Senate – Putnam Wealth Management

Tax breaks win extension by Congress

The Senate voted 76-16 Tuesday to approve a House bill that preserves several dozen tax provisions, known as “tax extenders,” from January 1, 2014 through the end of the year, essentially providing a one-year retroactive extension. The collection of provisions, which includes tax breaks and deductions, was set to expire as of the end of

Taxes

Congress faced with dueling budget proposals

While the House this week approved a budget plan for FY 2014, the Senate continues to debate a starkly different proposal. As the budget process progresses, neither plan is likely to garner bipartisan approval, but the proposals illustrate the differences between the two political parties. Not surprisingly, long-term deficit reduction is a priority in both