Tax-owing GSA contractors examined by Senate panel
A Senate subcommittee review found contractors paid by the General Services Administration receive federal funds while owing large tax debts. Instances include a communications equipment firm with 100000 from the government yet nearly 900000 in unpaid taxes and a security services company owing over 3 million mostly payroll taxes. The GAO notes 3800+ contractors owe about 1.4 billion, with overall identified tax debts reaching 7.7 billion across hearings.
MENTIONED IN THIS ARTICLE
Washington, D.C
Senate Homeland Security and Governmental Affairs Permanent
General Services Administration
GSA
Record US current account deficit hits $804.9 billion in 2005
The Commerce Department reports the 2005 current account deficit at $804.9 billion, up 20.4 percent from 2004’s $668.1 billion. February retail sales fell 1.3 percent led by autos clothing and furniture amid cold weather. Inventory growth in January rose 0.4 percent as sales increased 1.3 percent. The deficit rose to 6.4 percent of GDP from 5.7 percent in 2004.
MENTIONED IN THIS ARTICLE
Washington, D.C
America
Commerce Department
Ian Shepherdson
U.S
High Frequency Economics
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