Sen. Bill Cassidy of Louisiana said he was in the midst of drafting an "alternative" to President Joe Biden's multitrillion-dollar jobs package.
Trump's 2017 tax cuts weren't "rocket fuel" for job growth and productivity like he promised, but CEOs are fighting Biden's hike with similar claims.
Democrats may deficit-spend as Republicans attack Biden's efforts to raise taxes. "His only red line is inaction," Press Secretary Jen Psaki said.
Sen. Roger Wicker says Republicans oppose repealing parts of their 2017 tax law. Biden wants to fund his massive jobs plan with corporate tax hikes.
"I'm actually okay at 28%," Gary Cohn told Yahoo Finance last year. That's exactly the rate Biden wants corporate tax rates to go back to, from 21%.
Manchin argued embarking on reconciliation repeatedly would harm the nation's future. Republicans are united in opposing Biden on infrastructure.
"I don't think our guys are going take the bait on that," one top Senate Republican said as Democrats assemble a massive jobs package.
Trump hasn’t laid out an economic plan for a second term, according to a top GOP economist. “He has no economic plan. I don’t mean that I don’t like it. It doesn’t exist,” Glenn Hubbard, former chair of the Council of Economic Advisors under President George W. Bush, told Bloomberg. […]
Trump pledged a middle-class tax cut in a morning tweetstorm from Walter Reed Medical centre. “BIGGEST TAX CUT EVER, AND ANOTHER ONE COMING,” he wrote on Twitter. “VOTE!” He previously raised a middle-class tax cut before the November 2018 midterms, but he stopped bringing it up once Republicans lost the […]
Joe Biden pledged in a CNN interview to roll back President Donald Trump’s corporate tax cuts on “day one” of his presidency, arguing it wouldn’t hurt businesses’ ability to hire. “So the idea that we take that money and put it into new investments in manufacturing, education, healthcare, these are […]
President Donald Trump’s 2017 tax reforms ended the requirement for many Americans to itemize their charitable donations, and that may be why fewer Americans are giving than ever before. The ultrawealthy have been picking up the slack and keeping donation totals from dropping, despite facing ever-increasing criticism over their charitable […]
Scores of GOP lawmakers made millions off the 2017 Trump tax cuts, a new investigation by the Centre for Public Integrity and Vox found. It sheds light on the lack of guardrails in place that would prevent lawmakers from crafting and passing legislation they stand to benefit from. The law […]
Liberal billionaire investor George Soros warned guests at an informal dinner at the World Economic Forum in Switzerland that the US economy under Trump is headed in a perilous direction. “Trump’s economic team has managed to overheat an already buoyant economy,” Soros said at the elite gathering of business titans […]
National Economic Council Director Larry Kudlow says the White House will release another tax cut plan in the middle of the 2020 election this year, likely in the summer. President Trump’s top legislative achievement remains the 2017 Tax Cuts and Jobs Act, which slashed tax rates for corporations permanently while […]
Two years after passing a massive tax cut for the US’s biggest businesses, Trump has nothing to show for it but a busted-out budget deficit and anemic tax revenue. The undisputed winners here are big corporations. After the cut passed, the number of companies paying zero in taxes has roughly […]
The US tax burden slid to among the lowest for major global economies in 2018. It now sits above just Ireland, Chile, and Mexico, according to a report from an intergovernmental organisation released Thursday. It fell to 24.3% of gross domestic product, the result of President Trump’s 2017 tax cuts […]