This year will mark the final year of many of President George W. Bush’s tax cuts from 2001 and 2003. Many deductions and tax cuts are set to expire this year and there’s a lot of talk about what Congress and President Obama will do. One plan that was thrown out about a month ago is the Wyden-Gregg Tax Plan, titled S. 3018 The Bipartisan Tax Fairness and Simplification Act of 2010.

It’s sponsored by Ron Wyden, Democrat Senator from Oregon, and Judd Gregg, Republican Senator from New Hampshire, and it was introduced in late February. You can read the text of the draft bill here but here were the big takeaways I read. According to OpenCongress, the bill is currently in the Committee on Finance.

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The Huffington Post shared the thoughts of Sen. Jon Kyl (R-AZ) on unemployment this week:

Unemployment insurance “doesn’t create new jobs. In fact, if anything, continuing to pay people unemployment compensation is a disincentive for them to seek new work,”

The title of the article is a little misleading. In quotes, Kyl said that benefits dissuade people from job hunting, not that they “make people not want to get a job,” as the title states. While I didn’t hear or read about the debate, it seems like a stretch to take the quotes and twist them to match the title.

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