Category: Tax

Democrats: a Trumpcarea is a a tax break for the richa

Sen. Chris Van Hollen and Senate Minority Leader Charles E. Schumer head for a news conference with people who may be negatively affected by the proposed American Health Care Act, the Republicans’ attempt to repeal and replace Obamacare, outside the U.S. Capitol. March 9. Democrats, who’ve struggled for a way to separate President Trump from the voters who powered his upset victory, believe they’ve found one with the American Health Care Act.

How a tax-cut bill met its demise at the Arizona Legislature

How a tax-cut bill met its demise at the Arizona Legislature Members in Arizona’s Republican-controlled House did something unusual on Thursday: They killed a major tax break. Check out this story on azcentral.com: http://azc.cc/2lswPZU Arizona lawmakers killed a bill designed to keep Arizona competitive in the race for manufacturing businesses, citing a host of objections.

In search of a grand bargain: Ways to bridge budget gap

As Oklahoma’s 2017 legislative session enters its fourth week, one thing is abundantly clear: Republicans, Democrats and Gov. Mary Fallin are nowhere close to a budget deal. The Legislature and governor’s office have until the end of May to sign off on a plan that closes an $878 million budget shortfall for the upcoming year.

5 things analysts and investors want to hear in Trump speech

Economists and investors will be looking for one thing above all from President Donald Trump’s speech to the nation Tuesday night: What will his promised tax cuts look like? Which Obama-era regulations will be reversed? Will he push for an infrastructure spending plan this year? Trump’s broad campaign promises to sharply cut taxes, reduce red tape and boost spending on infrastructure have helped lift the stock market to record highs. Yet without some further guidance on specific plans, investors might grow impatient.

GOP Tax Plans Could Eliminate Popular Tax Breaks

When Republicans say they want to lower taxes and get rid of loopholes to make up the lost revenue, they’re talking about eliminating some very popular tax breaks enjoyed by millions of people. That’s why making big changes to tax laws is so hard – and why it hasn’t been done for 30 years.

UNC to reveal FATCA position

The Opposition United National Congress intends to meet in caucus to take a final decision on its position on the Foreign Accounts Tax Compliance Act ahead to today’s meeting of the Lower House of Parliament to discuss the report of the Joint Select Committee on FATCA. Political leader of the United National Congress, Opposition leader Kamla Persad-Bissessar told the T&T Guardian that the party had taken no final decision on what its position would be regarding the Tax Information Exchange Agreements Bill.

Even If You Expect Obamacare To Be Repealed, Don’t Skip Paying Tax Penalty Now

As Republicans move to overhaul the health law, should people bother paying the penalty for not having health insurance when they file their taxes this year? Or will they be able to sign up on the exchange for 2018 after their COBRA benefits end? I didn’t have health insurance for part of last year and thought I’d get stuck paying a penalty. Now the new administration is talking about not enforcing the insurance requirement.

TERRELL: Questions we should ponder

The national events of the past several months have left us with a number of questions we should ponder. If what we have seen in the past several months, and especially the past two weeks, is the face of the Democratic Party, why would any reasonable person want to be a member of that political party? From the trash-talking and vulgar language to open threats and actual incidents of civil disobedience and violence, we may be seeing the party revert to its days of the 40s, 50s and 60s.

Elections Have Tax Consequencesby Kevin D. WilliamsonIf you have…

If you can’t – well, the view from Santa Monica is very different from the view from is very different from the view from Elmira in upstate New York. Progressivism in the United States used to be a school of political action, but today it is mainly a highly refined lifestyle – one that Republicans may be on the verge of making a little more expensive.

Is Cuomo going to abandon New York taxpayers? :0

Halfway through his second term as New York’s chief executive, Gov. Cuomo could be approaching a fiscal turning point. Cuomo’s six-year budget record has mixed tax cuts and tax hikes, shrewd economizing and outright waste, sound financial practices and objectionable gimmicks.

Trump offers scattershot response to global protests

President Donald Trump on Sunday offered a scattershot response to the sweeping post-inauguration protests against his new administration, sarcastically undermining the public opposition and then defending demonstrators’ rights a short time later. “Watched protests yesterday but was under the impression that we just had an election! Why didn’t these people vote? Celebs hurt cause badly,” tweeted Trump, at 7:51 a.m. on Sunday.

Repeal of Obamacare without a replacement would increase US debt

Here is the problem Republicans face with their opposition to the 2010 health-care law signed by President Barack Obama: Getting rid of it without approving a substitute would increase the federal debt, provide wealthy people with a tax cut and cause as many as 20 million Americans to lose their health care. Although Vice President Mike Pence told CNN last week that “step one is to repeal the taxes and the mandates” in the law known as Obamacare and “at the same time pass a replacement bill,” neither he nor congressional Republicans have provided specifics of a plan.

What we learned about Trump’s tax plans from Mnuchin

Lawmakers and taxpayers looking for clarity about President-elect Trump’s tax plans from Steven Mnuchin’s confirmation hearing Thursday were probably let down. The treasury secretary nominee offered some details about plans for tax reform and border taxes, but in most cases they differ in some significant ways from what Trump has said.

Analysis: Tax cut push comes as budget projected to tighten

After commanding the legislative agenda for six years, Republicans say now is the time to finally enact a major tax cut for Michigan residents. GOP lawmakers pushing to gradually repeal the 4.25 percent personal income tax will confront some stark realities – namely, future budget pressures created by the Legislature itself.

Personalized IRS letters nudge uninsured to get coverage

If you haven’t signed up for health insurance, you may soon be getting a not-too-subtle nudge from the taxman. The IRS is sending personalized letters to millions of taxpayers who might be uninsured, reminding them that they could be on the hook for hundreds of dollars in fines under the federal health care law if they don’t sign up soon.

Vern Buchanan to head Ways and Means investigative subcommittee

The watchdog panel has investigative authority over issues like health care, the IRS, taxes, Social Security and Medicare, which all fall under the full committee’s jurisdiction. “I look forward to chairing this important watchdog panel that will monitor government’s largest federal agencies and programs,” Buchanan said in a statement.

Goldman: Some things you just can’t make up

The first order of business from the power-hungry Republican members of the US House of Representatives in 2017 turned out to be not their pledge to end Obamacare or to defund Planned Parenthood, but instead their first action taken in the dark of night on January 2 was to gut their own long-standing independent ethics oversight panel! During the 2016 presidential campaign, Donald Trump announced that he had a ‘secret plan’ which would “end the violence in Chicago within 5 days of his taking office”.

Friends in high places: Asa edition

WELL CONNECTED: Political consultant Jon Gilmore, leading a fund-raiser for former boss Asa Hutchinson, uses this photo on his private business page to tout his connectyions to the state’s top politician. Arkansas Gov. Asa Hutchinson , getting out ahead of the legislative session – when campaign fund-raising has an even more fraught appearance than normal – is throwing a fund-raiser for his 2018 gubernatorial campaign Thursday at the Capital Hotel.

Final step of Indiana income tax cut effective Jan. 1

Indiana’s personal income tax rate will drop slightly beginning New Year’s Day, completing a phased-in reduction that’s half of the 10 percent cut Republican Gov. Mike Pence pushed during his 2012 campaign. The state income tax rate will become 3.23 percent for 2017, down from the 3.3 percent rate that’s been in place the past two years.

GOP plans to cut tax rates and brackets

Congressional Republicans are planning to simplify a complicated tax code that rewards wealthy people with smart accountants, as well as corporations that can easily shift profits and jobs overseas. Overhauling the nation’s tax system is a heavy political lift that could ultimately affect families at every income level and businesses of every size.

Assessing the GOP’s tax system overhaul

Congressional Republicans are planning a massive overhaul of the nation’s tax system next year, a heavy political lift that could ultimately affect families at every income level and businesses of every size. Their goal is to simplify a complicated tax code that rewards wealthy people with smart accountants, and corporations that can easily shift profits – and jobs – overseas.