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Obama Budget

Obama Budget Would Hike Tax Revenue, Cut Deficits

 President  Barack Obama 's fiscal 2015 budget request would boost U.S. tax revenues by nearly $1.4 trillion over 10 years if fully enacted, slashing deficits by $1.05 trillion while funding new spending, the  Congressional Budget Office  said on Thursday.There is virtually no chance that  Congress  will advance Obama's plan in its entirety. But the CBO's latest analysis will feed campaign messaging by both Democrats and Republicans ahead of congressional elections in November.The analysis compares Obama's request to a new "baseline" estimate that CBO released last week that assumes no changes to current tax and spending laws.But Obama's budget plan is loaded with new policy changes, including an assumption that sweeping immigration reforms are enacted, producing a net 10-year deficit reduction of $158 billion.It proposes to boost revenues by limiting tax breaks for wealthy Americans and businesses, imposing a new tax on millionaires, raising tobacco taxes, and restoring estate and gif...

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  1. Will Obama's budget fly with Congress?

    Sen. Barrasso critical of president's spending policies

  2. Ukrainian soldiers confront Russian forces at airbase

    Tense moment caught on tape

  3. White House cautious over uncertain truce in Ukraine

    Power Play: Uncertain truce in Ukraine, Obama budget could be costly for Dems, and union fight ahead in 2014

  4. Obama Budget To Clamp Down On Corporate Tax Dodges

    President Barack Obama's budget for the next fiscal year will propose stiffer tax rules for U.S. companies with overseas operations, The Wall Street Journal reported...

  5. Obama : Budget Deal Must Boost Education Spending

    President Barack Obama on Friday urged Congressional negotiators to craft a budget deal that was "prudent" but also expanded spending on education and scientific res...

  6. Obama : Budget stalemate 'spectacle' damaged America

    President makes statement on budget deal from White House

  7. Jack Lew defends Obama budget priorities, IRS investigation

    Treasury secretary on 'Fox News Sunday'

  8. IRS in the Hot Seat

    FBN’s Peter Barnes reports on protests by Tea Party activists against the IRS.

  9. Obama Budget's Impact on Small Business

    A look at what President Obama's $3.8 trillion budget plan translates into for small business.

  10. Obama budget to double debt by 2014?

    Art Laffer breaks down president's plan

  11. Progressive on the President's Budget Plan

    Congressman Alan Grayson (D-FL) talks to Alan about what progressives don't like about the president's budget plan.

  12. Friday Lightning Round: Sen. McConnell office bug

    Panel sums up this week's hot topics

  1. Sebelius’ resignation opens the ObamaCare 'Can of Worms'

    Obama electioneering preparing for November is underway. Plus - Scandals that just won't go away

  2. Will pent-up consumer demand drive stocks higher?

    Moody’s Capital Markets Chief Economist John Lonski on the markets.

  3. Debt rises in Obama budget ?

    Rep. Mike Pompeo says President Obama ’s budget will leave the U.S. begging for money down the road.

  4. John Stossel on Obama ’s budget plan

    FBN’s John Stossel weighs in on President Obama ’s budget plan.

  5. Hospitals being overpaid for medical treatment?

    Effort to control health care costs working?

  6. Bachmann reacts to Obama's budget proposal

    Minnesota lawmaker sounds off

  7. Obama Budget Targets $5.3T in Savings

    President Barack Obama proposed new tax credits and job-training programs for U.S. workers on Tuesday in a 2015 budget that highlights stark differences with Republi...

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