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W&M hearing on the economy

October 29, 2008

As
an apparent precursor to a second round of rebate checks, the House
Ways and Means Committee today is holding a hearing on "Economic
Recovery, Job Creation and Investment In America."

In announcing
the hearing, Committee Chairman Charles Rangel (D-NY) noted the
severity of the recent economic downturn and its effects not only on
individuals, but also on state and local governments.

Witnesses invited to testify before the panel include:

  • David Paterson, Governor, State of New York

  • Mark Sanford, Governor, State of South Carolina

  • Douglas Palmer, Mayor, City of Trenton, N.J.

  • Timothy Firestine, Chief Operating Officer, Montgomery County Executive, Rockville, Md.

  • David Mongan, President, American Society of Civil Engineers

  • Dennis Van Roekel, President, National Education Association

  • Jared Bernstein, Ph.D., Director, Living Standards Program, Economic Policy Institute

  • Robert Greenstein, Executive Director, Center on Budget and Policy Priorities

  • Christine Owens, Executive Director, National Employment Law Project

  • Jeanne Lambrew, Ph.D., Associate Professor, LBJ School of Public
    Affairs, University of Texas at Austin, and Senior Fellow, Center for
    American Progress, Action Fund, Austin, Texas

  • Martella A. Turner-Joseph, Vice President, Joseph & Turner Consulting Actuaries, LLC, New York, N.Y.

  • Alan Viard, Ph.D., Resident Scholar, American Enterprise Institute

Testimony
begins at 10 a.m. Eastern (9 a.m. Central). You can watch the proceeding
by clicking on the live committee action link at the Ways and Means home page.

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TAX-SAVVY WAYS 
TO WRAP UP 2026

It’s over! With October’s extended filing deadline behind us, it is now time to focus on year-end moves to reduce your 2026 tax bill. 

You’ll find ways to do just that on the Tax Tips page (see the More Tax Posts drop-down menu at the top of the blog), as well as the separate tax tip pages for each month, notably October through December. If you’re on the Tax Tips page, you’ll find a monthly list at the end of this column. If you’re on another blog page, you can head straight to the October tips; at the bottom of that tips page you’ll find links to all the other 11 months’ collections of tax advice.

Not to spoil what you’ll find in that tax advice, but it does cover such things as tax deductions for charitable donations, investment moves that could reduce tax due, and ways to max out your tax-favored retirement savings. 

Finally, as the year winds down, things get hectic. There are lots of other things to occupy our time, like the much more fun upcoming holidays. But don’t lose sight of taxes, since timing is key. To be of use, most tax moves must be made by the end of the tax year. That’s Thursday, Dec. 31, which also is the last business day of the year. 

So that you don’t miss that final tax year deadline, also keep an eye on the countdown clock below. It will keep you on top of just how much time is left to make important, tax-saving moves. (Note: I’m in the Central Time Zone, so adjust accordingly for where you live.)

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