Jan 28, 2010
Reflections on the 2010 State of Union
ACR recaps highlights from the President’s State of the Union Address
Following is a broad summary of the proposals offered by the President (select ‘Continue reading’).
The important take-away from his speech is that the Administration has made a hard pivot away from health care reform, which wasn’t mentioned until half an hour into the speech, toward job creation in a clear effort to win back some of the political favor lost over the last few months. This new focus, combined with his plan to freeze government spending, will no doubt send Congress searching for additional revenue raisers – potentially including higher marginal tax rates for those singles earning more than $200,000 and couples earning more than $250,000.
ACR will be carefully monitoring both the President’s FY 2011 Budget and Congress’ work on the budget for any potential issues relating to the nonprofit sector. As always, we will continue to keep you updated on the latest.