By Marysol Guzman |Staff Writer| With only a few weeks before automatic federal spending cuts occur, President Barack Obama presented alternative ways to innovate the fiscal plan. The fiscal plan was scheduled to take effect on Jan. 1 but was extended to March 1 of this year. At a press conference last Tuesday, Obama proposed a new package that included different spending cuts, tax increases and tax reforms. Obama said the sequester (larger cuts) will only weaken the economy and possibly even slow down the attempt to recover the country. “We can’t just cut our way up to prosperity. It hasn’t worked in the past and it wont work today,” said Obama. Obama made it clear that the … [Read more...] about Debt ceiling closing in
TAX INCREASE
Taxes rip through middle class
By, Maria Aguilar |Staff Writer| Bush-era tax cuts expire Dec. 31, raising taxes on middle class families in 2013. President Obama is trying to extend middle-class tax cuts through the end of next year. The Senate has approved the proposal and unless the House of Representatives votes and passes the bill before Dec. 31, middle class families will see an increase of approximately, $2,200 for an average family of four, according to Whitehouse.gov. “Middle class families are struggling to pay their bills and college students are broke. If the middle-class tax cut is not extended it is going to have an effect on these families,” said Erica Barajas. The Democratic-controlled Senate and the … [Read more...] about Taxes rip through middle class
Looming $200 million CSU cut hurts financial aidless
By Lizbeth Lopez |Staff Writer| It seems just about every quarter you can log into MyCoyote and always find in bold red letters something like the following, “On July 12, 2011 the CSU Board of Trustees approved an additional twelve percent tuition fee increase effective Fall 2011 after a $650 million cut to the CSU system budget cut by the State of California.” When will the tuition increases and CSU budget cuts stop? What is Gov. Jerry Brown doing to assist offsetting these tuition fee increases? According to the California State University Office of Public Affairs, Brown wants to raise income taxes on high-income earners and increase the state sales taxes, estimating to … [Read more...] about Looming $200 million CSU cut hurts financial aidless