The American Taxpayer Relief Act of 2012 was passed by the US House this evening and President Obama will sign it. The bill renews a slew of the so-called tax extenders, including the Work Opportunity Tax Credit through 2013. (more…)
This update from Paul Suplizio, President of the WOTC Coalition, offers some additional details about the fiscal cliff bill passed by the Senate late tonight.
Contrary to my earlier observations, Paul states that the bill DOES include VOW to Hire Hero provisions in its extension of the Work Opportunity Tax Credit. Hopefully, I was wrong. I like Paul’s version better.
Paul also makes some important observations about recent Hurricane Sandy relief efforts — including a proposal to expand the WOTC Program with a new Hurricane Sandy target group. (more…)
President Obama’s remarks this morning on his “fiscal cliff” negotiations with House Republicans signals optimism that a deal may be close. Both sides have made concessions but continue to push for additional concession from the other. Near the end of his remarks this morning, the President said,
“I remain optimistic, because if you look at what the speaker has proposed, he’s conceded that income tax rates should go up . . . I’ve said I’m willing to make some cuts. What separates us is probably a few hundred billion dollars. The idea that we would put our economy at risk because you can’t bridge that cap doesn’t make a lot of sense.”
President Obama’s TV interviews scheduled for today may provide fuel for a potential breakthrough in tax and spending talks, according to Paul Suplizio, President of the WOTC Coalition. WOTC and numerous other tax provisions hang in the balance . . . although failure now may still be rectified after the new year. (more…)