Editor Brian Harrod Provides Comprehensive up-to-date news coverage, with aggregated news from sources all over the world from the Roundup Newswires Network
President Donald Trump goes Wednesday to Springfield, Missouri to accelerate his administration's push for tax reform, amid ongoing questions as to whether Republicans in Congress can get something done in coming months on the subject, as lawmakers in both parties await the details of a GOP tax plan. "We're committed to passing the first major tax reform in over thirty years," the President said to cheers last week at a rally in Phoenix, Arizona.
The Republican Party's leaders in the United States House of Representatives have been hard at work for more than a year designing a major reform of personal and corporate taxes. With an election looming in 2018, the House Republicans are determined to deliver a reform package and send it to the Senate for enactment.
President Donald Trump launched his fall push to overhaul the nation's tax system by pledging Wednesday that the details-to-come plan would "bring back Main Street" by reducing the crushing tax burden on middle-class Americans, making a populist appeal for a proposal expected to heavily benefit corporate America. Trump said his vision for re-writing the tax system, a key campaign pledge, would unlock stronger economic growth and benefit companies and workers alike.
Rep. Tim Ryan speaks to reporters after the House Democratic leadership elections on Capitol Hill on Nov. 30, 2016. Rep. Tim Ryan , whose aggressive campaigning for local and congressional Democratic candidates has drawn attention this summer, is the star of a new ad from a Republican group - one that recasts him as a supporter of tax reform.
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Every family who lives in state Sen. Bob Duff's district and every business operating in Fairfield County needs to be aware of what their elected state senator just did to threaten their livelihoods last week. The labor contract agreement that just passed and will now become law is another in a long line of sweetheart deals with unions negotiated by Gov. Dannel P. Malloy that has prolonged the fiscal crisis and created the poor economic climate our families and businesses suffer in every day.
The GOP's bid to repeal and replace the Affordable Care Act has crashed and burned about as badly as the imploding Obamacare insurance market, but Republicans seem much more optimistic about the coming effort this fall to reform the U.S tax code. President Trump is ramping up support, and House speaker Paul Ryan this week touted a poll showing the effort has broad public support.
A top income-tax rate of 44 percent for Americans earning more than $5 million per year isn't under consideration, a White House official said Monday, knocking down a proposal said to be backed by top Trump adviser Steve Bannon. "I don't think that that's on the table right now, to be honest with you," White House director of legislative affairs Marc Short said on Fox News.
Republicans on Thursday said they have given up on trying to pass a border adjustment tax. With BAT off the table, retailers [are] ready to advocate for tax reform.
State Senate Republic Leader Bill Brady, left, listens as Gov. Bruce Rauner discusses school funding in the state during a news conference on Monday, July 24, 2017, in Chicago. Rauner reiterated his call on Monday morning for Illinois lawmakers to send him a school funding overhaul by noon, saying he will call a special session this week if it's not on his desk.
The IRS has finally agreed to a process for deciding on the last remaining nonprofit application that was snared in the Obama administration's tea party targeting, more than four years after the illegal singling-out of conservative groups for special scrutiny was first revealed. In court filings this week, the IRS acceded to rules governing how the tax agency will decide whether to grant nonprofit status to the Texas Patriots Tea Party, which has been awaiting a decision for years.
Republican plans for tax reform could be less sweeping than originally envisioned by the White House and GOP leaders in Congress, as a provision in a House GOP budget blueprint would require any tax bill to be 'budget neutral,' which would force lawmakers to offset any tax cuts with revenue increases that could be difficult in some cases to gain approval. Deep in the fine print of the budget resolution for next year, the Republican plan allows for a tax reform bill under budget reconciliation, "if such measure would not increase the deficit for the total of fiscal years 2018 through 2027."
Airbnb Inc. hosts and Etsy Inc. vendors who have avoided taxes on income from the sharing economy might have to start sharing more with the Internal Revenue Service. Federal rules don't require such companies to withhold any income taxes on the payments they route to people who provide services or sell items via their online platforms.
State Rep. Bill Mitchell is one of 16 state representatives being targeted by the Americans for Prosperity-Illinois for voting to override Gov. Bruce Rauner's veto of a 32 percent income tax increase. The AFP-Illinois says it will run online ads and distribute mail pieces, as well as "our grass-roots presence," to hit Mitchell and the others for the tax increase vote earlier this month.
Cynics are said to be people who are prematurely disappointed about the future. Such dyspepsia is encouraged by watching Republicans struggle to move on from the dog's breakfast they have made of health care reform to the mare's nest of tax reform.
The GOP health bills would eliminate the 10 percent tax on the use of tanning beds. It was one of more than a dozen taxes introduced as part of the Affordable Care Act.
Gov. Bruce Rauner implored lawmakers not to override his veto of a proposal to end Illinois' unprecedented budget impasse, calling the plan that includes a large income tax increase a "disaster" that will not solve the state's many financial problems. "This is not just a slap in the face to Illinois taxpayers.
Activists and organizations are calling on taxpayers to contact the 15 Republican state representatives who voted with Democrat IL House Speaker Mike Madigan to increase the personal income tax from 3.75% to 4.9%, and the corporate tax from 5.25% to 7%.