Word: permitting
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Dates: during 2000-2009
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...incentives and extensions of credits already in the tax code. The National Automobile Dealers Association has made the incentives a top lobbying priority; new legislation has already been introduced in Congress. One proposal supported by Democratic Sen. Barbara Mikulski of Maryland and Republican Sen. Kit Bond of Missouri would permit new car buyers to deduct auto loan interest and sales tax on their personal income taxes. "We think temporarily making interest deductible on car loans would spur sales," says NADA economist Paul Taylor. The NADA is also supporting "cash for clunkers" initiatives, which encourage consumers to upgrade their older cars...
...than in Washington, DC. Over the decades Cubans acquired better access to nutrition, curative and preventive health care free of charge, schooling to obtain the information needed to lead healthier lives, options for physical exercise in state-supported athletics and sports, and all under conditions of sufficient equality to permit a broad universal advance. It was the best of times in many ways...
...intruded. Jimmy Carter failed to close the deficit through higher taxes in the late 1970s. And Ronald Reagan made tax cuts the down payment on every election since. George W. Bush, of course, imitated Reagan in cutting taxes, thereby creating huge new budget deficits. Voters are still willing to permit the government to expand its share of GDP, particularly in the face of national crises - and we are certainly in the middle of one. Tax revenues jumped from just 5% of GDP in 1936 to 15% to 20% during and after World War II, creating our modern tax system...
...when President Bush announced that Chrysler, along with GM, would receive $13.4 billion of emergency loans from the Troubled Asset Relief Program (TARP) after Congress had refused to pass a separate bailout bill. On Christmas Eve Cerberus got another last-minute gift when the Federal Reserve Board voted to permit GMAC to change its status to a bank holding company. (GM still owns 49% of GMAC). (See pictures of the remains of Detroit...
...plan will move $13.4 billion in funds from the Troubled Asset Relief Program (TARP) to GM and Chrysler, with GM getting $9.4 billion and Chrysler $4 billion. The money will be in the form of three-year loans, but the terms permit the Obama Administration to demand earlier repayment - presumably triggering bankruptcy - if it believes the restructuring goals are not being met. The near-term target is a March 31 deadline for the automakers to show a plan for achieving long-term viability. Based on White House and Treasury descriptions of the plan, this will be less an acid test...