The Congressional Budget Office forecasts that annual deficits will top $21 trillion over the next decade.
Category: Taxation
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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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What Scott Bessent, Trump’s Treasury Pick, Might Get Asked Today
Scott Bessent, a billionaire hedge fund manager, will likely face tough questions on tax cuts and tariffs — and how bond markets might check his economic agenda.
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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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The Economy Is Finally Stable. Is That About to Change?
President-elect Donald J. Trump’s proposals on tariffs, immigration, taxes and deregulation may have far-reaching and contradictory effects, adding uncertainty to forecasts.
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Trump Picks Former Representative Billy Long to Lead I.R.S.
Billy Long served six terms as a representative from Missouri. Since then, he has helped businesses claim a pandemic-era tax credit that has been riddled with fraud and cost the government billions more than anticipated.
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Can Wall Street Billionaires Deliver on Trump’s Blue-Collar Promise?
The president-elect has named wealthy financiers for key economic positions, raising questions about how much they will follow through on promises to help the working class.
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California Governor Proposes $750 Million in Annual Film Tax Credits
Gov. Gavin Newsom wants to more than double the amount the state offers in incentives, which would make its program one of the nation’s most generous.
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California Tribal Casinos May Sue to Curb City Card Rooms
A new state law allows tribes to file suit against gambling venues they don’t operate, potentially shuttering them and jeopardizing local tax revenue.
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Trump Tests Republican Appetite for Tax Cuts
Former President Donald J. Trump’s costly tax agenda undermines the changes he signed into law in 2017. Some Republicans are wary.