Friday, February 6, 2015

Four Areas for Possible Compromise Between White House and Congress in Obama Budget

As President Barack Obama releases his fiscal 2016 budget, no one is saying that the White House and the Republican-controlled Congress are close to making the kind of deals that defied them in recent years. But the budget offers some proposals that overlap with ideas put forward by Republicans. Below are five areas that offer tantalizing prospects for compromise.
1. Infrastructure
The White House and some Republicans have rallied around the same sources of funding for desperately needed infrastructure upgrades and repairs: taxes on corporate earnings parked overseas.
The White House proposes a 14% mandatory tax on an estimated $2 trillion of earnings and a minimum 19% mandatory tax on future foreign earnings. Republicans prefer a voluntary approach and a lower tax rate. Sen. Rand Paul (R., Ky.) backs giving companies the option of bringing earnings back to the U.S. at a temporary 6.5% tax rate.
A looming deadline could force a deal: a measure shoring up the federal fund that pays for highways and bridges expires at the end of May.
Read the rest of the story HERE and follow a link to a related story below:

Obama Budget Sets Off Push for Deals

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