Politics

Obama’s Tax Cuts Target Parents, Families with 2 Incomes

Published

10 years ago

February 3, 2015

President Barack Obama delivers remarks at the Department of Homeland Security on his FY2016 budget proposal, on Monday, Feb. 2, 2015, in Washington. Obama warned congressional Republicans Monday that he won’t accept a spending plan that boosts national security at the expense of domestic programs for the middle class. (AP Photo/Evan Vucci)

STEPHEN OHLEMACHER, Associated Press

WASHINGTON (AP) — President Barack Obama is proposing nearly $280 billion in tax cuts for low- and middle-income families, but not everyone will benefit.

Obama’s proposed budget calls for a total of $1.5 trillion in new taxes over the next decade, mostly on corporations and high-income households. He would use much of that money to pay for targeted tax breaks for low- and middle-income families.

The proposed tax cuts would benefit households with two wage earners, families with young children in child care and those with older children in college. One proposal would automatically enroll workers in individual retirement accounts, unless they opt out. Another would extend the Earned Income Tax Credit to low-wage workers without children.

Obama calls his tax and spending plan “middle-class economics.” But middle-income families that don’t fit these categories won’t see many changes in their taxes, according to an analysis by the Tax Policy Center, a research group formed by the Urban Institute and the Brookings Institution.

For families making between $50,000 and $75,000 a year, about a quarter of them would get a tax cut, averaging $545, according to the analysis. About 6 percent would get a tax increase, and the rest — about 70 percent — would see no change in their tax bill.

Among the bottom 20 percent — families with incomes averaging $15,600 — nearly a third would get tax cuts averaging $617. The rest would see little or no change in their taxes.

“The key thing is that, overall, there will be winners, losers and a lot of people unaffected,” said Roberton Williams, a fellow at the Tax Policy Center.

The center’s analysis focused on the effects of the two-earner tax credit, the child-care credit, the expanded education credit, the tax credit for low-wage workers and the program making it easier for workers to enroll in retirement accounts, Williams said. The analysis also took into account Obama’s proposal to increase taxes on some investments and estates.

All of these proposals were part of Obama’s larger budget plan, which he unveiled Monday.

Obama would pay for middle-class tax cuts by raising taxes on the wealthy — including increasing the tax on capital gains — and changing the way the U.S. taxes the foreign profits of American corporations. Obama’s proposals are designed to further talks on Capitol Hill about revamping American business taxes, lowering the overall tax rate while eliminating or reducing many tax breaks.

Obama’s proposed tax increases, however, are running into strong opposition from Republicans in Congress.

“I want to work with this administration, and I hope that we can find common ground,” said Rep. Paul Ryan, R-Wis., chairman of the tax-writing House Ways and Means Committee. “But the president has to demonstrate that he’s interested in governing, not just posturing.”

Obama’s proposed tax cuts are getting a friendlier welcome — House Speaker John Boehner, R-Ohio, said he is open to Obama’s plan to increase a tax credit to help pay for childcare expenses. But Boehner has been critical of Obama’s overall plan.

The Obama administration says its proposal addresses decades of rising income and wealth inequality, and a tax system that “lets the wealthy shelter hundreds of billions of dollars from taxes each year.”

“The president’s budget proposes targeted policies to strengthen the middle class, level the playing field for American businesses, create more fairness in our tax code, and lay the groundwork for long-term economic growth for our country that is broadly shared, all while setting a course to put our country on sound fiscal footing,” Treasury Secretary Jacob Lew said in a statement.

Among Obama’s proposed tax cuts for middle- and low-income families:

— Create a tax credit of up to $500 for families with a second wage-earner, which the administration says would benefit 24 million couples. Cost: $89 billion over 10 years.

— Triple the child care tax credit — to a maximum of $3,000 per child — and make the full credit available to families with incomes up to $120,000. Families with higher incomes could get a reduced credit. Cost: $50 billion over 10 years.

Obama’s plan would repeal tax breaks for flexible spending accounts for child-care expenses.

— Extend the Earned Income Tax Credit to low-wage workers with no children. Cost: $60 billion over 10 years.

— Consolidate several education tax breaks into an enhanced tax credit of up to $2,500 a student to help pay for college expenses. The tax credit, which is scheduled to expire at the end of 2017, would be made permanent. Cost: $31 billion over 10 years.

Obama initially proposed to scale back the tax benefits of college savings accounts, known as 529 accounts. But he dropped the proposal after getting resistance from both Republicans and Democrats in Congress.

___

Follow Stephen Ohlemacher on Twitter: http://twitter.com/stephenatap

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‘Donald Trump Is Not a God:’ Rep. Bennie Thompson Blasts Trump’s Call to Jail Him

“Donald Trump is not a god,” U.S. Rep. Bennie Thompson, D-Miss., told The Grio during a recent interview, reacting to Trump’s unsupported claims that the congressman, along with other committee members like vice chair and former Republican Rep. Liz Cheney, destroyed evidence throughout the investigation.

Published

5 hours ago

December 18, 2024

Oakland Post

Congressman Bennie Thompson, D-Miss. Courtesy photo.

By Post Staff

U.S. Rep. Bennie Thompson, D-Miss., said he not intimidated by President-elect Donald Trump, who, during an interview on “Meet the Press,” called for the congressman to be jailed for his role as chairman of the special congressional committee investigating Trump’s role in the Jan. 6, 2021, mob attack on the U.S. Capitol.

“Donald Trump is not a god,” Thompson told The Grio during a recent interview, reacting to Trump’s unsupported claims that the congressman, along with other committee members like vice chair and former Republican Rep. Liz Cheney, destroyed evidence throughout the investigation.

“He can’t prove it, nor has there been any other proof offered, which tells me that he really doesn’t know what he’s talking about,” said the 76-year-old lawmaker, who maintained that he and the bipartisan Jan. 6 Select Committee – which referred Trump for criminal prosecution – were exercising their constitutional and legislative duties.

“When someone disagrees with you, that doesn’t make it illegal; that doesn’t even make it wrong,” Thompson said, “The greatness of this country is that everyone can have their own opinion about any subject, and so for an incoming president who disagrees with the work of Congress to say ‘because I disagree, I want them jailed,’ is absolutely unbelievable.”

When asked by The Grio if he is concerned about his physical safety amid continued public ridicule from Trump, whose supporters have already proven to be violent, Thompson said, “I think every member of Congress here has to have some degree of concern, because you just never know.”

This story is based on a report from The Grio.

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City of Oakland Celebrates Reopening of Main Library

“Libraries are such critical facilities for all Oaklanders, whether it’s children coming to story-time, adults reading the newspapers or borrowing the latest novels, and people engaging with a range of services and programs that the library hosts,” said Council President and District 2 Councilmember Nikki Fortunato Bas. “Such library services and programs are only possible when the facility’s electricity, heating, roof, and lighting are fixed and running efficiently. I’m proud to join this re-opening of our Main Public Library.”

Published

6 hours ago

December 18, 2024

Oakland Post

Left to Right- Jamie Turbak, Director of Library Services, LaTonda Simmons, Assistant City Administrator, Nikki Bas, President Oakland City Council, Shen Thao, Mayor of Oakland, Carroll Fife, Oakland City Councilmember District 3, Harold Duffey, Assistant City Administrator, Sean Maher, Projects Coordinator. Photo by Kevin Hicks.

The branch had been closed since May for critical infrastructure upgrades

Special to the Post

The City of Oakland leadership and community partners gathered to celebrate the reopening of the Main Library after completion of critical infrastructure upgrades to enhance the library’s facilities and provide a better experience for patrons.

Renovations include new roof installation, skylight repair, critical electrical system upgrades, new boiler control system installation, auditorium heating and cooling system installation, and improvements to lighting, flooring and ceilings throughout the building.

“This is truly something to celebrate, the reopening of our wonderful Main Library! I congratulate the staff and our partners for this important project to make the Main Library a more comfortable place for everyone for years to come, said Oakland Mayor Sheng Thao. “Thank you to Oakland voters and the California State Library for making these crucial improvements possible.”

“Public libraries are a wonderful resource for our residents, offering a safe space for learning and being,” said District 3 Councilmember Carroll Fife. “It is critical to improve and modernize our libraries so more members of our community can utilize and enjoy them. I’m excited that the necessary renovations to the Main Library have been completed successfully and thank everyone involved, particularly the City team, who helped secured the necessary grant funds for this work.”

“I am proud of the City staff and project partners who kept this important project on schedule and under budget,” said Assistant City Administrator G. Harold Duffey. “The library is an incredibly important resource for our community members, and this project is an investment into the library’s future.”

“December 2nd was a momentous occasion for Oakland Public Library as we proudly reopened the doors of the Main Library following extensive infrastructure repairs,” said Director of Library Services Jamie Turbak. “Closing the Main Library for six months was no easy decision, as it serves as the central hub for our library system and is truly the heart of Oakland. Yet, this renovation was essential, representing more than just physical upgrades—it reflects our ongoing commitment to creating a safe, welcoming space for everyone.”

The City Administrator Jestin Johnson also attended the press conference and signalled his support for the completion of the record-setting completion of the renovations. Gay Plair Cobb, a newly appointed Library Commissioner said the Library represents the soul and brains of our community.

The Oakland Public Library secured funding for these crititcal repairs through a variety of sources. The California State Library’s Building Forward Library Facilities Improvement Program awarded the Main Branch $4.2 million. To comply with the grant terms, the City of Oakland provided matching funds through Measures KK, as approved by the Oakland City Council in October 2023.

The Main Library will host an Open House to celebrate the reopening on February 22, 2025, 10 a.m. – 5:00 p.m.

About the Oakland Public Library

The Oakland Public Library is a part of the City of Oakland in California and has been in existence since 1878. Locations include 16 neighborhood branches, a Main Library, a Second Start Adult Literacy Program, the Oakland Tool Lending Library, and the African American Museum and Library at Oakland (AAMLO). The Oakland Public Library empowers all people to explore, connect, and grow. Oaklandlibrary.org

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Biden’s Legacy Secured with Record-Setting Black Judicial Appointments

His record surpasses previous efforts by his predecessors. President Jimmy Carter appointed 37 Black judges, including seven Black women. In stark contrast, Donald Trump’s first term resulted in only two Black women appointed out of 234 lifetime judicial nominations. The White House said Biden’s efforts show a broader commitment to racial equity and justice.

Published

6 hours ago

December 18, 2024

Oakland Post

iStockphoto.

By Stacy M. Brown
WI Senior Writer

President Joe Biden’s commitment to diversifying the federal judiciary has culminated in a historic achievement: appointing 40 Black women to lifetime judgeships, the most of any president in U.S. history.

Biden has appointed 62 Black judges, cementing his presidency as one focused on promoting equity and representation on the federal bench.

The White House said Biden’s efforts show a broader commitment to racial equity and justice.

Meanwhile, Trump has vowed to dismantle key civil rights protections, including the Justice Department’s Civil Rights Division.

“Having the Black woman’s experience on the federal bench is extremely important because there is a different kind of voice that can come from the Black female from the bench,” Delores Jones-Brown, professor emeritus at John Jay College of Criminal Justice, told reporters.

Lena Zwarensteyn of the Leadership Conference on Civil and Human Rights told reporters that these district court judges are often the first and sometimes the final arbiters in cases affecting healthcare access, education equity, fair hiring practices, and voting rights.

“Those decisions are often the very final decisions because very few cases actually get heard by the U.S. Supreme Court,” Zwarensteyn explained.

Biden’s nomination of Justice Ketanji Brown Jackson to the Supreme Court further reflects his commitment to judicial diversity. Jackson became the first Black woman to serve on the nation’s highest court.

Patrick McNeil, spokesperson for the Leadership Conference, pointed out that over half of Biden’s Black female judicial appointees have backgrounds as civil rights attorneys and public defenders, experience advocates consider essential for a balanced judiciary.

Meanwhile, Congress remains divided over the expansion of federal judgeships. Legislation to add 66 new judgeships—approved unanimously by the Senate in August—stalled in the GOP-controlled House until after the election. House Republicans proposed distributing the new judgeships over the next decade, giving three administrations a say in appointments. President Biden, however, signaled he would veto the bill if it reached his desk.

Rep. Jerry Nadler, D-N.Y., argued the delay was a strategic move to benefit Trump’s potential return to office. “Donald Trump has made clear that he intends to expand the power of the presidency and giving him 25 new judges to appoint gives him one more tool at his disposal,” Nadler said.