The Woodward News

Local News

March 5, 2014

Obama offers budget designed to rally Democrats

(Continued)

Woodward, Okla. — The largest tax increase would limit deductions for high-income taxpayers, raising $600 billion over the next decade. Obama has proposed that tax hike in every one of his budgets, only to have it die in Congress.

In fact, the vast majority of Obama's tax proposals are reruns. Of the 175 or so tax provisions, only 28 are new. Taxes would also be raised on large estates, financial institutions would pay $56 billion over a decade through a "financial crisis responsibility fee," smokers would pay 94 cents more a pack in cigarette taxes and managers of private investment funds would see their income taxed as wages instead of investments.

The budget also contains a four-year $302 billion plan to boost spending on highways, rail projects and mass transit. Both the administration and House Republicans propose using one-time revenue from a tax on the overseas profits of U.S. companies to finance a renewal of surface transportation programs after they expire at the end of September; the administration claims $150 billion for such purposes. But the money is contingent on a broader overhaul of the corporate tax code, which may be a stretch in an election year.

There are lots of other initiatives sprinkled throughout, including a 10-year, $66 billion plan to fund preschool for all 4-year-olds, $30 million in the upcoming year to hire young people and veterans to repair and improve national parks and a "New Career Pathways" initiative to try to help as many as 1 million unemployed workers get new jobs.

And NASA would put aside $15 million — a small amount — to begin work on a new robotic mission to Europa, the moon on Jupiter where many scientists think there may be life. NASA won't say how much the project will eventually cost but it's likely to be significant.

The president's spending plan also takes credit for reducing accumulated deficits over coming decade by $2.2 trillion. Nearly one-third of that comes from claimed savings from the end of the U.S. war in Iraq and the gradual withdrawal of forces from Afghanistan.

Text Only
Local News
  • State board votes again to delay education plan

    OKLAHOMA CITY (AP) — Oklahoma's State Board of Education voted on Wednesday for a second time to delay a formal plan for adopting new education standards in math and English amid opposition to the proposal from three education groups that represent public school boards and administrators across Oklahoma.

    July 24, 2014

  • Winners of Cudd Legacy award named

    Three veterans of the oil industry will receive this year's Bobby Joe Cudd Legacy Award during the Tri-State Oil and Gas Convention on Aug. 7 at the Woodward Conference Center.

    July 24, 2014

  • Benefit gun raffles underway

    Woodward Reserve police officers and other Woodward full time officers have come together to support one of their own.

    July 24, 2014

  • Tulsa man looking for military friend

    There are times in everyone's life when you think back and wonder whatever happened to those old friends from your past.

    July 23, 2014

  • Zoning change approved by commission

    Monday night Woodward city commissioners unanimously approved a zoning change that was contested by one local man who was protesting because he wants the neighborhood to continue its residential growth.

    July 23, 2014

  • Tangier Reunion set for Saturday, Sunday

    When Barbara (Allison) Merwin thinks back to the years she spent in the classrooms of Tangier High School, it takes a few moments for her to recall how school life was 60 years ago.

    July 23, 2014

  • Traveler Majors take regional opener

    ALVA - The Traveler Majors continued their strong Connie Mack playoff showing at Northwestern Oklahoma State University Tuesday.

    July 22, 2014

  • County OKs road use agreement

    Woodward County Commissioners on Monday approved a final version of a road use agreement between a energy company planning a wind turbine construction project near southeast Woodward County.

    July 22, 2014

  • Camp to show art is everywhere

    The Woodward Arts Theatre will become a recycling plant next week.

    July 22, 2014

  • Fairview Wrangler Rodeo turns 50 this year

    Western fun continues in Northwest Oklahoma as the Fairview Wrangler’s hosting their 50th annual rodeo.

    July 22, 2014