Dear NAPFA: Don’t Take a Position on a Political Issue...
...unless it's on financial issues affecting markets, the economy or clients' well-being. Indiana's Religious Freedom Restoration Act doesn't pass that test.
Senator Says Spending Bill Ready Soon, Vows to Fight Social Security Cutters
Senate Appropriations head Barbara Mikulski sees the incoming GOP-controlled Congress as likely to reduce the number of Social Security field offices.
GOP to Offer Temporary Debt Ceiling Plan
The plan would also permanently bar Treasury from using extraordinary measures to avoid default.
Senate Banking Chief Johnson Announces Retirement
Sen. Tim Johnson, D-S.D., chairman of the Senate Banking Committee, announced Tuesday that he would not run for re-election when his term ends in 2014.
On J.P. Morgan Call, Optimism Reigns on Election, Fiscal Cliff
Speakers see room for optimism on changes in Congress, possible tax reforms.
Dallas Fed’s Fisher: U.S at Risk of Overprescribing ‘Monetary Ritalin’
Fisher’s comments come in response to the Federal Reserve Bank of Boston president’s call for more stimulus.
Bernanke to Senators: Don’t Dawdle in Addressing Fiscal Cliff
Fed Chairman Ben Bernanke signaled to senators on Tuesday that more quantitative easing measures might be taken and urged lawmakers to not dawdle in addressing the nation’s fiscal woes.
BDs Beware: Social Media Privacy Laws May Conflict With FINRA Rules
“Legislation that limits access to social media information may pose significant challenges for a large number of broker-dealers,” lawyers from Sutherland Asbill & Brennan wrote in a Law360 article.
More U.S. Citizens Jumping Ship to Avoid Taxes
While the number of Americans abandoning their citizenship is increasing, so too is the number of foreigners coming to U.S. shores to take advantage of so-called “investor visas.”
House Rejection of Senate Bill Leaves Payroll Tax Cut Uncertain
The House rejected, 229-193, on Tuesday the Senate bill to extend the payroll tax cut for two months as well as unemployment benefits. If Congress can’t break the logjam, 160 million Americans will pay higher taxes next year.