President's budget would boost SEC funding, change tax planning

04/11/2013 | Financial-Planning.com

President Barack Obama's 2014 budget calls for a $350 million increase in funding for the Securities and Exchange Commission, a proposal that drew praise from the Financial Planning Coalition. "Congress has repeatedly inadequately funded the SEC, impeding its oversight and examination of investment advisers," the group said. Obama's budget seeks to reduce the federal deficit, in part by capping certain tax deductions and setting a minimum tax rate of 30% for high-income households.

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