Riding a tide of tax cuts and rising profits over four decades, the captains of corporate America have shifted $1 trillion each year from the paychecks of middle class Americans … Click to Continue »
Politico reports: Republicans have begun rethinking their plans to slash taxes on the rich, a major change in direction driven by political and budgetary realities. Though both the Trump administration and House Republicans have proposed steep cuts for the wealthy, scaling them back would make the politics easier, because any boon to the rich would […]
"The only prescription Trump has for unrigging the economy is tax cuts" that "almost exclusively benefit the people who are doing the rigging."
After screaming about budget deficits throughout the Obama administration, Republicans in Congress are apparently planning to pass tax cuts that will substantially increase the budget deficit from the baseline projections. The NYT decided...Show More Summary
Senate Republicans, abandoning a key fiscal doctrine, agreed to move ahead on a budget that would add to the federal deficit in order to pave the way for a $1.5 trillion tax cut.
WASHINGTON — Top Republicans on a key Senate panel have reached a tentative agreement on a tax plan that would add about $1.5 trillion to the government’s $20 trillion debt over 10 years, according to congressional officials. Tennessee Sen. Bob … Continue reading ? The post AP Report: GOP tentatively agrees to $1.5 trillion plan on tax cuts appeared first on PBS NewsHour.
President Donald Trump appears close to backing off a slew of campaign promises on tax reform, reports said Tuesday. Politico's Josh Dawsey and Ben White reported Tuesday that the plan set to be unveiled next week by the "big six" tax...Show More Summary
President Trump has touted the tax cut currently being shaped by his administration and Congress as the biggest in American history, but just how big it could be is — and will be — the subject of some heated debate. Now we have a number:...Show More Summary
U.S. Senate Republicans have reached a tentative budget deal that could allow U.S. tax revenues to decline by as much as $1.5 trillion over 10 years, but they have not agreed on whether to prevent such losses from expanding the federal budget deficit. The tax cuts are part of closed-door talks...
Jamie Dimon says American companies need tax cuts to be competitive. They don't. If they did, they wouldn't have so much cash to blow on executive compensation and financial engineering. Jamie Dimon, the CEO of JPMorgan Chase — the biggest...Show More Summary
The GOP is considering walking back some of its longstanding tax goals in a bid to bring Democrats on board.
WASHINGTON (AP) — A Republican on the Senate Budget Committee says that tax cut advocates on the panel are pressing for cuts that could add $1.5 trillion or more to the deficit over the coming decade. Wisconsin Sen. Ron Johnson saidShow More Summary
Markets Brace for Fed’s Big Move: The End of Easy Money (WSJ) Senate GOP Has 12 Days to Repeal Obamacare and No Room for Error (BBG) Senate GOP Considers a Trillion-Dollar-Plus Tax Cut for Budget (WSJ) In first speech at U.N., Trump to single out North Korea, Iran (Reuters) Trump to Push Nationalist Policy in First U.N. Show More Summary
Senate Republicans are considering writing a budget that would allow for up to $1.5 trillion in tax cuts over the next decade, the Wall Street Journal reports. Axios: “Writing a budget is the first step in working on tax legislation [...]
President Trump is betting he can turbocharge the U.S. economy with tax cuts and trade deals, but his greatest leverage to influence growth may rest with an unparalleled opportunity to reshape the world’s most powerful central bank. Because of a wave of vacancies, Trump will have the ability in...
Republicans straining to find about $1 trillion to finance sweeping tax cuts are homing in on two popular deductions that are woven into the nation's fiscal fabric. One is the … Click to Continue »
On Friday, a bus emblazoned with the mantra “Tax Cuts Now” parked itself in front of the main Internal Revenue Service (IRS) building in downtown Washington, DC and out piled small business owners who had been traveling the country,Show More Summary
Just when investors thought they were out, President Donald Trump is pulling them back in. Months after the so-called "Trump trade" fizzled, traders are once again being enticed by the possibility of a pro-business policy overhaul —Show More Summary
Let’s be frank, it’s natural for people to want lower taxes. Such is what gubernatorial Republican candidate Kim Guadagno promises. Democrat Phil Murphy promises the opposite. Nonetheless there are compelling reasons why NJ needs to raise more income tax revenue....Read more
President Donald Trump appears to be on an island when it comes to his desire to fulfill one of his biggest campaign promises. Since 2015, Trump has advocated for the federal corporate tax rate to be slashed from its current rate of 35% to 15%. Show More Summary