President Barack Obama and his administration are attempting to protect billions of dollars in R&D aid from sweeping budget cuts, said Politico Pro. In addition to meeting with recipients of R&D…
December 12, 2012
President Barack Obama and his administration are attempting to protect billions of dollars in R&D aid from sweeping budget cuts, said Politico Pro. In addition to meeting with recipients of R&D aid in the science and technology sectors, Obama said in a Twitter live chat last week that the administration is looking to defend its aid budget while offering cuts from alternative areas.
The Obama administration’s proposal to tax high income earners would hit about 940,000 people who report business income on their individual or household returns, said the Associated Press. While the overall economy wouldn’t be deeply affected as that figure accounts for a small percentage of business owners, those owners are projected to earn over half of the $1.3 trillion in business income reported to the federal government each year – a key argument for Republicans who oppose taxing the wealthy.
House Homeland Security Committee Chairman Michael McCaul (R-Texas) indicated last week that bringing a tech industry-approved cybersecurity bill to the floor is at the top of his agenda; this according to The Hill. McCaul said he will consult with tech companies and critical infrastructure operators to get their feedback on what measures should be included in the proposed legislation.