Word: taxed
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Ideas aimed at kick-starting this process include giving everyone who buys a house a tax credit worth 10% of the purchase price and driving down mortgage rates--perhaps to as low as 4%. They're an effort to push fence sitters off their perch and give a head start to folks who are finding that tighter lending standards mean they can't borrow as much as they might once have...
...some ways, proposals to stimulate the housing market aren't really aimed at bringing in new buyers. Extending tax credits to people selling one home to buy another and letting homeowners use cheap mortgages to refinance won't get rid of excess housing inventory. These policies are meant to do something else: stimulate the economy by delivering money to homeowners. "We could tell everyone you can get a credit card at a rate of 6%, and that would put money in people's pockets too," says Dean Baker, a co-director of the Center for Economic and Policy Research. Call...
...next few years as the state prepares to dip into its savings to cover a shortfall of approximately $1.65 billion this year and up to $3 billion next year. In Montana, which earned big bucks last year from its natural resources, education is funded primarily through property taxes, and many fear that the closing of mines and aluminum plants could trigger a mass exodus and redistribute the tax base. "It doesn't look good," says Eric Feaver, who heads the MEA-MFT, a union of teachers and state employees. "People around here are starting to ask themselves what will happen...
...looks for a side staircase where she can sneak away from the klieg lights. Though they typically work in tandem for their state, they do so in very different ways, just as they have on the stimulus negotiations. Snowe, a senior member of the Finance Committee, worked on the tax provisions; Collins, recently named to the Appropriations Committee, focused on spending. Collins, who voted for the George W. Bush tax cuts, is a half-turn more conservative than senior Senator Snowe, who did not. Both women are accomplished fund-raisers - and widely popular at home...
...layoffs last month. "Just today, the CEO of Caterpillar said that if this American Recovery and Reinvestment Plan is passed, his company would be able to rehire some of the employees they've been forced to lay off," Obama said. "It's also a plan that will provide immediate tax relief to families and businesses, while investing in priorities like health care, education, energy and infrastructure that will grow our economy once more...