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A tax cut that began last month gave consumers the biggest jump in their incomes in nearly two years. But Americans boosted their spending only slightly, a sign that many people are being cautious with their money even as the economy improves. Consumers increased spending 0.2 percent in January, the smallest gain since June, the… Continue Reading Tax cut boosts incomes, spending sees small gain

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Coke, Pepsi and other soft drinks could get a bit cheaper in Colorado under a Republican proposal to repeal sales taxes on soda. Coloradans began paying a 2.9 percent sales taxes on sodas last year, when lawmakers looking for ways to raise money and confront obesity imposed a levy soft drinks and candy. Before, the… Continue Reading Republicans: Cut Colo. soda tax

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Obama budget resurrects rejected tax increases

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President Barack Obama’s budget proposal resurrects a series of tax increases that were largely ignored by Congress when Democrats controlled both chambers. Republicans, who now control the House, are signaling they will be even less receptive. The plan unveiled Monday includes tax increases for oil, gas and coal producers, investment managers and U.S.-based multinational corporations.… Continue Reading Obama budget resurrects rejected tax increases

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Giving tourism industry the respect it deserves

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We’re all just getting to know Doug Price, the new chief of the Convention and Visitors Bureau, but I’ve discovered something about him that should resonate with many: Several years ago, while still living and working in Washington, D.C., Price was in the Springs on a business trip and, as he tells it, was walking… Continue Reading Giving tourism industry the respect it deserves

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Obama: cut corporate taxes, close loopholes

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President Barack Obama’s call to lower corporate tax rates is popular among business leaders and lawmakers from both parties. That support, however, won’t be easy to maintain if the president ever gets specific about how to pay for the lower taxes. Obama said in his State of the Union address that he wants to close… Continue Reading Obama: cut corporate taxes, close loopholes

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Tax cuts raise expectations for economy in 2011

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Expectations for economic growth next year are turning more optimistic now that Americans will have a little more cash in their pockets. A cut in workers’ Social Security taxes and rising consumer spending have led economists to predict a strong start for 2011. Still, most people won’t feel much better until employers ramp up hiring… Continue Reading Tax cuts raise expectations for economy in 2011

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Senate acts; Keeping tax rates intact up to House

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The Senate overwhelmingly passed a sweeping tax package today that would save millions of Americans thousands of dollars in higher taxes while also reducing their Social Security taxes and extending jobless benefits. The $858 billion package now goes to the House, where many Democrats are unhappy with a provision that allows estates as large as… Continue Reading Senate acts; Keeping tax rates intact up to House

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Senate to vote on Bush tax cuts

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Senate to vote on package extending Bush tax cutsPresident Barack Obama’s compromise tax deal with Republicans – a package of cuts that would add nearly a trillion dollars to the U.S. debt – was headed for Senate approval Wednesday. The measure, which still faces stiff opposition in the House of Representatives as overgenerous to the… Continue Reading Senate to vote on Bush tax cuts

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Colo. senators split on extending tax cuts

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Colorado’s senators have split on extending tax cuts, with Mark Udall voting “no” and Michael Bennet supporting them. The Senate overwhelmingly backed the bill in a test vote Monday. The measure is expected to face a tougher time in the House, where Democrats oppose tax breaks for the wealthy. Udall says he supports extending tax… Continue Reading Colo. senators split on extending tax cuts

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US tax bill hits 60 in Senate vote

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Legislation to avert a Jan. 1 increase in U.S. income tax rates has gained 60 votes in the Senate, the level needed to advance toward a final vote. The roll call is continuing, and the test vote is not final. But the bipartisan show of support is a strong indication the measure will be passed… Continue Reading US tax bill hits 60 in Senate vote

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