Some Republicans want to use revenue collected from higher duties on foreign goods to finance tax cuts. Economists say such a shift could widen the gap between the rich and the poor.
Category: Tax Cuts and Jobs Act (2017)
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I.R.S. Crackdown on Delinquent Millionaires Yields $1 Billion
The beefed-up enforcement is part of the agency’s modernization initiative aimed at improving customer service and catching wealthy tax evaders.
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Democrats’ Dream of a Wealth Tax Is Alive. For Now.
A narrow Supreme Court ruling left the door open for Congress to expand taxes on billionaires, but it’s not a guarantee.
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Supreme Court Upholds Trump-Era Tax Provision
The tax dispute, which was closely watched by experts, involved a one-time foreign income tax, but many saw it as a broader challenge to pre-emptively block Congress from passing a wealth tax.
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U.S. Debt on Pace to Top $56 Trillion Over Next 10 Years
Congressional Budget Office projections released on Tuesday show a grim fiscal backdrop ahead of tax and debt limit fights.
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Courting C.E.O.s, Trump Says He Intends to Cut Corporate Taxes Again
Donald Trump cut the business tax rate to 21 percent from 35 percent in 2017. Speaking privately to business leaders, he said if he retook power, he wanted to make it 20 percent.
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Biden Looks to Raise Taxes on Wealthy and Corporations to Shave Deficit
Lael Brainard, the director of the National Economic Council, said lawmakers should raise taxes on companies and the wealthiest while extending the 2017 cuts for those making less than $400,000.
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Biden Tax Increases Won’t Hit Middle Class, Yellen Says
Republicans pressed the Treasury secretary on the fate of the Trump tax cuts that will expire in 2025.
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Trump or Biden? The Stock Market Doesn’t Care.
Prediction markets say former President Donald J. Trump has a good chance of winning. So far, the stock market is fine with that.
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Trump’s Tax Cut Fueled Investment but Did Not Pay for Itself, Study Finds
The most detailed research yet on corporate response to the 2017 Republican tax law shows modest gains for workers and high cost to the federal debt.