Today in let's-make-asinine-statements-in-regards-to-tax-policy-news, Arkansas Governor Mike Beebe recently told a large crowd that, “[a]nyone standing in the way of [the wind] industry, frankly, they’re unAmerican.” Right. Because anyone that opposes federal tax dollars being redistributed into the hands of specific corporations and industries are clearly communists. [The Cabin via David Brunori]
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Is This the Beginning of the End for Ethanol Tax Credits?
Key Senate lawmakers have reached a deal to end two ethanol subsidies by the end of the month, sooner than expected and a sign of how tax policy can change as attention focuses on the deficit.
Sen. Dianne Feinstein (D, Calif.) said in a statement that she had reached an agreement with Sens. Amy Klobuchar (D, Minn.) and John Thune (R, S.D.) under which a 45-cent-a-gallon tax credit for blending ethanol into gasoline would expire on July 31. A 54-cent-a-gallon tax on imported ethanol would also expire at the end of the month. [WSJ]
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Bill That Would Fire Federal Employees for Unpaid Taxes Wouldn’t Apply to Lots of Federal Employees That Have Unpaid Taxes
Senators Tom Coburn (R-OK) and Claire McCaskill (D-MO) have introduced a bill that would take care of all the federal employees who have ‘seriously delinquent tax debts.’ Quite simply, they would be fired:
In 2009, the IRS found that nearly 100,000 civilian federal employees were delinquent on their federal income taxes, owing over $1 billion in unpaid taxes. When retirees and military are included in the total, more than 282,000 federal employees owed $3.3 billion in taxes.
The Senate bill would require all federal employees to be current on their federal income taxes or be fired from their jobs. According to Coburn’s office, “this is a commonsense bill that most Americans would believe is reasonable, necessary, and likely surprised that it is not already the standard throughout the federal government.”
So if the 182,000 people that owe approximately $2.3 billion aren’t eligible to be fired, how exactly is this bill ‘commonsense’? Oh, right! By threatening the 100,000 people who owe $1 billion with the loss of their jobs. Got it!
Senate Bill Would Fire Federal Employees with Unpaid Taxes [AT]