Budget Cuts

4:02pm

Fri February 1, 2013
Economy

Pentagon Remains Big Target In Likely Budget Cuts

Originally published on Fri February 1, 2013 5:17 pm

The winding down of the war in Afghanistan and efforts to slice the budget deficit will likely mean more spending cuts for the Pentagon.
AFP/Getty Images

The economy shrunk in the fourth quarter — for the first time in three years — and one of the critical reasons was a drop in defense spending. Apparently, contractors took precautionary steps and held onto money in case the federal government failed to avert the fiscal and tax crisis known as the fiscal cliff.

But there's now a new deadline — automatic budget cuts, known as sequestration, which may hit at the beginning of March.

The Effect On Contractors

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3:36am

Sun January 27, 2013
It's All Politics

The GOP And Taxes: In The States, It Can Get Complicated

Indiana Gov. Mike Pence delivers his State of the State address to a joint session of the Legislature in Indianapolis on Tuesday.
Darron Cummings AP

When Republican Mike Pence replaced Mitch Daniels as governor of Indiana this month, he wasted no time setting out to establish his conservative fiscal bona fides.

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4:22pm

Wed January 9, 2013
It's All Politics

In Talking To Their States, Governors Keep An Eye On Washington

Originally published on Wed January 9, 2013 5:18 pm

Gov. Andrew Cuomo, D-N.Y., walks to the podium Wednesday in Albany to deliver his third State of the State address.
Mike Groll AP

From Superstorm Sandy to gun laws to the fiscal cliff, national issues are on the minds and the lips of the nation's governors setting their state agendas this week.

Some want Congress and President Obama to act; others urged state legislators to do what Congress hasn't.

"No one hunts with an assault rifle. No one needs 10 bullets to kill a deer. End the madness now," an impassioned New York Gov. Andrew Cuomo said Wednesday in calling for the state to enact the "toughest assault weapon ban in the nation, period."

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9:49am

Tue December 11, 2012
It's All Politics

Fiscal Cliff Calendar: What Happens When

Originally published on Tue December 11, 2012 11:39 am

iStockphoto.com

As weary as many Americans grew of campaign commercials last month, they may be getting even more annoyed this month by endless talk of the fiscal cliff, the massive collection of tax increases and spending cuts set to take effect at year's end.

It's easy to understand the urge to stick fingers in ears and loudly chant "la-la-la-la." The budget problems are indeed complicated, and the negotiations tedious.

But resolving the mess is extremely important: Without a solution, every person who gets a paycheck or has investments will see his or her taxes rise.

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3:08pm

Fri August 17, 2012
U.S.

Budgets Tight, States Ask Voters To Raise Taxes

Originally published on Fri August 17, 2012 4:03 pm

California Gov. Jerry Brown, speaking in Sacramento on Wednesday, advocates a ballot initiative that would increase sales and income taxes. Several states have measures on the November ballot that seek to plug deficits by raising taxes.
Rich Pedroncelli AP

Tax increases will join political candidates on the November ballot in several states struggling to plug some big holes in their budgets.

One of the most closely watched measures is in California, where Gov. Jerry Brown has staked his reputation on closing his state's multibillion-dollar budget gap.

On Wednesday in Sacramento, Brown officially kicked off his campaign to get voter approval to raise taxes via the Schools Public Safety Protection Act, also known as Proposition 30.

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