Bush Plan Could Imperil Tax Write-Off for New York
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As the Bush administration looks to revamp the tax code, New York officials say they are particularly worried about one idea being considered: eliminating the federal deduction for state and local taxes.
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New Yorkers pay the highest state and  local taxes in the nation, shelling out nearly $131 for every  $1,000 of income in 2002, according to a new study.
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Four years ago, presidential candidate George W. Bush promised a record tax cut. He delivered income-tax cuts of $270 billion a year - a statistic he loves to cite.
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American public companies are betting billions on tax breaks that may not work out.
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Seven years ago, President Bush rode into town promising tax cuts and rebates. He's heading out the same way.
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The top U.S. congressional tax writer proposed sweeping tax legislation on Thursday that would repeal a tax for the rich that has been hitting more middle-class Americans and replace it with a new tax on high-income earners.
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President George W. Bush's administration is considering an individual tax rebate of up to 800 dollars as a short term measure to help boost the sagging US economy, a media report said Friday.
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Tax experts said Friday they expected President Bush's new tax panel to recommend incremental change to the tax code, not a fundamental replacement.
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Changes to tax code would drastically cut, if not eliminate, taxes on savings and investment.
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New York City residents should earn a record $381 billion this year because the thousands of job cuts on Wall Street will have a delayed impact and 2006 was such a profitable one for the financial sector.
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It must have seemed like just the ticket at the time. But it turns out that choosing New York City as US President George W. Bush&#39;s national stage for re-election at the Republican convention might not have been the best plan.
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New York Mayor Michael Bloomberg said he will compromise with the City Council, which argues the city can afford a bigger property tax cut than his 5 percent reduction because revenues are racing past forecasts.
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New Yorkers pay the highest state and local taxes in the nation, shelling out nearly $131 for every $1,000 of income in 2002, according to a new study.
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His annual 'relief' puts Bush in the pantheon of big tax cutters.
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New York City Mayor Michael Bloomberg on Thursday proposed raising spending in the next fiscal year by 3.7 percent to $58.5 billion, despite falling tax revenues due to Wall Street's sinking profits.
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At their national convention, Republicans were short on specifics on how to pay for an economic agenda in a second Bush administration. One reason is that President Bush could end up having to back a tax increase, just as his father did.
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One month before Election Day, President Bush sought Saturday to make sure Americans know he is signing into law a fourth tax cut in four years. On Monday in Iowa, Bush will sign legislation extending three popular middle-class tax breaks and reviving some expired business tax incentives.