Word: billing
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...turn out to be a leg up for corporations in the recovery. All that red ink could turn out to be a little-noticed boon for corporate bottom lines. That's because companies are allowed to record a tax credit for current losses in order to lower their tax bill when they return to profitability. (See six year-end tax tips...
...profits faster than normal for a particularly deep recession. The speedy turnaround in corporate profits, which are expected to soar 60% in the fourth quarter, is raising the value of the tax credits because they can be quickly cashed in. What's more, Congress is close to passing a bill that would make it even easier than usual for companies to turn recent losses into immediate cash...
...underestimated. Whenever Congress has tried in the past to strike down the Cuba travel ban - even when a majority of Americans said they wanted to get rid of it - the biggest obstacle has always been the staunch resistance of politically potent Cuban-American voters. But the newest bill, the freedom to travel to Cuba act, introduced this year in both the House and Senate, suddenly has Cuban-American backing - and as a result a decidedly better chance of passing. In a recent statement, Indiana Senator Richard Lugar, a Republican and co-sponsor, called this "a very good time for public...
...After the loosening of restrictions for Cuban Americans by the Obama Administration, it will be increasingly difficult for the government to respect the liberties of one narrow group while restricting them for a broader group." Democratic U.S. Representative William Delahunt of Massachusetts, who introduced the new travel-to-Cuba bill in the House, where it now has 180 co-sponsors, agrees: "Anyone can go to Vietnam, Iran or North Korea," he says. "Travel is in and of itself an American right; it is not about Cuba-U.S. policy." (Watch a video about the politics of young Cuban Americans...
...contrast, the bill's proponents believe it could help thaw U.S.-Cuba relations and in turn improve conditions for an eventual democratic transition in Cuba. The measure is supported not only by the travel industry but by the U.S. Conference of Catholic Bishops, human-rights groups like Human Rights Watch and policy think tanks like Freedom House, the D.C.-based Cuba Study Group and the Brookings Institute. The White House, careful not to alienate Menendez when it needs every Democratic vote on issues like health care reform, has yet to throw its support behind the bill. But despite Obama...