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Tag: Tax Cuts and Jobs Act

This is why Apple, one of the world’s most cash-rich companies, just sold $7 billion of debt

Cheap money available in the bond market has led several US companies to issue new corporate bonds this week.

Amy Klobuchar’s first 100 days as president would include massive rollbacks of Trump’s policies

The plan promises new initiatives and rolling back Trump policies in key policy areas like immigration, climate change, and the economy.

The GOP tax cuts could help Trump get reelected in 2020, even though most Americans hate them

"I think if you look at all the sentiment measures that matter, they're through the roof," President Donald Trump's adviser Kevin Hassett said.

The GOP tax law gave most Americans a tax cut, but Trump’s signature policy is still a political flop

Few Americans even report getting a tax cut, despite the fact that the Trump tax cuts made it so that 65% of people have a lower tax burden in 2019.
Supporters of republican presidential candidate former Massachusetts Gov. Mitt Romney stand next to a national debt clock during a rally at Exeter High School on January 8, 2012 in Exeter, New Hampshire.

The US posted a $234 billion budget deficit last month, the biggest one-month deficit in history

The budget deficit is being driven by the tax reform law supported by President Trump and the GOP as well as the bipartisan spending deal.
Treasury Secretary Steven Mnuchin, right, shows his wife Louise Linton a sheet of new $1 bills on November 15, 2017.

Treasury Secretary Steven Mnuchin says his tax rate actually went up after Trump’s tax cuts — and the reason why makes perfect sense

The cap on the state and local tax deduction has caused wealthy taxpayers in New York and California, like Steve Mnuchin, to pay more this year.
President Donald Trump holds up a chart showing the US national debt during a campaign rally in 2016.

Trump once promised to eliminate the national debt in 8 years — but his new budget shows the president is going in the opposite direction

Candidate Donald Trump promised to eliminate the debt "over a period of eight years," but the presidential budget shows that isn't going to happen.
A fan holds an American flag as paper falls from buildings above during the ticker tape parade for the U.S. women's soccer team to celebrate their World Cup final win over Japan, in New York, July 10, 2015.

After weeks of worry, Americans’ tax refunds are finally trending up

After three weeks of data showing the average tax refund was smaller than last year, the IRS announced Thursday that refunds are up 1.3% on average.
The new tax law capped the SALT deduction at $10,000.

11 million Americans could be affected by a big change in Trump’s tax plan, and a CPA says he’s getting frantic calls about it

The new tax law capped the annual deduction for state and local taxes (SALT) at $10,000, which likely affects rich homeowners in blue states the most.
President Donald Trump.

Even after getting his tax cuts, Trump still couldn’t deliver on his biggest economic promise

President Donald Trump fell short of his long-promised goal of 3% GDP growth in 2018, and economists expect he'll be disappointed in 2019 too.