Budget Battles
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House Republicans Pass Defense Bill Packed with Culture War Policies
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Trump Promises CEOs Another Tax Cut
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Price Hikes Ease in May, Raising Hopes in Battle on Inflation
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Surprisingly Strong US Economy Is Powering Global Growth: World Bank
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White House Slams Republican Tax Cut Plans
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Blockbuster Jobs Report Sends Mixed Message to the Fed
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Trump Tax Cut Extension Won't Pay for Itself: Analysis
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Trump Tax Policies Would Produce ‘Mother of All Stagflations’: Larry Summers
By Michael RaineySpeaking on Bloomberg TV Friday, former Treasury Secretary and noted inflation hawk Larry Summers blasted the tax proposals being discussed by former President Donald Trump, which include more tax...
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Trump Promises CEOs He’ll Cut the Corporate Tax Rate Again
Former President Donald Trump huddled with congressional Republicans Thursday in his first visit to Capitol Hill since the partisan violence of January 6, 2021. Then he reportedly promised a Business...
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Trump Proposal Would Cut Taxes by $48 Billion for 100 Largest Companies: Analysis
The 100 largest U.S. companies, with profits of more than $1.1 trillion, would see their taxes fall by $48 billion a year under a proposal by former President Donald Trump to cut the corporate tax...
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Republicans Planning New Tax Cuts in 2025
By Michael RaineyRepublican lawmakers say they will push to extend the 2017 tax cuts for individuals set to expire at the end of next year, laying the groundwork for what is expected to be a major battle over fiscal...
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Trump Tax Cut Extension Won't Pay for Itself: Analysis
By Michael RaineyAlthough some of the more enthusiastic true believers continue to insist that tax cuts pay for themselves through higher growth, the economic data has long proved otherwise. As policymakers gear up...
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House Republicans Preparing Tax Cut Plans for Early 2025
House Republicans are reportedly already constructing plans to extend the 2017 tax cuts via a budget reconciliation bill in the first 100 days of a potential second Trump administration. The budget...
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IRS Making Free Tax Filing Program Permanent
By Michael RaineyThe Treasury Department announced Thursday that Direct File, the free tax filing system being tested by the IRS, will be made permanent and open to eligible residents in all 50 states starting in...
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Trump Woos Wealthy Donors With Promises of Huge Tax Cuts
By Michael RaineyFormer President Donald Trump has been busy with his criminal trial in Manhattan over the past few weeks, but he has still found the time to meet with donors in his quest to return to the White House...
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100+ Unions and Public Interest Groups Call for Major Tax Overhaul
A coalition of more than 100 unions, advocacy groups and think tanks wrote to congressional leaders Tuesday urging them to use the upcoming expiration of some 2017 Trump tax cuts to make the tax code...
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Yellen Rejects Global Billionaire Tax
By Michael RaineyTreasury Secretary Janet Yellen said the U.S. does not support a proposal for a global tax on billionaires. The idea has been floated by Brazil, which is leading the G20 group of major economies this...
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Poll Finds Liberals and Conservatives Agree: Tax the Super-Rich
By Michael RaineyPresident Joe Biden has proposed a number of tax hikes on wealthy households and corporations, and it looks like some of his proposals — including a 25% minimum tax on billionaires — could win...
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Biden Has Cut Taxes Overall: Analysis
By Michael RaineyPresident Biden has called for raising taxes on corporations and the wealthy, but according to a new analysis by the Urban-Brookings Tax Policy Center, he has been a net tax cutter so far. In an...
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IRS Commissioner Calls for Thousands of More Employees
By Michael RaineyIRS Commissioner Danny Werfel said Monday that the tax agency needs to increase its overall employment level by about 10,000 employees to be fully effective. “We're at 90,000 now,” he told students...
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Biden Proposes a $7.3 Trillion Budget for 2025
President Biden on Monday proposed a $7.3 trillion budget for fiscal year 2025 that seeks to lower the costs of prescription drugs, child care and housing while also cutting the deficit by $3...
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Biden’s SOTU Pitch: Tax the Rich and Businesses
By Michael RaineyPresident Joe Biden will deliver his State of the Union address to Congress this evening, and some political analysts are calling it the most important moment in his decades-long political career...