments for physicians. One expert called it “above and beyond” anything else he’s ever seen.
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California Governor Jerry Brown signed legislation in July that repealed the state’s Enterprise Zone program (and all of the state’s other Economic Development Areas (EDA) programs). Additional “clarifying” legislation was signed in September, outlining an orderly demise for the programs. (more…)
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It is true that more important issues are currently before Congress. Nevertheless, our fiscal problems are leading Congress and the White House to an eventual sit-down meeting to hash out their very difficult differences. When that happens, current scenarios suggest WOTC will be included in that discussion. (more…)
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