Site last updated: Sunday, November 17, 2024

Log In

Reset Password
MENU
Butler County's great daily newspaper

POLITICAL NOTEBOOK

U.S. Rep.

Phil English, R-3rd, last week announced legislation to establish a new standard home office deduction — a move he said would ease financial burden on home-based businesses."The complexity of our tax code has tied up home-based businesses in miles of red tape for far too long," said English, a member of the House Ways and Means Committee, which has jurisdiction over tax issues."As the number of businesses operating out of home continues to rise, they should not be penalized for their location."The home office deduction currently allows entrepreneurs to deduct expenses incurred as a result of operating a business exclusively out of the individual's home. The deduction's complex rules, coupled with heavy paperwork, often dissuade business owners from taking advantage of these tax deductions.English said his bill would eliminate this barrier and set a standard deduction of $2,000 for home-based businesses.Without changing the IRS requirements for a home-office, business owners would have the option to continue deducting the depreciated amount plus operation costs in the excess of $2,000 as they currently do, or simply deduct the standard $2,000 amount.U.S. Rep.

Melissa Hart, R-4th, a member of the House Ways and Means Committee, last week voted to approve the Pension Protection Act of 2005. The bill now goes to the full House for a vote.She said that in addition to ensuring that corporations faithfully maintain the health of employee pension plans, the legislation also gives employees more access to information about the status of their company's pension plan."This legislation forces companies to properly fund employee pension plans so that workers who have been planning on getting full pensions, and who have put in 20 to 30 years with the same company in some cases, don't have the rug pulled out from under them before retirement," Hart said.Hart noted the legislation also includes important provisions that would bar company executives from keeping lucrative compensation packages upon their departure if the pension program for all employees is not in good financial shape.Current rules managing pensions have left the Pension Benefit Guaranty Corporation, a government entity that insures failed pensions, with a record deficit of $23 billion in 2004. The PBGC estimates that single employer pension plans are currently under-funded by $450 billion.Current law gives companies upwards of 30 years to make up any shortfall in funding 100 percent of the their pension liabilities. The legislation would cut that time to seven years.Throughout November and December, the district offices of state Rep.

Brian Ellis, R-11th, will serve as collection centers for the Marine Toys for Tots Foundation.Residents can bring any unwrapped new toy to Ellis' Lyndora or Winfield Township office and deposit the item in one of the bins provided by Toys for Tots.The offices will accept gifts until Dec. 16.Ellis' offices are at 200 Chesapeake Place in Lyndora; and at the Winfield Township Municipal Building, 194 Brose Road.The Lyndora office is open from 9 a.m. to 4:30 p.m. Monday to Friday. The Winfield office is open from 9 a.m. to noon Mondays, Tuesdays, Thursdays and Fridays.More information about the program, which is sponsored by the U.S. Marine Corps, is available at www.toysfortots.org. Residents can also donate money to the organization through the Web site.State Rep.

Frank LaGrotta, D-10th, is calling for legislative reform he said would make state government more efficient, and ensure greater government accountability.LaGrotta has joined with Rep.

Dwight Evans, D-Philadelphia, to sponsor a package of legislation to execute a long-term strategy for planning and evaluating state programs.According to LaGrotta, the measures would establish a number of new procedures for state agencies and programs, including:Submitting five-year plans for improving efficiencyAnnual performance plans to implement efficiency strategies and reports to determine whether those goals were realized.Creation of a temporary commission to establish a system that will ensure all state programs undergo periodic performance evaluations.LaGrotta said the final element of the plan would create an independent fiscal review board comprised of tax policy and public finance experts. The board's first task would be studying tax systems across the state and recommend ways to modernize and streamline the tax collection process.The board also would be required to prepare revenue forecasts, fiscal analyses of budget bills, and monitor economic trends and factors that impact revenue systems at the state and local levels.To help seniors and their family members better understand the new Medicare prescription drug benefit, U.S. Rep.

Phil English, R-3rd, recently launched a new Medicare Web page at www.house.gov/english/medicare.shtml.The Web page also provides a link to the Center for Medicare and Medicaid Services' Prescription Drug Plan Finder.After answering a series of questions based on the current coverage of the beneficiary, this newly launched tool will provide beneficiaries with a tailored plan comparison based on the priorities of the beneficiary, such as cost, coverage and convenience.Beneficiaries that do not use the Internet will be able to receive the same information by calling 800-MEDICARE. Contact information regarding PACE/PACENET programs is also offered on the Web page.

More in Government

Subscribe to our Daily Newsletter

* indicates required
TODAY'S PHOTOS