Taxes

Government Has Been a Drag on the Economy – but That’s About to Change

By Yuval Rosenberg

The U.S. economy is about a year away from breaking the 1990s record for the longest expansion in U.S. history — and yet the recovery from the Great Recession has also been among the weakest growth...
Senate Republicans on the Push for Tax Cuts 2.0: Meh

By Yuval Rosenberg

House Republicans are forging ahead with plans for another round of tax cuts this year. Senate Republicans say they’ve got other things to deal with, The Wall Street Journal’s Richard Rubin reports...
A Warning About the Next Economic Crisis from Leaders Who Battled the Last One

By Yuval Rosenberg

Three top officials who helped steer the U.S. through the financial crisis a decade ago warned Tuesday that, while the banking system has clearly been strengthened, policymakers might find it harder...
Kevin Brady: We’re On Track for Tax Cuts 2.0

By Michael Rainey

Republicans plan to vote on a second round of tax cuts in September, House Ways and Means Committee Chairman Kevin Brady (R-TX) told Fox Business Network’s Maria Bartiromo Wednesday morning. Brady...
GOP Tax Cuts Aren’t Boosting Wages

By Michael Rainey

Inflation-adjusted wages have fallen for three straight quarters on a year-over-year basis, according to data released by the Labor Department Tuesday. MarketWatch’s Steve Goldstein provided a chart...

Kudlow: Tax Cuts 2.0, 3.0 and 4.0 May Be Coming

By Yuval Rosenberg

Larry Kudlow, director of President Trump’s National Economic Council, sat down for a wide-ranging interview with CNBC’s Jim Cramer Wednesday morning in New York. Kudlow made headlines last month by...
The White House Makes a ‘Trillion-Dollar Admission’

By Yuval Rosenberg

The White House Office of Management and Budget on Friday released its updated annual budget request , known as the mid-session review. The numbers don’t mean much given that the president’s budget...
4 Blue States Sue Over GOP Tax Law

By Michael Rainey

Four states sued the federal government Tuesday, claiming that the new $10,000 limit on state and local tax (SALT) deductions is an “unconstitutional assault on states’ sovereign choices.” The suit...
Treasury Rule Change Protects ‘Dark Money’ Donors

By Yuval Rosenberg

The U.S. Treasury said Monday that it will no longer require certain tax-exempt organizations to identify their donors to the IRS. The policy change will free labor unions and other groups, including...
Stock Buybacks Soar to Another Record

By Michael Rainey

U.S. companies announced more than $346 billion in share buybacks in the second quarter of 2018, according to data released by the investment research firm TrimTabs last week, shattering the previous...

Corporate Tax Cuts Don’t Boost Incomes for Majority of Americans: Study

By Michael Rainey

Although Republicans have sold their tax cuts as a sure-fire way to create jobs and boost incomes for middle- and working-class Americans, a recent economic study casts more doubt on that still-...
Government Revenues Drop as Tax Cuts Kick In

By Michael Rainey

Corporate tax receipts in June were 33 percent lower than a year ago, according to data released by the Treasury Department Thursday, as companies made smaller estimated payments due to the reduction...
Your Gym Membership Could Soon Be a Tax Break

By The Fiscal Times Staff

A bipartisan bill passed by the House Ways and Means Committee on Thursday would allow taxpayers to claim new tax breaks for gym memberships, exercise classes and other fitness expenses, The Wall...
Some GOP Senators Want to Slash Gas Taxes — and Federal Highway Spending

By Michael Rainey

Republican Sens. Mike Lee, Marco Rubio and Ted Cruz introduced a bill Tuesday that would dramatically reduce federal involvement in transportation systems in the U.S. The Transportation Empowerment...
The Steep Costs of Tax Cuts Since 2001

By Michael Rainey

Tax cuts enacted since the turn of the 21 st century have added nearly $6 trillion to the deficit while disproportionately benefiting wealthy households, according to a new study from the Institute...