Taxes
More on Taxes
In the aftermath of the Supreme Court’s decision to uphold most of the President’s health care law, Nebraskans deserve to know what the decision means and what steps Congress will take to repeal the law in full to lower health care costs while increasing access to care.
The looming expiration of critical tax provisions on January 1, 2013 is part of what many analysts are calling the “fiscal cliff.” Others have dubbed this economic doomsday scenario “Taxmageddon.” Recently, the nonpartisan Congressional Budget Office (CBO) found failing to prevent scheduled tax increases at the end of the year likely would contribute to a recession in early 2013.
Later this month, the Supreme Court is expected to rule on the constitutionality of President Obama’s health care law, formally known as the Patient Protection and Affordable Care Act. Make no mistake, this will be a landmark decision with profound implications for the future of our country.
Washington, DC –Congressman Adrian Smith (R-NE) today participated in a Ways and Means Committee hearing which examined tax fraud. The hearing also focused on whether the Internal Revenue Service (IRS) and the Social Security Administration (SSA) are doing enough to protect Social Security numbers to prevent and detect false returns.
Washington, DC – Congressman Adrian Smith (R-NE) released the following statement on Tax Day:
While pranks are common on such a day, it was no joke when on April 1st the United States’ 35 percent corporate tax rate became the highest in the world. Our current system is a relic of the Post-War era, when the U.S. reigned as the unchallenged industrial leader, and government efficiently regulated the market.
America’s looming debt crisis is the most predictable – and avoidable – economic calamity in our nation’s history. Make no mistake: empty promises from both political parties have gotten us where we are today. This explosion of debt is threatening to cripple our nation and rob our children and grandchildren of their future.
Washington, DC – Congressman Adrian Smith (R-NE) released the following statement on President Obama’s corporate tax reform proposal:
This past week President Obama delivered his State of the Union address to a joint session of Congress. Traditionally this speech has been a chance for the President to outline his agenda for the coming year. After more than three years of economic hardship, this was the time to chart a new path forward to put our nation back on a sounder fiscal and economic footing.