January 7, 2009
CBO Sees Lower Deficit, Even Surpluses, But Tax, Spending Reality Might Differ
This year's federal deficit will fall to a manageable $158 billion, or just 1.2% of GDP, the Congressional Budget Office said Thursday, but it warned that spending will become unsustainable over the longer term without major tax hikes.
New tax revisions tighten rules on charity donations
Donating an old toaster or television to a local charity won't count as a tax deduction if it's not in good condition. And those used undies and socks?
Revision of council tax 'will not cause big rise'
The revaluation of council tax should not create dramatic increases in the amount people pay, Nick Raynsford, local government minister, has said. Valuation officers yesterday began the task of reassessing house prices to determine future levels of council tax - the first reassessment in 14 years.
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