On the Tax Bill, Regulations and the Like

By December 15, 2010Regulations, Taxation

NAM’s policy perspicatators are quoted in the news today about goings on at the White House and Congrss.

NPR, “Obama Seeks Common Ground With Business Leaders:

[Polls] show the overall tax-cut deal is popular. It extends Bush-era tax cuts for everyone, including the wealthy, and provides a one-year reduction in the payroll tax that workers contribute to Social Security. That payroll tax cut, along with an extension of unemployment benefits, will put an extra $160 billion into people’s pockets over the next year. Assuming that money doesn’t all stay in their pockets, more consumer spending could result.

That would be welcome news to Dorothy Coleman, vice president of the National Association of Manufacturers.

“Everyone would like demand to increase,” she said. “That would be a sign of economic growth. So some of the provisions in there, the lower tax rates, are going to help consumer demand.”

Portfolio.com, “Tax-Cut Deal Headed for a Vote

Changing the estate tax provision could jeopardize Republican support for the bill, however, since the lower estate tax rate was part of the deal they negotiated with Obama. Most business groups contend that high estate rates and low exemptions hurt family-owned businesses.

The estate tax is “a huge issue” for many manufacturers, said Dorothy Coleman, vice president of tax policy for the National Association of Manufacturers.

Bloomberg, “Obama Meeting CEOs Today Shows Business President Who Delivers Their Gains“:

Within the past week, the administration announced delays in new rules to regulate industrial boilers and ozone. That showed a willingness to listen to business complaints that new regulations could impose unnecessary costs, according to the National Association of Manufacturers.

“We’re hopeful these are signs that there is going to be a newly invigorated growth agenda,” said Aric Newhouse, senior vice president for government relations at the Washington-based group.

Might the President reinforce that point about regulatory restraint today? Might he?

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