1. Dimon Says Stringent Capital Requirements Are Impeding US Growth And US Banks Should Not Be Held To International Standards
(Matching tags: banks,Congress,Federal Reserve)

Banks have become flush with cash in their efforts to prepare for stringent capital requirements handed down by Congress.   JPMorgan Chase & Co. CEO Jamie Dimon says the capital buildup ...

2. Calculations In Economic Reports Are Increasingly Viewed With Skepticism By Investors, Making It Difficult To Make Decisions And Possibly Hampering Economic Recovery
(Matching tags: Economic Outlook,Congress,investor behavior)

Are government statistics and economic reports really offering investors the information they need to make prudent investment decisions?   John Browne says that the calculations used in these ...

3. Simpson And Bowles Renew Effort To Reach Bipartisan Compromise On Deficit Reduction; It's The Fourth Try In Three Years
(Matching tags: Congress,Economic Outlook,deficit)

Alan Simpson and Erskine Bowles are at it again. On Tuesday, February 26, they will offer yet another fix for the tax code and the US deficit.   The effort is to carve a path toward bipartisan ...

4. 2013 May Be The Perfect Year To Convert To A Roth; It's A Good Conversation For Setting Up A Client Review To Plan For The Year
(Matching tags: Congress,roth ira conversion,Taxes)

If your clients have been wondering whether it makes sense to convert to a Roth IRA, this might be the year to say yes.   The new tax year delivered a threshold of $400,000 individually and ...

5. Wealthy Are Restructuring Asset Ownership, Asset Location, And Even Moving To Avoid Higher Taxes; Say They Wouldn't Mind Paying If Money Was Being Used Responsibly
(Matching tags: Taxes,Congress,investor behavior)

... and New Jersey, in particular, have raised taxes at the state level along with higher taxes ushered in by the late date Congressional agreement to avoid the fiscal cliff.  ...

6. FINRA Puts SRO Priority On Back Burner, Noting Little Momentum In Congress In Support Of The Measure
(Matching tags: FINRA,Congress,Dodd-Frank)

FINRA is putting its plans on hold to become the SRO to oversee investment advisors.   Noting that there seems to be little momentum in Congress to create an SRO to help the SEC examine more ...

7. New CBO Report Predicts Reduction In Deficit Over Next Few Years And Also Shows What It Will Take To Restore Fiscal Stability
(Matching tags: Congress,debt,economy)

A recent report from the Congressional Budget Office (CBO) says that the improving economy and recently enacted tax increases will bring down the federal deficit over the next few years.   The ...

8. Democrats Mull Options For Delaying Sequestration, Inviting Round Two Of The Revenue Fight With Republicans
(Matching tags: Congress,defense,deficit)

Democrats are said to be contemplating a short delay in spending cuts, called sequestration, that are scheduled to kick in on March 1.   A closed-door retreat in Annapolis, MD will house the ...

9. Structure Of Consumer Financial Protection Bureau Comes Under Fire From Republicans Even After They Had Input On Its Formation During Development Of Dodd-Frank
(Matching tags: regulation,Congress,Dodd-Frank)

Republicans are digging in their heels, refusing to allow anyone from any party to be named head of the Consumer Financial Protection Bureau (CFPB) until the agency’s infrastructure is overhauled. ...

10. Survey Shows Americans' Views Of Social Security Fix Is Quite Different Than That Of Lawmakers
(Matching tags: Congress,Economic Outlook,social security)

A new survey says that most Americans want Social Security to stay, even if it means raising payroll taxes on American workers.   The study conducted by the National Academy of Social Insurance ...

11. Senate Approves Suspension Of Debt Ceiling Until May 19 And Attempt To Impose European-Style Austerity Through Spending Cuts
(Matching tags: Congress,Economic Outlook,debt)

A House measure that would suspend the debt ceiling until May 19 passed the Senate yesterday. The measure passed 64-34 and avoids a budget showdown the likes of August 2011.   Republicans used ...

12. House Ways And Means Committee Mulls Changes In Taxation For Various Financial Products
(Matching tags: Congress,Taxes,investing)

The House Ways and Means Committee has proposed a series of tax reforms on various financial products ranging from financial derivatives to simplifying business hedging tax rules.   Transactions ...

13. In About Face, House Republicans Offer Plan To Ignore Debt Limit Until May, A Move The White House Will Not Oppose
(Matching tags: defaults,deficit,Congress)

Today the House will attempt to advance an unusual Republican proposal to simply ignore the debt limit until May 18, making the current debt ceiling crisis disappear and with it, the threat of imminent ...

14. Business Roundtable Recommends Raising Retirement Age For Social Security And Eligibility Age For Medicare To 70
(Matching tags: business owners,Congress,social security)

The Business Roundtable representing CEOs of major US corporations recommended increasing eligibility ages for Social Security and Medicare as a way to bolster the two programs.   It would raise ...

15. Markets Just Have To Muddle Through Debt-Ceiling Negotiations, Then Are Likely To Go Up
(Matching tags: Congress,markets,stocks)

Three renowned market strategies said the markets have already factored in the impact of the debt ceiling.   Liz Ann Sonders of Charles Schwab, Jeff Rosenberg of BlackRock, and Milton Ezrati ...

16. A Virtually Unnoticed Report Last Week Recommended Lowering Tax Rates By 44%; The Body Issuing It Has The Power To Make Legislative Proposals To Congress
(Matching tags: Taxes,IRS,Congress)

... legislative proposals to Congress, says that if Congress would eliminate all tax expenditures, it could reduce individual tax rates by 44% and still collect about the same amount of revenue.  ...

17. Ratings Agencies Already Gearing Up For US Downgrade Unless Congress Can Formulate A Budget Agreement To Reduce Debt Burden That Sticks
(Matching tags: Congress,credit downgrade,economy)

The failure to resolve the debt ceiling issue is once again likely to result in a downgrade of US debt. Ratings agency Fitch is already outlining two paths to a downgrade.   One would be if ...

18. Fears That An Acrimonious Congress Is Hurting The Economic Recovery Are Largely Unfounded, For Now
(Matching tags: Congress,economy,Economic Outlook)

The common thought is that Congress’s inability to compromise on fiscal issues is holding the economy back when, in fact, they may be having a positive effect.   In addition to retailers, ...

19. Cost Of Living Adjustments By IRS Inadvertently Cause Increase In Estate And Gift-Tax Exclusions
(Matching tags: Congress,estate planning,gifting)

New cost-of-living adjustments (COLA) by the IRS will grant taxpayers an extra $130,000 in 2013 to leave their heirs on a tax-free basis.   The estate tax exclusion will now be $5.25 million ...

20. Wharton Professor Mitchell Says US Should Look To Foreign Retirement Systems For Domestic Fix In Advisor One Interview
(Matching tags: Congress,retirement,social security)

The US might do well to follow the example of foreign retirement income systems in its approach to fixing Social Security.   That would require stepping back and looking beyond Congress’s ...