GOP warns Obama against executive action to raise taxes
By Susan Ferrechio | March 18, 2015 | 12:58 pm
The top lawmakers on the House and Senate tax writing panels warned the Obama administration Wednesday to forgo taking executive action on taxes.

In a letter to Treasury Secretary Jack Lew, Senate Finance Committee Chairman Orrin Hatch and House Ways and Means Committee Chairman Paul Ryan called on the president to work with Congress to reform the system. The two Republicans warned that unilateral action on taxes would be "a mistake, both constitutionally and politically."
Hatch, of Utah, and Ryan, of Wisconsin, sent the letter to Lew after the White House signaled Obama is interested in eliminating some tax breaks through executive action, particularly those that benefit large corporations and the wealthy.
"The President has asked his team to examine the array of executive authorities that are available to him to try to make progress on his goal," White House spokesman Josh Earnest said at a press conference earlier this month, adding, "the president is very interested in this avenue generally."
Republicans are hoping to reform at least part of the corporate tax code in the coming year and are relying on cooperation from the White House in order to strike a deal that can become law.
The GOP would like to lower corporate tax rates in a deal that could include ending some tax benefits. Obama has proposed using the revenue expected to flow from ending some tax cuts in order to pay for infrastructure rather than to lower corporate rates.
Ryan and Hatch, both Republicans, warned Obama that acting unilaterally could hurt the economy and thwart any chance of a lasting deal that could be achieved with Congress.
"It would be a significant setback if you decided to interpret or implement tax laws based on your political preference rather than the consensus that the tax reform process could produce," Hatch and Ryan wrote to Lew. "It would also be significantly damaging to the economy to further the idea that, rather than working with stable rules of the road, tax and other laws will hereafter evolve according to the uncertain path of unilateral executive decisions followed by controversy, challenges and mistrust."

GOP warns Obama against executive action to raise taxes
By Susan Ferrechio | March 18, 2015 | 12:58 pm
The top lawmakers on the House and Senate tax writing panels warned the Obama administration Wednesday to forgo taking executive action on taxes.

In a letter to Treasury Secretary Jack Lew, Senate Finance Committee Chairman Orrin Hatch and House Ways and Means Committee Chairman Paul Ryan called on the president to work with Congress to reform the system. The two Republicans warned that unilateral action on taxes would be "a mistake, both constitutionally and politically."
Hatch, of Utah, and Ryan, of Wisconsin, sent the letter to Lew after the White House signaled Obama is interested in eliminating some tax breaks through executive action, particularly those that benefit large corporations and the wealthy.
"The President has asked his team to examine the array of executive authorities that are available to him to try to make progress on his goal," White House spokesman Josh Earnest said at a press conference earlier this month, adding, "the president is very interested in this avenue generally."
Republicans are hoping to reform at least part of the corporate tax code in the coming year and are relying on cooperation from the White House in order to strike a deal that can become law.
The GOP would like to lower corporate tax rates in a deal that could include ending some tax benefits. Obama has proposed using the revenue expected to flow from ending some tax cuts in order to pay for infrastructure rather than to lower corporate rates.
Ryan and Hatch, both Republicans, warned Obama that acting unilaterally could hurt the economy and thwart any chance of a lasting deal that could be achieved with Congress.
"It would be a significant setback if you decided to interpret or implement tax laws based on your political preference rather than the consensus that the tax reform process could produce," Hatch and Ryan wrote to Lew. "It would also be significantly damaging to the economy to further the idea that, rather than working with stable rules of the road, tax and other laws will hereafter evolve according to the uncertain path of unilateral executive decisions followed by controversy, challenges and mistrust."

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The Republicans have forever been working to give the large corporations (industries) tax cuts and benefits. That's how we got into this mess. When will you finally realize, as so many economists, that "trickle down" hasn't worked in at least two decades. Yet they keep on insisting that it does in spite of the proof. I do believe that after the benefits offered to "the people" which cause big business to be forced to pay their share, President Obama's decisions will remain because they work and "the people" will demand his laws remain. In a short time the people will see improved infrastructure and a much more improved economy.

Some were asking for stronger demands from Obama. Now that he's not depending on the Rep. Congress, you're complaining. Why? He'll finally show just how those money grabbing creatures in the GOP really think. Sorry it took him this long but, because the GOP has refused to work with him throughout this administration, he's taking the reins. Hurrah, Obama! :!: :!: :!: