President Obama called for expanding middle-income tax incentives, tweaking the Affordable Care Act’s excise tax on high dollar health plans and net investment income tax, imposing a fee on oil to fund infrastructure spending, and more in his fiscal year 2017 federal government budget released on February 9th.
Some interesting items that have been proposed, include a fee of $10.25 per barrel of oil tax on all imported and domestically produced oil, and a tax credit up to $5,000 for each qualifying employee hired on a full-time basis that have recently graduated from a community or technical college and an increase to the Section 179 expense limitation from $500,000 to $1,000,000.
