Many House Republicans say they want to balance the federal budget in 10 years by cutting spending only. And they seem to have received a promise from newly-elected House Speaker Kevin McCarthy (R-CA) to bring such a plan to the floor for a vote sometime this year. I can’t wait to see what it looks
Taxes
The circular economy envisages a shift away from the linear “take-make-dispose” model to a system where products and materials are reused in new cycles. While we are beginning to see a focus on greater resource utilisation and waste reduction, only 8.6% of all materials extracted and used make it back into our economy. A transition
Key Takeaways The US government is expected to hit the debt ceiling next Thursday, meaning that Congress must approve a raising of the $31.4 trillion limit. Treasury Secretary Janet Yellen has written to House Speaker Kevin McCarthy, saying that failure to raise the ceiling could cause “irreparable damage to the US economy.” In the past,
Last month, for the first time in two decades, the IRS took a critical look at plaintiff lawyer fee deferrals. In its December, 2022, Generic Legal Advice Memorandum (the “GLAM”), the IRS considered and rejected a hypothetical deferral with a particularly bad set of facts (the “Aggressive Deferral”). While such aggressive facts are uncommon, the
Today’s Social Security column addresses questions about how accurate SSA’s benefit rate estimates actually can be, the timing of benefit payments each month and taking spousal benefits after retirement benefits. Larry Kotlikoff is a Professor of Economics at Boston University and the founder and president of Economic Security Planning, Inc. See more Ask Larry answers