tax increase

Corporate Taxes And Public Transportation: Debate Rages In New Jersey

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Corporate Taxes And Public Transportation: Debate Rages In New Jersey

New Jersey is considering raising taxes on businesses that earn more than million per year to create a dedicated funding source for NJ Transit, which is facing a financial shortfall. Business lobbyist groups are pushing against the proposal, arguing that it could lead to companies leaving the state or making investments elsewhere. Advocates for the tax increase argue that it would only apply to the top 1 percent of corporate filers and that these companies have benefited from tax cuts in the past.

EDITORIAL: Biden tax plan would pummel average Americans

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EDITORIAL: Biden tax plan would pummel average Americans

President Joe Biden’s 2025 budget blueprint includes plans to increase corporate taxes, which could ultimately cost low- and middle-income Americans more money than if their income tax rates were raised. This plan, straight out of the Bernie Sanders handbook, aims to go after corporations but could have negative effects on consumers, employees, and investors. The budget also includes record spending and soaring debt, despite promises not to increase taxes on those earning less than 0,000 a year.

Murphy wants corporate tax to help NJ Transit, but business leaders say raise sales tax

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Murphy wants corporate tax to help NJ Transit, but business leaders say raise sales tax

NJ Transit’s board approved a fare increase of 15% on July 1 and 3% every year after that.

The year 2025 is the ‘Super Bowl of tax,’ says Rep. Blake Moore. Will your taxes go up?

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The year 2025 is the 'Super Bowl of tax,' says Rep. Blake Moore. Will your taxes go up?

In 2020, Rep. Blake Moore visited Nucor, a steel and recycling manufacturing plant in northern Utah, where he learned about the positive impact of the Trump-era Tax Cuts and Jobs Act of 2017 on the business. The tax cuts led to real wage growth and reinvestment in the community, such as Nucor buying ambulances for the local community. Moore believes that low corporate taxes benefit everyone and is pushing to increase deductions for small businesses. He anticipates that significant changes in tax policy may occur in 2025, depending on the outcome of elections and government control.

Trump’s Unfounded ‘Colossal’ Tax Hike Warning – FactCheck.org

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Trump's Unfounded 'Colossal' Tax Hike Warning - FactCheck.org

Former President Donald Trump went on Truth Social on tax filing deadline day to warn that if President Joe Biden is reelected, there will be colossal tax hikes. However, Biden’s latest budget proposal supports extending tax cuts for individuals making less than 0,000.

Freeland’s new federal budget hikes taxes on the rich to cover billions in new spending | CBC News

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Freeland's new federal budget hikes taxes on the rich to cover billions in new spending | CBC News

Fact: Ottawa plans to spend .9 billion more than planned over the next five years, with a projected billion deficit this fiscal year.

Opinion: N.J. corporations are paying well beyond their ‘fair share’ – New Jersey Globe

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Opinion: N.J. corporations are paying well beyond their ‘fair share’ - New Jersey Globe

The text is an opinion piece criticizing progressive groups for targeting corporations without providing factual context. The fact mentioned in the text is that New Jersey businesses paid .1 billion in state and local taxes in FY22, which is the highest corporate tax rate and property taxes in the nation.

Alberta businesses balk at feds’ capital gains tax increase but pleased with several new programs

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Alberta businesses balk at feds’ capital gains tax increase but pleased with several new programs

The text discusses the negative impact of new tax increases on capital gains announced in the 2024 federal budget. Deborah Yedlin, president of the Calgary Chamber of Commerce, expressed concerns that the tax increase would disincentivize capital formation for individuals and corporations.

Ottawa moves to raise inclusion rate on capital gains taxes in 2024 budget – BNN Bloomberg

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Ottawa moves to raise inclusion rate on capital gains taxes in 2024 budget - BNN Bloomberg

The federal government announced intentions to raise the inclusion rate on capital gains taxes for corporations and individuals earning beyond a certain threshold, which will impact wealthy individuals who are benefiting from tax advantages not available to middle class Canadians, according to the Budget 2024.

New Jersey Governor Phil Murphy Betrays No Tax Increase Promise, Returns to Tax-and-Spend Ways – Americans for Tax Reform

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New Jersey Governor Phil Murphy Betrays No Tax Increase Promise, Returns to Tax-and-Spend Ways - Americans for Tax Reform

New Jersey Governor Phil Murphy’s budget proposal includes record spending and a return to pushing tax hikes. The proposal also involves reinstating a corporate tax surcharge, implementing a truck traffic excise fee, and diverting funds from a debt relief account. Despite promises not to raise taxes, the governor’s budget would still face a structural deficit. Governor Murphy’s first term also featured growing budgets and annual tax hikes.