Pelosi Touts Tax Cuts

By Justine Rellosa- Talk Radio News Service

On Thursday, House Speaker Nancy Pelosi (D-Calif.) addressed how the Recovery Act influenced 2010 Tax Day outcomes.

"It is important to note on this day that 36 percent of the Recovery Act went to tax cuts. Tax cuts for the middle-class, tax cuts for small businesses tax cuts for green energy jobs for the future," commented Pelosi. "Refunds are up 10 percent, averaging about $3,000 [per] tax payer and 98 percent of Americans will receive a tax cut for 2009."

The Speaker said the third quarter report given by President Barack Obama yesterday estimates that the Recovery Bill saved or created up to 2.5 million jobs. However, she says Democrats are waiting for more legislation to open up more jobs for Americans.

"There are many indicators of turnaround in our economy, but still, many people do not have jobs so our focus was on the legislation ... for further job creation," she said.

Pelosi echoed the sentiments expressed recently by Bruce Bartlett, a former Reagan Policy Advisor, on tax reductions under Obama.

"Federal taxes are considerably lower, by every measure, since Obama became President," she said.

IRS Chief Emphasizes Commitment To Helping Small Businesses

By Justine Rellosa
Talk Radio News Service

On the eve of Tax Day, IRS Commissioner Douglas Shulman assured members of the House Committee on Small Business that his agency is working to lower the need for tax enforcement nationwide by helping educate individuals and business on compliance issues.

"The IRS's actions reflect our commitment to service, one of the IRS's most important goals as it goes about its mission of administering and enforcing the nation's tax laws," said Shulman.

He explained that the IRS has been moving swiftly during the past 15 months to implement new tax law provisions that are meant to help small businesses prosper.

"The Hiring Incentives to Restore Employment (HIRE) Act, which was signed into law last month, gives small businesses an important incentive to start hiring again and we're working to implement that quickly...We've already begun to mobilize and let small businesses know the new tax credit that's available to them to help buy health insurance for their employees," explained Shulman.

Under the HIRE Act, employers who hire unemployed individuals can qualify for a 6.2 percent payroll tax incentive and claim an additional general business tax credit.

Shulman said that the credit will particularly benefit small businesses and non-profits that employ low and moderate income workers.

Congress Must Reauthorize Elementary And Secondary Education Act, Says Schools Chief

By Justine Rellosa
Talk Radio News Service

Department of Education Secretary Arne Duncan stressed the importance of reauthorizing the Elementary and Secondary Education Act (ESEA) during a hearing Wednesday before a Senate Appropriations subcommittee.

"We want to create a fair system of accountability that instead of stigmatizing schools and educators, rewards them for [their] excellence. We want to focus on growth and gain rather than absolute test scores," said Duncan. "Rather than dictating one size fits all solutions, we want to give states and districts more flexibility to improve in the vast majority of schools."

According to a statement released by the Department of Education, the Act "would ask states to adopt college-and career-ready standards and reward schools for producing dramatic gains in student achievement."

During his appearance on Capitol Hill, Duncan also touted the American Recovery and Reinvestment Act's (ARRA) impact on aiding his department.

"The Recovery Act dollars given to the Department of Education helped save an estimated 400,000 jobs at the state and local levels," he said.

Leahy Asks Republicans To Give Eventual Supreme Court Nominee A Swift Confirmation

By Justine Rellosa- Talk Radio News Service

Sen. Patrick Leahy (D-Vt.), who chairs the Judiciary Committee, urged his Republican colleagues Tuesday to give President Barack Obama's eventual nominee to replace retiring Supreme Court Justice John Paul Stevens a speedy and congenial confirmation.

"The Senate and the Judiciary Committee are preparing to consider President Obama's nominee to succeed Justice Stevens, and I hope the pattern of delay and obstruction, [which] has been so evident in this Congress, will not affect the Commitee's fair and prompt consideration of the president's nominee," said Leahy during a press briefing.

Sen. Charles Schumer (D-N.Y.), who appeared alongside Leahy, expressed his disappointment that other key judicial nominees whose confirmations have been stalled.

"The delay is perplexing because most of these nominees are non-controversial and it's no accident that so little controversy surrounds them because President Obama selects judges who are clearly in the mainstream," Schumer said.

Stevens, who announced his retirement Friday, will leave the Court this summer. His decision gives Obama the chance to appoint his second Supreme Court Justice. In 2009, Obama appointed Justice Sonia Sotomayor.

Health Care Reform Will Lower Deficit, Says Orszag

By Justine Rellosa-Talk Radio News Service

Peter Orszag, the Director of the White House Office of Management and Budget, reiterated the Obama administration's claim Thursday that the health care refrom law will ultimately lower the U.S. deficit.

"The bill, according to the official scoring, leads not only to a deficit reduction over the first decade, but a growing deficit reduction into the second decade,” explained Orszag Thursday during remarks before The Economic Club in Washington, D.C.

Orszag noted that the recently signed health care legislation embodies every serious idea that’s been thus proposed regarding economic reform.