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President Barack Obama’s top economic adviser says targeted tax cuts, more exports and greater spending will help reverse a lack of consumer demand that threatens to constrain the economy “now and for the next several years.” Lawrence Summers, in his swan song speech as head of President Barack Obama’s National Economic Council, said the tax… Continue Reading Obama advisor: Tax cut plan will add consumer purchasing

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House Democrats reject tax plan without changes

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House Democrats voted Thursday to reject President Barack Obama’s tax deal with Republicans in its current form, but it was unclear how significantly the package might need to be changed. By voice vote in a closed caucus meeting, Democrats passed a resolution saying the tax package should not come to the House floor for consideration… Continue Reading House Democrats reject tax plan without changes

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A compromise plan to extend tax cuts for all Americans is giving stocks a lift while dragging bond prices lower. U.S. stock futures are headed higher Tuesday after President Barack Obama announced an agreement with Republicans Monday night to extend the Bush-era tax cuts for two years, while also renewing unemployment benefits and granting a… Continue Reading Stocks set to pop after Obama, GOP agree on taxes

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Democrats meet with Obama over tax cuts deal

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President Barack Obama called Democratic leaders to the White House Monday in hopes of advancing a year-end bipartisan compromise to extend expiring tax cuts for all Americans and renew jobless benefits for the long-term unemployed. Some Democrats have complained that the White House was surrendering too much to the Republicans by agreeing to include the… Continue Reading Democrats meet with Obama over tax cuts deal

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Obama, Hill leaders meet: taxes, treaty on tap

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House and Senate leaders from both parties sat down Tuesday for their first postelection meeting with President Barack Obama in an atmosphere charged with tension over taxes and a new nuclear arms treaty with Russia. Republicans set the tone for the session early, declaring steadfast opposition to any tax increases when the current Bush era… Continue Reading Obama, Hill leaders meet: taxes, treaty on tap

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Small business caught in tax battle

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Newly empowered Republicans say President Barack Obama would subject as much as half the nation’s small-business income to job-withering tax increases. Obama and his Democratic allies argue that allowing taxes to rise on the wealthiest Americans would affect only a handful of small business owners. Both can’t be right. And both are playing number games… Continue Reading Small business caught in tax battle

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CFO survey: Weak job market to continue in region

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More than 8 in 10 Chief Financial Officers believe the U.S. economy will not recover until the second half of 2011, if not later, according to a survey of more than 500 CFO’s conducted by Grant Thornton International. Just 24 percent of those surveyed said they plan to hire over the next six months, with… Continue Reading CFO survey: Weak job market to continue in region

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Supporters of three tax measures on the Colorado ballot say state and local governments could close libraries and put their books on line and sell off light rail to cut spending if the measures pass. Gregory Golyansky (go-lee-AN-ski), vice president of the Colorado Union of Taxpayers, said Friday that printed books are going away and… Continue Reading Prop. 101 backers: shut libraries, sell light rail

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House Dems deeply divided over Obama tax cut plan

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Congressional Democrats are confronting deep divisions in their nervous ranks over whether to support President Barack Obama’s plan to raise taxes on the wealthiest Americans – or just punt the entire matter until after voters go to the polls Nov. 2. Democratic leaders committed to Obama’s proposal were to hear Wednesday from endangered lawmakers who… Continue Reading House Dems deeply divided over Obama tax cut plan

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Attending a family wedding in Albuquerque over Labor Day weekend, I was again struck by the transformation of that once-grim city into an economic and cultural powerhouse, dominating northern New Mexico and southern Colorado. Santa Fe gets the ink, the tourists, the international reputation, and a few B-level movie stars. Albuquerque gets the diversified business… Continue Reading Taxophobia got us here, we know where it will take us

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