Senate Republicans are expected to block legislation Thursday to cut taxes for working families and extend some corporate tax breaks, likely dooming a bipartisan compromise that the House had overwhelmingly approved and raising the stakes on taxes for this fall’s elections.The $79 billion legislation would expand eligibility for the child tax credit, or CTC, among … Read more
The title page reads, “Mandate for Leadership, the Conservative Promise — Project 2025, Presidential Transition Project.” What follows are 920 pages of sweeping changes for the “next conservative president” to put into effect or, if not sufficiently empowered, to recommend to Congress. From abortion to veterans affairs, the anthology of 30 chapters, each by a … Read more
Democrats are forging plans to raise tax rates on companies and wealthy individuals next year if they hold the White House and win control of both houses of Congress, as the party’s leaders increasingly see tax policy as a winning issue on the campaign trail.Senate Finance Committee Democrats met Thursday to discuss President Donald Trump’s … Read more
The Greenbook for Fiscal Year 2025, containing the Biden administration’s budget proposals, contains a mixture of recommendations, many of which have been considered in one form or another in past years. Nevertheless, it lays out the administration’s blueprint for a wish list, and in some cases signals issues to prepare for. “As time has gone on, … Read more
Former President Donald Trump said Thursday during a meeting with top CEOs in Washington, DC, that he wanted to slash the corporate tax rate to 20% — hours after discussing trade and other policies with Republicans on Capitol Hill. The presumptive 2024 Republican nominee held a private meeting with 80 executives to pitch the rate … Read more
House Republicans hoping to extend the 2017 tax cuts are beginning to systematically examine tax provisions in the Democrats’ landmark climate law. Whether those climate provisions will land on the chopping block remains to be seen. On Wednesday, a Ways and Means Committee “tax team” focused on manufacturing and energy will meet for the first … Read more
Director of the National Economic Council Lael Brainard spoke at the White House about the upcoming debate over trillions in expiring tax breaks enacted by former President Donald Trump. Several provisions from the Tax Cuts and Jobs Act of 2017 will expire after 2025 without changes from Congress, including lower federal income tax brackets, a higher standard deduction, and doubled estate and gift tax exemption. The Republicans’ tax package also permanently reduced corporate taxes. Brainard emphasized the need to end tax breaks for the ultra-wealthy and scale back costly corporate tax breaks. The debate over extending the tax breaks comes amid concerns about the national debt. Biden’s administration aims to extend provisions for middle-class Americans funded by raising taxes on the ultra-wealthy and corporations. House Republicans are studying solutions to address the upcoming tax cliff in 2025.
Former U.S. Capitol police officer Harry Dunn and former mob participant Derrick Evans are both running for Congress in Maryland and West Virginia, respectively, after the events of Jan. 6, 2021. Dunn is motivated by his experience defending lawmakers during the attack, while Evans was among the mob that entered the Capitol illegally. Both candidates emphasize the need to defend the U.S. Constitution, but they have different agendas and approaches to politics. Dunn has raised more campaign funds and received endorsements, while Evans focuses on issues like building Trump’s border wall and term limits for Congress members.
The US Senate approved the reauthorization of a controversial surveillance program, narrowly avoiding its midnight expiration.
Fact: Jen Kiggans and House Republicans are accused of planning to rig the tax code to benefit the well-off and well-connected at the expense of middle class families if they maintain the majority.