Word: taxed
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...University’s liquidity position has suffered recently due to endowment losses and stress in the debt and swap markets. In December and January, Harvard completed $2.5 billion in bond sales to guarantee cash flexibility and refinance risky variable rate debt.According to the report, disruptions in the tax-exempt variable rate debt markets last fall “increased the perceived risk that Harvard could experience a failed remarketing of its debt.” While no such failure occurred, the disruptions hampered the University’s liquidity position by forcing it to keep cash on hand...
...Health Department says it was looking for a way to reach smoking parents - about 400,000 of New York City's 1 million smokers live with children - when it came across the Australian footage. The little-boy ad launched the same week a new federal cigarette-tax increase went into effect - a double whammy in the fight against smoking. The New York City Health Department has fielded five complaint calls since the ad launched on March 30, a figure Mandel-Ricci says is dwarfed by the number of calls to the city's quitting-smoking line in the same time...
Complaints that the vetting process has gone overboard grew earlier this week, when Kansas Governor Kathleen Sebelius, President Obama's pick for Secretary of Health and Human Services, became the latest nominee to be embarrassed by a public disclosure of problems with her tax returns. In Sebelius' case, the discrepancies were, by all appearances, relatively minor ones, centered mostly on a failure to produce the proper documentation for charitable contributions and business expenses. She agreed to pay an additional $7,918 in taxes and interest, and she looks to be on track to a relatively easy Senate confirmation...
Still, episodes like this are stoking tension between the Administration and the Senate - particularly with the Finance Committee, which has vetted a number of the nominees for whom problems have emerged, including the tax issues that threatened to derail the confirmation of Treasury Secretary Timothy Geithner and forced former Senate majority leader Tom Daschle to withdraw his name from consideration as head of HHS. One source close to the process says the Finance Committee is now giving such scrutiny to the tax records of Administration nominees that, amid the committee's larger concerns, it has questioned items as small...
...atmosphere of tension and mistrust is real - and no longer limited to the Finance panel. In recent weeks, three sources tell TIME, the Senate Committee on Foreign Relations has added a tax-related item to the basic questionnaire it presents to nominees it is vetting, asking them whether they have reviewed their tax returns for the past five years and can verify that they are accurate. And officials say that other panels, such as Homeland Security and the Governmental Affairs Committee, are moving slowly in vetting the nominees that are before...