Word: taxingly
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Dates: during 1990-1999
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...last few billion, however, proved the hardest to hide. So on Sept. 29, the House leadership revealed its intention to pay out the Earned Income Tax Credit, a program which rewards the working poor as they work additional hours, on a monthly basis rather than at the start of the year. This means that the payments for October, November, and December of the year 2000 would go on the fiscal year 2001 budget, turning about $9 billion in costs into the next Congress' problem. That means that GOP leaders can claim to have a $400 million surplus without touching Social...
...sense, the proposal's only virtue is its biggest liability: it doesn't reduce the tax credit, but only delays the payment until next year--the problem of being over budget still isn't solved. Regardless of the problems it will cause for next year's budget, the proposal also has the immediate disadvantage of forcing the working poor to wait months for tax refunds that they have earned. The money from the EITC is often used to pay down debts or saved to generate interest, and to the working poor, if not to the government, a delay does mean...
...saddening that the Republicans would look to delay tax credits which support people in the workforce and which have consistently been shown to encourage work rather than welfare. It is more saddening that this move would come at the same time that other money is being spent for wealthier, more powerful constituencies: Senate majority leader Trent Lott is currently attempting to secure $500 million for an extra aircraft carrier to be built in his home state of Mississippi, and Sen. Kay Bailey Hutchison (R-Tex.) has just passed an amendment to save the oil industry $66 million a year...
...said that although she understands the need to preserve Somerville's urban environment, she is also faced with the city's need for more tax revenue...
That message quickly found a receptive audience in Washington. Both the Equal Employment Opportunity Commission and the IRS are investigating cash balances' legality. And last week Representative Bernie Sanders, an independent from Vermont, introduced a bill that would hit companies with tax penalties if they switched to a cash-balance plan without giving all workers the option of staying in the old one. "Millions of Americans are feeling 'pension anxiety' because under current law there is no guarantee that their pension benefits will not be cut tomorrow," says Sanders...