Taxes
  • Trump on the $22 Trillion National Debt: 'Growth Will Straighten It Out'

    By Michael Rainey

    President Trump was asked at his wide-ranging press conference Friday about the roughly $2 trillion increase in public debt during the first two years of his administration: Question: Let me also ask...

  • 		<p>Limit itemized deductions to 15 percent, with special provisions to maintain incentives for charitable giving.</p>    <p>      <strong>Broader benefits to U.S. economy</strong>      <br />Raises revenue more efficiently by reducing tax expenditures;

    Poll of the Day: Democrats and Taxes

    By The Fiscal Times Staff

    Democrats and Republicans receive roughly equal grades when it comes to the question of which party is best suited to handle taxes, according to an analysis by Navigator , a polling and research...

  • Amazon unveils effort to develop original TV shows

    Amazon Pulls the Plug on NYC Headquarters

    By Michael Rainey

    Amazon is canceling its plan to build a corporate campus in New York City, the company announced Thursday. The decision comes following months of local criticism of the project, in which the company...

  • The Great Debt Debate: How Dangerous Is It?

    By Michael Rainey

    MIT economist Olivier Blanchard caused a stir in fiscal circles last month with an academic paper suggesting that current levels of public debt may be less worrisome than many experts think (see our...

  • Eighty-four percent of Americans receiving refunds intend to pay down debt, save or invest.

    Why Smaller Tax Refunds Could Ding the Economy

    By Michael Rainey

    Although tax season has only just begun, early data from the IRS shows that the average individual tax refund is 8.4 percent smaller so far this year. Some critics have been quick to blame the...

  • States See Record Tax Revenues

    By Michael Rainey

    State tax revenues topped $1 trillion for the first time in the 2018 fiscal year, according to a preliminary analysis by the Urban-Brookings Tax Policy Center. Much of the growth in revenues during...

  • U.S. Treasury Secretary Steven Mnuchin in Washington, U.S., May 23, 2017. REUTERS/Jim Bourg

    Whatever Happened to That 10% Middle-Class Tax Cut?

    By Michael Rainey

    Shortly before the midterm elections, President Trump said his administration was working on a tax cut for middle class. “We are going to be putting in and are studying very deeply right now, around...

  • President Donald Trump and House Ways and Means Committee Chairman Kevin Brady smile at each other after the U.S. Congress passed sweeping tax overhaul legislation, on the South Lawn of the White House in Washington

    The Tax Bill One Year Later

    By Michael Rainey

    As the Republican tax bill approaches its one-year anniversary, numerous scholars and critics are taking a look at its performance so far. Here are some highlights from recent reviews: Fiscal policy...

  • FILE PHOTO: House Minority Leader Nancy Pelosi speaks during a rally against the Republican tax bill on Capitol Hill in Washington, U.S., November 15, 2017. REUTERS/Aaron P. Bernstein

    Democrats Prepare to Direct Fire at the GOP Tax Bill

    By Michael Rainey

    Democrats take control of the House on January 3 and are already planning their attack on the year-old Republican tax bill. Rep. Richard Neal (D-MA), incoming chair of the tax-writing House Ways and...

  • Tax Bill Creates a Divorce Rush

    By The Fiscal Times Staff

    Divorce lawyers are keeping plenty busy as the year winds down, thanks in part to the Republican tax bill. The Hill’s Naomi Jagoda explains: “The 2017 GOP tax overhaul eliminates the deduction for...

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