tax reform

Stories 1 - 20 |  Next >>

GOP May Use Retirement Accounts to Pay for Tax Cuts

Sources say Republicans may cap contributions to 401(k) accounts at $2,400 a year

(Newser) - Multiple sources say Republican lawmakers may be setting their sights on Americans' retirement accounts to pay for tax cuts, specifically to the business tax rate. The New York Times reports Republicans are expected to release a tax reform plan sometime in the next few weeks, and that plan could include... More »

Trump's Possible Savings With New Tax Plan: $1B

'NYT' runs some numbers, finds tax proposal might prove very good for Trump

(Newser) - It's hard to know for sure, but President Trump may save a pretty penny if his administration's "once in a generation" tax proposal goes into effect, despite Trump insisting earlier this week the plan is "not good for me." The New York Times put Trump'... More »

Trump Pitches 'Once-in-a-Generation' Tax Reform Plan

But so far it lacks details to back up claim that middle class will win big

(Newser) - President Trump launched his push for tax reform Wednesday in Indianapolis, promising a "once-in-a-generation opportunity" and "revolutionary change." "Under our framework, we will dramatically cut the business tax rate so that American companies and American workers can beat our foreign competitors and start winning again,"... More »

Trump Tax Plan Doubles Standard Deduction, Sort Of

President pitching cuts for middle class as well as corporations; many details up in air

(Newser) - With the push to repeal ObamaCare all but dead for now, President Trump and Republicans are moving on to their next big initiative: reform of the tax code. Trump and the GOP are releasing the broad strokes of their plan Wednesday, and the president will try to rally support for... More »

Trump Starts Tax Reform Push With Threats, Few Details

'I don't want to be disappointed by Congress. Do you understand me?'

(Newser) - "We're here today to launch our plans to bring back Main Street by reducing the crumbling burden on our companies and on our workers," CNN quotes President Trump as saying Wednesday. Trump officially started his push for tax reform with a speech in Missouri that mostly stuck... More »

Expect to Hear One Theme as Trump Begins Tax Reform Push

He and aides will talk about 'unrigging' the economy to help middle class

(Newser) - President Trump begins his push for another major goal of his White House in a speech Wednesday afternoon in Missouri: the need for tax reform. But White House officials previewing the speech on Tuesday made one thing clear: Don't expect policy details, reports the Kansas City Star . Instead, expect... More »

Trump's Tax Reform Plan Is Return of 'Voodoo Economics'

And just because we've seen his tax plan doesn't mean we'll see his taxes

(Newser) - President Trump's tax reform plan unveiled Wednesday heralds the return of the Laffer curve, or as it's more commonly known—thanks to the first President Bush—"voodoo economics." The New York Times reports the Laffer curve was first sketched on a napkin by Arthur Laffer in... More »

Trump: 'Doesn't Matter' if Vote on Health Care Next Week

But he does promise details on a 'massive tax cut' next week

(Newser) - President Trump says he plans to introduce a tax reform package next week that includes a "massive tax cut" for both businesses and individuals, the AP reports. According to CNBC , Trump is promising a "big announcement" on Wednesday that will "formally" start the tax reform process. While... More »

Mnuchin: Tax Reform Derailed by Health Care Failure

Mnuchin now says 'not realistic' tax reform gets done by August

(Newser) - It looks like the US won't have a reformed tax system by Labor Day after all. Steven Mnuchin tells the Financial Times that having a tax reform bill ready for President Trump's signature by August is "not realistic at this point." Two months ago, the Treasury... More »

Get Ready to Hear a Lot About 'BAT'

Proposed border tax is one of the thorniest issues with tax reform

(Newser) - With an ObamaCare alternative off the table for now , the White House is turning its attention to a new initiative, the first fundamental overhaul of the tax code in 30 years. Intense lobbying already is underway, with one of the most contentious issues the idea of a "border adjustment... More »

After AHCA Debacle, What's Next for Trump?

Tax reform and continued work on the travel ban loom

(Newser) - With the failed American Health Care Act now in his rear-view mirror, here are are three areas where President Trump could turn his attention next:
  • Tax reform. Trump and Paul Ryan have said their next priority will be tax reform, though it may be just as difficult for Republicans
... More »

Obama Budget Looks to Expand Tax Breaks for Poor

Budget also calls for drastic shift in military footing

(Newser) - President Obama will release his annual budget blueprint today, and it's widely expected to go precisely nowhere in Congress. "It's designed primarily as an appeal to his Democratic base," writes Darren Samuelsohn at Politico . But the New York Times notes that Obama is using the opportunity... More »

Finally, Washington Sees a Way Out

Obama, House GOP leaders to meet today

(Newser) - Signs of hope in DC: Both parties are increasingly pushing for an end to the government shutdown and a debt-ceiling increase, with President Obama set to meet with 18 top House Republicans today, the Hill reports. Those Republicans include Paul Ryan, who's at the forefront of a short-term plan... More »

Apple Case Clinches It: We Need Tax Reform Now

Don't blame the company, blame the tax code, say critics

(Newser) - So what can we take away from Apple chief Tim Cook's testimony on Capitol Hill yesterday about the company's byzantine tax strategy ? Not that Apple did anything illegal, only that it's savvy enough to employ "smart accountants and tax lawyers," says the editorial board... More »

Dear Fellow Republicans, Income Gap Is Un-American

Sheila Bair: Size of disparity defies GOP principles, too

(Newser) - Sheila Bair describes herself as "a capitalist and a lifelong Republican," and she thinks a reasonable level of income inequality makes for a healthy economy. But the current disparity between the uber-rich and the rest of us is ridiculous, writes the former FDIC chair in the New York ... More »

Washington's Next Brawl: Senate's Budget Plan

Schumer: A 'great opportunity' for new revenues

(Newser) - So the fiscal cliff battle is over, and House Republicans look ready to approve a debt-ceiling increase through March. But taxes aren't out of the spotlight: Now, the stage is set for a tussle over Senate Democrats' budget blueprint, which Dems like Charles Schumer are calling "a great... More »

How a Tax Break for Farmers Saves Big Firms Big Bucks

'NYT' sees it as example of how messy tax-code reform will be

(Newser) - Reforming the tax code will be a pitfall-studded affair, asserts the New York Times , which today offers up the tax break for "like-kind exchanges" as proof. This particular break was established nine decades ago as a way to help family farmers. It permitted them to sell land, equipment, or... More »

We Need a Minimum Tax on Über Rich

Warren Buffett: Taxes won't deter wealthy investors

(Newser) - Warren Buffett is taking another stand in the tax debate. In a New York Times op-ed this morning, the Berkshire Hathaway boss calls on Congress to establish a minimum tax on the richest Americans, "right now." His proposal: "30% of taxable income between $1 million and $10... More »

Tax Reform Won't Solve All Our Problems

Ezra Klein thinks Washington is investing too much in this idea

(Newser) - Both sides on Capitol Hill are embracing the idea of tax reform as a solution to the deficit crisis. John Boehner recently assured us that simplifying the code would "support economic growth," improve efficiency, and generate more revenue besides. "That’s the Washington consensus on tax reform:... More »

Guess Who Else's Secretary Pays Higher Tax Rate?

White House says Anita Decker Breckinridge pays higher rate than Obama, pushes Buffett Rule

(Newser) - Turns out Warren Buffett's secretary isn't the only one paying a higher tax rate than her rich boss: Anita Decker Breckenridge, the president's own secretary, pays a "slightly higher" tax rate on her $95,000 salary than the 20% Obama paid on his $790,000 , reports... More »

Stories 1 - 20 |  Next >>

AROUND THE WEB