Lael Brainard, the National Economic Council director, contends the administration deserves credit for recent gains in areas battered by past job losses.
Category: Tax Cuts and Jobs Act (2017)
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What’s in the New Tax Deal?
Budget watchdogs warn that temporary changes to the tax code that are being debated on Capitol Hill will lead to more deficits in the long run.
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Justices Seem Skeptical of Challenge to Trump-Era Tax Provision
The Supreme Court’s liberal wing and more moderate conservatives seemed to be searching for a way toward a limited ruling on a tax law that affects foreign profits of American companies.
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How a Legal Fight Over a $15,000 Tax Bill Could Upend the U.S. Tax Code
The Supreme Court ruling in the Moore case could cost the federal government billions of dollars in lost tax revenue.
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Treasury Report Shows $1.7 Trillion Deficit
The widening gap between what the government spends and what it earns comes as Congress continues to spar over the proper levels of federal spending.
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The Federal Deficit Is Growing. This Is Why.
Tax receipts dipped unexpectedly last year. The Biden administration blames Republican tax cuts, but the truth is more complicated.
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Higher Rates Stoke a Growing Chorus of Deficit Concerns
A long period of higher interest rates would make the government’s large debt pile costly, a possibility that is fueling a conversation about debt sustainability.
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Federal Reserve Officials See Rates Staying High
Federal Reserve officials forecast higher interest rates through 2026 this week, a sign that borrowing costs are not heading back to the rock-bottom levels normal before the pandemic.
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America Set to Hit Its Borrowing Limit Today, Raising Economic Fears
The New York Times – Business:The milestone will not immediately affect markets or growth, but it sets the stage for months of entrenched partisan warfare.
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Trump Tax Returns Undermine His Image as a Successful Entrepreneur
The New York Times – Business:The release of former President Donald J. Trump’s private tax documents by the House Ways and Means Committee shows heavy losses from his own ventures as he continued to cash in on inherited assets.
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Republicans Denounce Inflation, but Few Economists Expect Their Plans to Help
The New York Times – Business:Proposed tax and spending cuts by the G.O.P., which is making a push to take back Congress, are unlikely to bring down rapidly rising prices any time soon.
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IRS Releases Inflation-Adjusted Tax Rates for 2023
The New York Times – Business:Filers whose salaries have not kept pace with inflation could see savings on their federal income tax bills.