The president’s deficit panel released its final report today and added details to its original leaked outline for how it suggests the U.S. balance the budget and enact a more stable fiscal policy. Dubbed “The Moment of Truth”, the document adopts some policies from other private deficit commissions and adjusts some of its prior recommendations…. Read more »
Two 1099 repeal amendments were debated yesterday as part of the food safety bill, but both failed under the Senate’s 2/3rds rule for passage. The Johanns amendment (S.Amdt 4702) was a complete repeal with the offset coming from rescinding $39 billion in non-Defense Department discretionary spending, i.e. unused stimulus funds. His amendment failed 61-35, with… Read more »
Two Senate bills to repeal the new 1099 reporting requirements are expected to be voted upon as early as next Monday.
This month, three major panels have released high-profile plans to reduce the federal deficit and balance the budget within the near future. While the press has focused on some of the more high-profile topics like raising taxes or defense spending, the plans, if implemented as written, would have an impact on nonprofits and nonprofit governance:… Read more »
Proposed and interim final rules issued yesterday by the Obama administration will now allow employers to change insurance plans and not lose their grandfathered status so long as they maintain current benefits, according to the Bureau of National Affairs. The rules will be published in Wednesday’s Federal Register. Prior to the new rules, employers could… Read more »