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More than 76 million Americans don’t pay federal income taxes, but it’s not usually the luxury you might think
Some Americans don't owe income taxes because their earnings are too low; the deductions and credits available to them wipe out their tax liability.
House Republicans passed their "Tax Cuts 2.0" package on Friday, which would extend the Tax Cuts and Jobs Act's individual tax cuts. The extension would provide a small boost to the economy and mainly favor wealthier Americans. The bill is also likely dead on arrival in the Senate.
Republicans want to make the individual tax cuts permanent — or at least score a political win in the process
Republicans are preparing to bring up a vote that would make the income tax rate reductions for individuals and families that were slated to sunset in five years as part of the new tax law permanent, attempting to create a win-win scenario that could be politically lucrative.
A new analysis from the Tax Policy Center showed that the gains from the Republican tax reform bill would be concentrated among the richest Americans.
The Tax Policy Center found that the Tax Cuts and Jobs Act would only boost US GDP by 0.7% in 2018, much less than Republicans promised.
Three analyses of the Senate GOP tax bill show that it would increase taxes on many Americans, blow a hole in the federal deficit, and lead to little growth.
A new analysis by the Tax Policy Center shows little economic growth for the recently passed Republican tax bill.
The Tax Policy Center found the most of the benefit from the new bill, named the Tax Cuts and Jobs Act, would go to richer Americans.
The Tax Policy Center retracted its analysis of the Republican tax plan due to an error concerning the interpretation of the additional child tax credit.
Foreign holders of US stocks could see a much bigger boost from Trump's tax plan than middle-income Americans, according toa new analysis.