- First Glance – Czinger 1250 Horsepower 21C Hypercar
- U.S. Sales in 2020 – SUVs Will Govern a Down Market?
- Grand Touring? Bentley Mulliner Bacalar to Debut at Geneva
- Ford Rear Toe-Links Fracture from Driving
- Data Retrieval Via a Universal Onboard Diagnostic Adapter
- Silverado, Sierra Software Recalled for Botched Older Recall
- Kroger Camaro On Pole for Daytona 500
- Ford Motor Changes Top Exec Roles Again
- Midwest Automotive Media Pick 2020 Kia Telluride and Lincoln Aviator as Family and Luxury Vehicles of the Year
- Carryover 2020 Nissan Frontier Has Next Gen Engine and Trans
- Oscar Winner Regina King in New Cadillac ‘Make Your Way’ Ad
- Chicago Auto Show to Open Its 112th Edition
- 2020 Ford GT More Power, Special Edition Trim at $750k
- General Motors Posts Huge Q4 Strike Losses and a Weak 2019
- First Look – 2021 Cadillac Escalade
News from PR Newswire
Tag Archives: budget deficit.
The U.S. Department of Transportation’s National Highway Traffic Safety Administration – NHTSA – has published a consumer safety advisory to warn vehicle owners and repair shops about the dangers of counterfeit Chinese air bags. NHTSA said it has become “aware” of a problem involving the sale of counterfeit air bags for use as replacement parts in vehicles that have been involved in a crash. Continue reading
The politically contentious American Recovery and Reinvestment Act contained billions upon billions in taxpayer funding to businesses though a number of Recovery Act and related programs, including loans, loan guarantees, grants, contracts and tax incentives, in partnership with the Department of Treasury. In total, CBO estimates that the legislation will increase budget deficits by about $831 billion over the 2009–2019 period. Continue reading
New Jersey Stiffs U.S. Taxpayers over $271 Million Grant. Republicans, Democrats Collude on Cancelled ARC Tunnel
Well, it sounds like LaHood (an Illinois Republican appointed by Obama) had no choice. Defenders of the deal, and there are some, say that DOT maneuvered to get N.J. taxpayers some benefit from the cancelled transit investment. In their view this solves the standoff over reimbursement — interest and penalties were accruing daily that New Jersey taxpayers would have been responsible for — and maybe New Jersey residents will also get the benefit of improved transit in the state. We will see. There sure is enough political manure here in my view to help New Jersey remain the garden state… Continue reading
House and Senate Finally Agree Not to Close FAA but Fail to Address Taxes for Aviation and Bankrupt Highway Trust Fund
Last night the U.S. Senate went along with the House of Representatives and agreed not to shut down the FAA because its authority to impose excise taxes on airline tickets had expired. It was the 22nd extension of existing taxes … Continue reading
These are businesses without paid employees but nonetheless are firms paying income taxes needed to balance the budget. Real estate agents, beauticians and construction contractors are examples of non-employer businesses. Overall, U.S. non-employer businesses generated approximately $837.8 billion in receipts during 2009. Continue reading
Since two-thirds of the economy of the United States is based on consumer spending, no wonder corporations are reluctant to hire. There is just too much uncertainty in the economy, too much uncertainty in Washington. We could be heading for another recession while politicians dicker. Continue reading
This means that more than 14 million Americans are unemployed, with at least another 10 million underemployed. The average length unemployment is now the highest on record. The Administration and its cabinet appointees as well as Republicans were quick to attempt damage control. Continue reading
EPA Finalizes E15 Gasohol Pump Labels as Automakers Again Protest Adding More Ethanol to Gasoline. Lawsuits Pending
The ethanol tariff is comprised of a 54 cent Most Favored Nation duty and a 2.5% ad valorem tax. Critics say the ethanol tariff makes our nation more dependent on foreign oil by increasing the price of imported ethanol. Iowa State University estimates that a one-year extension of the ethanol subsidy and tariff would lead to only 427 additional direct domestic jobs at a cost of almost $6 billion, or roughly $14 million of taxpayer money per job.
The politics of ethanol, virtually all of it corn derived and therefore benefiting big money farm lobby interests, are as tangled as it gets. Taxpayers would be better off if legislators were required to wear NASCAR-style uniforms with the patches of the organizations that are their major, err, sponsors, to put it politely in pay to play Washington where campaign contributions from special interests determine policy not national interests. Continue reading
CAR Says Electric Vehicles Will Follow the Incentives at the Federal, State and Local Levels. Budget Battles Loom?
Executive summary – taxpayer money on the hood moves the sheet metal, but auto company press release predictions are dubious. Continue reading
DOT Releases Long Delayed Toyota Unintended Acceleration Report, Exonerates Self, Claiming It Was Right All Along
The self conducted NHTSA study if it found problems, of course, would make DOT – with a staggering $79 billion budget vulnerable to Congressional dictated reforms, as well as budget and staff cuts as the deficit debate heats up on Capital Hill. Continue reading