The Congressional Budget Office said that the so-called X-date could occur as early as spring if Congress does not lift or suspend the nation’s debt limit.
Category: Tax Cuts and Jobs Act (2017)
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Scammers Stole Their Retirement Savings. Then the Tax Bill Arrived.
The victims pulled money out of their retirement accounts. The withdrawals had inflated their taxable income, even though the funds quickly disappeared.
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PCE Report Showed Inflation Eased Slightly in January
The central bank wants to see further progress that price pressures are easing before it lowers interest rates again.
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GOP Gambles on Budget Plan That Helps the Rich and Cuts Aid to the Poor
The House Republican budget plan would pair tax cuts that primarily benefit the rich with cuts to programs that help the poor.
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Markets and Corporate America Are Unfazed by Washington Chaos, for Now
The federal budget debate has big implications for the economy. Businesses are betting that tax cuts will be extended and the math will work out.
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Republicans Want Lower Taxes. The Hard Part Is Choosing What to Cut.
House Republicans are preparing to adopt a plan that puts a $4.5 trillion limit on the size of the tax cut, but even that will not be enough for some of President Trump’s promises.
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Wall Street Prepares to Defend Carried Interest, a Favored Tax Break, Again
President Trump called for ending the so-called carried interest loophole, which saves financiers billions. It’s a tax break that has survived time after time.
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Federal Debt Is Now Worrying Even Progressives
Long a focus of conservatives, the level of public borrowing is starting to concern left-leaning economists. Proposed remedies still differ radically.
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What Did Trump’s Tax Cuts Do?
Economic upheaval caused by the pandemic has clouded analysts’ ability to understand the effects of the 2017 tax law. Republicans call it a huge success and want to extend it anyway.
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Tax Cuts or the Border? Republicans Wrestle Over Trump’s Priorities.
President-elect Donald J. Trump has waffled on his preferences for how his party tackles his agenda, adding to the uncertainty for Republicans.
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Trump Tossed a Debt Limit Grenade Into Spending Talks. Here’s Why.
President-elect Donald J. Trump was forced to negotiate with Democrats over the borrowing cap during his first term.
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Washington and the Markets are Feeling the President-elect Effect
The President-elect takes office in a month, but his influence on policy is already being felt by investors and across Washington.