Word: capped
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
Since then, the measure, a tax cap designed to give citizens more control over their payments to municipalities and to limit a city's total property taxes to 2.5 percent of the market value of the community, has indeed proven to be a successful and durable...
...recent wave of criticism has led even some of the law's most fervent original advocates to question whether the tax cap in its current form is doing more harm than good...
Even court-appointed lawyers with good intentions are hampered by stingy allowances. Many work in states where there is a cap on both fees and legal expenses. Arkansas imposes a $100 limit on expenses and a $1,000 maximum on lawyer's fees. California, by contrast, routinely approves two lawyers for capital cases, pays them each an average of $75 an hour, and covers expert services, such as private investigators, which typically add $5,000 a month more to the defense tab. The state bill in an uncomplicated case comes to about $25,000, whereas in Arkansas, says Stevenson...
Under the existing law, American employers and employees this year will each pay a flat Social Security payroll tax of 6.2% on wages up to a cap of $53,400. Moynihan's proposal would cut the tax to 5.7% on July 1 of this year, to 5.5% in 1994, and to 5.2% in 1996. After five years, workers would pay only what is required to meet the benefits payments for that year's Social Security. With some workers saving up to $2,300 each during the transition period, says Moynihan, their added spending would stimulate the economy and create jobs...
...deficit, House Ways and Means Committee chairman Dan Rostenkowski argues that "the last thing we should be doing is cutting taxes." Speaker Tom Foley remains on the fence. Senate majority leader George Mitchell, initially cool to the Moynihan plan, now supports it "in concept," and has suggested raising the cap as a way to offset any revenue loss...