Republican U.S. presidential candidate Rand Paul is proposing that businesses and individual Americans pay a federal flat tax of 14.5 percent in a plan that would cut the government's tax revenue by more than $2 trillion over 10 years. The Kentucky senator's plan, which he describes in a Wall Street Journal's opinion piece being published on Thursday, would establish a 14.5 percent flat-rate tax applied equally to all personal income, including wages, salaries, dividends, capital gains, rents and interest. Paul said the first $50,000 of income for a family of four would not be taxed and that for low-income working families, the plan would retain the earned-income tax credit.
The document, an official draft of a notice to be published in the Federal Register, contains the most strongly worded language to date by regulators at the National Highway Traffic Safety Administration and expands from 20 to 22 the number of recalls that NHTSA intends to scrutinize at a public hearing on July 2. The automaker could face more than $700 million in fines and be required to buy back or replace vehicles if regulators find that it failed in its legal recall obligations. NHTSA and FCA did not respond to inquiries seeking comment.
Hundreds of workers mobilized by their union protested on Wednesday outside the Trump Taj Mahal Casino Resort in Atlantic City, New Jersey, where nearly 70 demonstrators were arrested as they denounced court-approved cuts to benefits for employees at the hard-hit casino, officials said. The protest over the cuts sought by billionaire investor Carl Icahn in exchange for keeping the establishment open comes at a time when the Jersey Shore resort city is suffering as gambling revenue drops and casinos close. Atlantic City casinos generated about $2.74 billion in betting revenue last year, down 4.5 percent for the year and well below the $5.2 billion peak in 2006 before neighboring states allowed casinos to open.
OKLAHOMA CITY (AP) — An Oklahoma man accused of sexually abusing children at an orphanage in Kenya testified Wednesday about his Christian faith and his onetime belief that he was possessed by a demon that made him "do evil" as he denied allegations that could send him to federal prison for the rest of his life.
FRESNO, Calif. (AP) — A new company has been selected to take over hotels, restaurants and outdoor activities at Yosemite National Park under the national park system's most lucrative single contract for services, officials said Wednesday.
WASHINGTON (AP) — President Barack Obama and top Republicans in Congress joined forces Wednesday on a quick, bipartisan rescue attempt for the administration's trade agenda, left for dead in the House last week in a revolt carried out by Democrats and backed by organized labor.
By Richard Cowan and Roberta Rampton WASHINGTON (Reuters) - The U.S. House of Representatives plans to bring legislation central to President Barack Obama's Pacific Rim trade agreement back to the floor for debate on Thursday, giving lawmakers a chance to deal with it in a different format. After a major setback last week, a measure that would give Obama "fast-track" authority over his 12-nation Trans-Pacific Partnership (TPP) agreement would be considered again by the House, under the plan hatched by Republican leaders. The House Rules Committee on Wednesday approved the rules for the debate.