republican

State Rundown 3/28: Tax Cut Madness, But Our Brackets Bet on Tax Fairness

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State Rundown 3/28: Tax Cut Madness, But Our Brackets Bet on Tax Fairness

– Several high-profile, regressive tax cuts are making their way through state legislatures in Kansas, Missouri, Nebraska, and Vermont.
– In Kansas, the House passed cuts to income, sales, and property taxes, with more than half of the benefits flowing to the state’s top 20 percent of earners.
– Missouri’s House passed a bill to fully eliminate the state’s corporate income tax by 2028, despite its 0 million annual revenue loss.
– Nebraska lawmakers are considering raising the state’s sales tax to fund property tax cuts.
– Vermont’s House Ways and Means Committee approved bills to generate 0 million by taxing wealthy households and corporations.

Viewpoint: Taxes, taxes, taxes

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Viewpoint: Taxes, taxes, taxes

Fact: Due to the 2017 Trump/GOP tax legislation, 35 large, wealthy corporations paid less in taxes than they paid to their top 5 executives while receiving federal tax refunds of nearly billion.

Tennessee lawmakers split on how and why to give businesses major tax help under fear of lawsuit

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Tennessee lawmakers split on how and why to give businesses major tax help under fear of lawsuit

Republicans in the Tennessee House and Senate are planning to offer businesses new tax help worth over billion. The Senate has passed a proposal that includes .56 billion in one-time refunds for potentially 100,000 businesses and 3 million in annual tax breaks. The House has presented a version that limits tax refunds to 0 million, requires public disclosure of businesses receiving refunds, and sets limits on suing. The debate is complicated by Tennessee’s financial situation and concerns that the state’s franchise tax may violate the U.S. Constitution’s Commerce Clause.

President Biden’s Budget Will Raise Taxes and Federal Debt

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President Biden's Budget Will Raise Taxes and Federal Debt

President Biden has released his fiscal year 2025 budget request, which includes massive tax hikes and harmful healthcare policies. The budget proposal increases taxes by .5 trillion and includes raising the corporate tax rate and implementing a global minimum tax for multinational corporations. The budget also expands on harmful healthcare policies and seeks to restore funding to the IRS. The budget projects that the federal deficit will continue to grow, reaching trillion by 2034. Interest on the debt will exceed defense spending beginning in FY 2025. The President’s budget would hurt taxpayers and the economy, and Congress should reject it in favor of a fiscally responsible budget.

Haley voters, Trump doesn, ’t want you, new Biden ad says

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Haley voters, Trump doesn, ’t want you, new Biden ad says

President Joe Biden’s reelection campaign is reaching out to supporters of former Republican presidential candidate Nikki Haley, who was a major opponent to Donald Trump before withdrawing from the race. Biden stated in a social media post that there is a place for Haley voters in his campaign, highlighting Trump’s negative comments about Haley. Over 570,000 voters in key battleground states supported Haley in the Republican nominating contest, and many are questioning their place in the Republican Party that has rallied around Trump. Biden is facing concerns about his age and approval ratings ahead of the upcoming election.

Protesters interrupt Biden, Obama, Clinton at $25 million New York fundraiser

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Protesters interrupt Biden, Obama, Clinton at $25 million New York fundraiser

President Joe Biden and former President Barack Obama, along with Bill Clinton, headlined a fundraiser in New York that raised over million for Biden’s reelection campaign. The event was interrupted by protesters criticizing Biden’s support for Israel in the Gaza crisis. Obama and Clinton defended Biden’s handling of the crisis and the economy. The event also featured performances by musicians and high-paying attendees had their pictures taken with the presidents. Trump, Biden’s Republican challenger, attended a wake for a slain police officer in Long Island. Biden has been outraising Trump in campaign donations.

Tax Day Injustice

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Tax Day Injustice

– A new report titled “More for Them, Less for Us: Corporations That Pay Their Executives More Than Uncle Sam” highlights how large corporate CEO pay packages rival corporate taxes.
– The report examined the five-year period of 2018 to 2022 and identified 35 companies that paid their top executives more than they paid the federal government.
– This situation was made possible by deep cuts to corporate tax rates implemented in the Republican-led 2017 American Tax Cuts and Jobs Act.

Zelenskiy tells U.S. House speaker: quick passage of military aid is vital

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Zelenskiy tells U.S. House speaker: quick passage of military aid is vital

President Volodymyr Zelenskiy urged the U.S. House of Representatives to pass a new military aid package for Ukraine quickly. Republican Speaker Mike Johnson has delayed a bill that would provide billion in military and financial aid for Ukraine. Ukrainian troops are facing shortages of artillery supplies as aid is held up in Congress.

EXPLAINER-Turkey’s local vote a test for Erdogan and his main rival Imamoglu

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EXPLAINER-Turkey’s local vote a test for Erdogan and his main rival Imamoglu

Turkey is holding municipal elections across 81 provinces on Sunday, March 31. President Tayyip Erdogan’s AK Party is aiming to reclaim cities it lost in 2019, including Istanbul and Ankara. Polling stations will be open from 7 a.m. to 4 p.m. in eastern provinces and from 8 a.m. to 5 p.m. in the rest of the country. Initial results are expected by 10 p.m. Analysts see the vote as a gauge of Erdogan’s support and the opposition’s durability, especially in Istanbul. The budget of Istanbul metropolitan municipality is significantly larger than other cities in the country. Controlling big cities can give parties influence over financing and job creation. Istanbul holds special importance for Erdogan as he rose to the national political stage during his time as mayor. Imamoglu, the incumbent CHP Mayor of Istanbul, is facing a tight race against AKP’s Murat Kurum. The outcome of the elections could impact Erdogan’s pursuit of a new constitution that could potentially extend his rule beyond 2028.