The Obama administration delivered its annual budget plan quickly stirring debate on the matter. Some Republicans criticized the budget for failing to meet the President's own deficit reduction goal by failing to reduce spending, imposing taxes and expanding tax expenditures. The Center on Budget and Policy Priorities supports the budget citing the budgets plan to let tax cuts expire, reducing tax subsidies and offsetting some tax relief measures including the alternative minimum tax. President Obama's budget raises IRS funding to $13.28 billion from $12.15 billion in 2010. That's in direct contrast to a cut of over $600 million included in House Republicans continuing resolution funding of the IRS.
See "The 2012 Budget" found at http://www.whitehouse.gov/blog/2011/02/14/2012-budget.
Posted by James G. Haskell, Senior Associate Editor, Wealth Strategies Journal.
See "The 2012 Budget" found at http://www.whitehouse.gov/blog/2011/02/14/2012-budget.
Posted by James G. Haskell, Senior Associate Editor, Wealth Strategies Journal.
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