Tax Cuts

By Donna Cassata WASHINGTON -- Automatic cuts in federal spending will cost the economy more than 2 million jobs, from defense contracting to border security to education, if Congress fails to resolve the looming budget crisis, according to an analysis released Tuesday. ...

By Jim Kuhnhenn WASHINGTON (AP) -- President Barack Obama is proposing to cut the corporate tax rate from 35 percent to 28 percent and wants an even lower effective rate for manufacturers, a senior administration official says, as the White House lays down an election-year marker in the debate over tax ...

By Joe McDonald BEIJING (AP) -- China announced more help Wednesday for its struggling private business sector, unveiling a $2.5 billion fund to finance new small businesses and promising tax breaks and more lending for entrepreneurs. ...

By Andrew Taylor WASHINGTON -- In its budget submission next month, the Obama administration will urge lawmakers to revisit the failed attempt by a congressional supercommittee to cut the deficit by at least $1.2 trillion, the White House says. The proposal runs counter to the common wisdom in Washington ...

By Alan Fram WASHINGTON (AP) -- With television lights glaring, 20 lawmakers will gather next week to revisit the fight that consumed Congress before Christmas over renewing a Social Security payroll tax cut and unemployment benefits. ...

By Andrew Taylor WASHINGTON (AP) -- With the Senate adjourned for the holidays, House Republicans are moving to shelve a bipartisan two-month extension of the Social Security payroll tax cut that cleared the Senate over the weekend and are demanding instead that their fellow lawmakers return to the Capitol ...

By Julie Pace WASHINGTON (AP) -- Targeting Republicans in Congress and on the presidential campaign trail, President Barack Obama is heading to New Hampshire, a political battleground, to begin a year-end push to extend payroll tax cuts. During a speech Tuesday at a Manchester high school, the president ...

By BEN FELLER WASHINGTON (AP) -- Seeking a jolt for a wilting economy, President Barack Obama will give a major speech in early September to unveil new ideas for speeding up job growth and helping the struggling poor and middle class, a senior administration official told The Associated Press. ...

If you're feeling a bit more flush than you did last month, that's because of the income boost felt nationwide. The average American income rose about 1 percent last month -- the largest leap it's taken in almost two years, according to the United States Department of Commerce. "Personal income surged in ...