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President Donald Trump's tax law boosted take-home pay for about 90% of Americans. Here's what people who earn $75,000 bring home.
President Donald Trump's promise of a second tax cut aimed at the middle class is quickly unraveling, since getting such a bill passed before the midterm elections in November would be practically impossible.
Republicans claimed that the new Tax Cuts and Jobs Act would pay for itself or even decrease the federal deficit. But based on new numbers from the Treasury Department, that doesn't appear to be happening.
The US budget deficit ballooned to $779 billion this year, the highest since 2012, driven by Trump’s tax law and the massive budget deal
The budget deficit for fiscal year 2018 hit $779 billion, according to the Treasury Department, up 17% from the year before and the widest since 2012. The deficit increase was driven by the GOP tax law and a bipartisan spending agreement.
Gary Cohn confirmed on Monday that President Donald Trump wanted to raise the top marginal tax rate to 44%, during an event in New York, confirming a detail in Bob Woodward's new book "Fear: Trump in the White House." Cohn declined to answer more questions about Woodward's book.
Trump is canceling pay raises for federal workers because it would cost the government $25 billion next year. The GOP tax law is going to cost the gov...
President Donald Trump froze federal civilian pay increases for 2019 because of "our Nation's fiscal situation." The $25 billion price tag, Trump said, was too high. At the same time, the GOP tax law is expected to increase the federal deficit by $190 billion next year.
President Donald Trump wants to index capital-gains taxes to inflation, a move that would result in a $100 billion tax cut over the next 10 years. Advocates say it would help boost economic growth, but an analysis by the Congressional Research Service shows that not to be the case.
Trump’s idea for a $100 billion tax cut that would give 97% of its benefit to the wealthy is legally dubious
President Donald Trump wants to index capital gains to inflation, which would cut about $100 billion from taxes over a decade, by adjusting Treasury Department regulations. The only problem is that such a move may be illegal.
Trump is reportedly considering going around Congress for a massive tax cut that would mostly benefit wealthier Americans
President Donald Trump is said to be considering a plan that would index capital-gains taxes to inflation, effectively resulting in a $100 billion tax cut. According to independent analysis, more than 97% of the boost would go to the top 10% of income earners.
Republicans want to try and pass a second tax bill before the midterms to force Democrats to make a hard choice on whether to give the GOP a political victory.