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Legislative Outlook for 2001.(United States congress)
The first half of 2001 has seen increased legislative activity by a new administration and a closely divided House and Senate. With the Senate evenly divided, the Republicans enjoying a slim majority in the House (220-210-2-3 [as of 4/15/01]), and a Republican White House, the dynamics in Washington are interesting, to say the least.
This could be one of the most active legislative sessions Washington has seen in the past few years.
The next few weeks and months will bring greater attention to the details of the Bush budget, wrangling from the Senate regarding the exact size and structure of the tax cuts, discussions for creating a commission on the future of Social Security and Medicare, and a promise from Democrats to move forward with some of their initiatives.
Budget
The President delivered his FY 2002 budget as a blueprint in late February, and the detailed documents were released in mid-April. The budget resolution--a non-binding outline for the annual budgeting process--passed the House and Senate prior to the dissemination of the detailed budget. It sets forth the guidelines for the subcommittees writing appropriation bills in the House and Senate, allowing them to move ahead with appropriations bills. It also allows for the House Ways and Means and Senate Finance Committees to propose legislation for tax cuts or tax increases.
The resolution passed in the House calls for $1.6 trillion in tax cuts, while the Senate version calls for $1.18 billion. Both allow for an approximate 4 percent increase in discretionary spending.
Tax Issues
- Sales tax not bringing in the projected bucks.
- Magazine article from: Business First of Buffalo Thomas, G. Scott August 5, 1991 700+ words
Sales tax not bringing in the projected bucks Budget...play it safe. Both counties had seen sales tax revenues grow rapidly as the economy...registered a 14.3 percent increase in sales tax receipts in 1989, followed by a 7 percent...
- Sales tax on car dealers: CBR clarification.
- News wire article from: Asia Africa Intelligence Wire October 2, 2005 700+ words
...Revenue (CBR) on Saturday clarified that sales tax has not been imposed at the rate of 15...commission amount, if any, is liable to sales tax at the rate of 15 percent, while 90...of their sale price would not attract sales tax. Some quarters have given a wrong impression...
- Sales tax appears to narrowly pass.
- Newspaper article from: The Post and Courier (Charleston, SC) November 6, 2002 700+ words
...to have narrowly passed a half-cent sales tax increase Tuesday that would secure the...176 of 176 precincts reporting, the sales tax squeaked by, receiving 50.3 percent...Riley Jr., a staunch supporter of the sales tax. "This is so important to our community...
- Sales tax compliance and audit selection.
- Magazine article from: National Tax Journal Murray, Matthew N. December 1, 1995 700+ words
INTRODUCTION The general sales tax remains the single-most important...1993.(1) Noncompliance with the sales tax is not thought to be as serious a...Due (1975), who estimated the sales tax gap to be on the order of 5 percent...
- Sales tax payment: procedure for ship breakers made easy.
- Magazine article from: Business Recorder July 2, 2006 700+ words
...the special procedure for the payment of sales tax by the ship breakers. The CBR on Saturday...industry. According to the procedure, sales tax paid at import stage shall be the amount of sales tax paid as per the Goods Declaration (GD...
- State sales tax compliance for the construction industry.
- Magazine article from: Business Credit Whitelock, Jay April 1, 1995 700+ words
...unique way of administering and collecting sales tax with which we must conform. In addition...responsible for, or adversely affected by, sales tax law or its administration with contractors...surprise to see that the emphasis of sales tax administration has been compounded as...
- General Sales Tax on services: centre may seek provinces'' assent for...
- Magazine article from: Business Recorder April 2, 2009 700+ words
...governments to hammer out an agreement on general sales tax (GST) on services, which at present is...government is not legally empowered to levy sales tax on services. Through Provincial Sales Tax Ordinances, the provinces have authorised...
- Average Combined Sales Tax Rate Reaches Record Level; Study Shows That Overall...
- Press release article from: PR Newswire February 22, 2005 700+ words
...Feb. 22 /PRNewswire/ -- The 2004 Sales Tax Rate Report released by Vertex Inc...technology solutions, shows the average sales tax rate in 2004 reached a record high of...four- year upward trend in the average sales tax rate that began in 1999 when the average...
- Sales Tax Vote Sought in Lawrence, Kan.
- Newspaper article from: Knight Ridder/Tribune Business News October 28, 2003 700+ words
...skepticism about chances of voters approving a sales tax for education, the Lawrence school board...Lawrence board's vice president, said a sales tax was necessary because it would provide...would develop a list of possible uses for sales-tax revenue. --Request the Douglas County...
- State sales tax on professional services. (Washington Comment) (column)
- Magazine article from: The National Public Accountant Sager, William H. September 1, 1991 700+ words
...accountant are affected more by a sales tax on professional services than the...businesses are unable to provide many in-house services and must rely on outside...Nevertheless, the large CPA firm finds the sales tax on its professional services just...
Source: HighBeam Research, Legislative Outlook for 2001.(United States congress)