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Tag: tax cuts


Policy, State & Local

States tapping historic surpluses for tax cuts and rebates

August 31, 2022

Via: Washington's Top News

Stoked by the largest surplus in state history, Missouri’s Republican-led Legislature devised a $500 million plan to send one-time tax refunds to millions of households. In a shock to some, GOP Gov. Mike Parson vetoed it. Parson’s objection: He wanted […]


Federal, Policy

Biden corporate tax hike would have little impact on business investment, Wharton study says

April 7, 2021

Via: CNBC

The proposed increase to the corporate tax rate in President Joe Biden’s landmark infrastructure plan will not lead to a significant reduction in business investment, according to a new study from the University of Pennsylvania’s Wharton School. Of utmost interest […]


Federal, Policy

Biden Covid relief plan gives bigger boost to lower-income Americans than Trump tax cuts, study says

March 9, 2021

Via: CNBC

President Joe Biden’s coronavirus relief plan will boost low-income households more than the tax law signed by former President Donald Trump did, an analysis shows. The $1.9 trillion pandemic aid bill as passed by the Senate will raise after-tax income […]


Federal, Policy

The IRS is giving you more time to invest in this new tax-advantaged strategy

June 5, 2020

Via: CNBC

Investors who were sitting on the sidelines during coronavirus will get some more time to partake in a new tax play. Qualified opportunity funds were created by the Tax Cuts and Jobs Act of 2017. They offer taxpayers an incentive […]


Federal, Policy

Average tax refunds are down 8.4% in wake of Trump tax cuts

February 11, 2019

Via: CNBC

The first U.S. tax filing season under the overhaul that President Donald Trump signed into law at the end of 2017 got off to a slow start in the first week, with data released on Friday showing a significant drop […]


Federal, Policy

Commerce Secretary Ross: President Trump’s tax plan is working for America

April 30, 2018

Via: CNBC

As Americans filed their taxes this spring, they wrestled for the last time with a system that for decades plundered their paychecks and made American businesses uncompetitive. The Tax Cuts and Jobs Act signed into law by President Trump in […]


Federal, Policy

Yellen says tax cuts are blowing up the budget

April 9, 2018

Via: CNBC

Last year’s aggressive tax cuts are at the heart of a worsening budget situation that will see deficits surge in the years ahead, according to an op-ed by former Fed Chair Janet Yellen and others. The essay, published in Sunday’s […]


Federal, Policy

Congress faces a long agenda with short deadlines

January 2, 2018

Via: CNBC

Just back from a year-end break, Congress returns to a busy calendar with tight January deadlines on pressing issues ranging from children’s health care to avoiding a government shutdown. Last month’s protracted battle over a $1.5 trillion package of tax […]


Federal, Policy

Trump: Slashing taxes on corporations is ‘probably the biggest factor’ in GOP tax plan

December 20, 2017

Via: CNBC

Tax relief for the middle class is the “heart” of the Republican tax plan expected to become law in the coming days, President Donald Trump said Wednesday. Moments after touting middle-class benefits, however, Trump noted that slashing the corporate tax […]


Federal, Policy

Fed officials are casting doubt on GOP claims that tax cuts will pay for themselves

December 15, 2017

Via: CNBC

Federal Reserve officials do not seem to be buying what tax-cut advocates are selling, namely that economic growth will offset the proposed rate reductions. Even with the sharp uptick in 2018 GDP projections, central bank policymakers view gains in coming […]


Federal, Policy

Trump blames Sen. Bob Corker for ‘fighting’ tax cuts

October 24, 2017

Via: CNBC – Top News

The feud between President Donald Trump and Sen. Bob Corker erupted with new vitriol Tuesday, with the pair delivering blow after blow on Twitter and on television only hours before they were set to attend a Senate GOP lunch on […]