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Sunday, January 6, 2008

Take advantage of more tax cuts that are underway

Take advantage of more tax cuts that are underwayThat's the word from the White House.

Yep, Dubya apparently wants to take one more shot at tax cuts before he has to vacate 1600 Pennsylvania Avenue.

A presidential spokesman said this afternoon that Dubya will meet with Treasury Secretary Henry Paulson and Federal Reserve Chairman Ben S. Bernanke to examine whether he should propose an economic stimulus package to jumpstart the economy.

Afterwards, the prez, flanked by members of his Working Group on Financial Markets, plans to meet with reporters.

Don't expect any big announcements, though. The White House is juggling political expectations (and fears) in this presidential election year, along with the harsh realities of just how much can be done in light of budgetary concerns.

And, of course, he doesn't want to spoil the surprise of what he'll say in the annual State of the Union Address on Jan. 28.

Tons of tax talk: But that hasn't stopped the tax cut rumors from swirling.

There is speculation that Dubya could harken back to the early days of his presidency and call for a temporary cut a la the $300 tax rebate issued in 2001.

Or he could put on a concerted push to make permanent at least some of his tax cuts that are set to expire in 2011.

Of course, the fiscal and political realities of 2008 will make both the substance and style of trying to accomplish any tax cuts quite interesting.

You can read more on the possibility of tax cuts in these stories:

New York Times
Washington Post
Business Week

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