Unlike many other pro-growth tax reform provisions, the corporate tax rate isn’t set to expire at the end of 2025, but some policymakers and President Biden have proposed increasing it. The NAM recently talked to Rep. Carol Miller (R-WV), the head of the House Ways and Means Committee’s Supply Chain Tax Team, about how raising … Read more
The outcome of the upcoming presidential election may significantly affect the changes in federal income taxes on businesses that will be made during the next presidential term of office. The next president’s success in passing specific legislation will depend enormously on the makeup of the next Congress. On November 5, 2024, in addition to the … Read more
Cyprus fully supports the joint effort by the United States, Egypt and Qatar to get both sides of the war in Gaza to meet next week and resume talks on a ceasefire and release of hostages. President Nikos Christodoulides stated on Friday that he, “fully endorses (the statement by) Presidents Joe Biden, Abdel Fattah el-Sisi … Read more
This is a guest column from Matt Silasiri, the Marketing & Business Development Manager at Sunbelt Business Advisors.President Biden bowed out of the 2024 Presidential race. But the clock is still ticking on the Trump-era tax cuts. And President Biden’s proposed budget, including substantial tax increases, is still in play.Business owners who are considering a business exit in the … Read more
In selecting Governor Tim Walz (D-Minn.) to be her vice presidential nominee this November, Kamala Harris chose a running mate whose record on tax policy is more in line with her own than that of the other reported finalist, Governor Josh Shapiro (D-Penn.). Governor Walz, like Vice President Harris, has a well documented history of … Read more
Since Vice President Kamala Harris became the presumptive Democratic nominee for the 2024 presidential election, there is interest in how her potential administration might handle tax policy — particularly aspects impacting families and children. One area receiving attention is the child tax credit (CTC), an important financial benefit for many families. For the 2024 tax … Read more
This blog post was updated on August 2, 2024, to clarify that the Inflation Reduction Act was adopted in 2022. It is too soon to know the details of presumptive Democratic presidential nominee Kamala Harris’s 2024 tax agenda. But her record as a US senator and her short-lived 2020 presidential candidacy shows that she has … Read more
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
Even with control of the White House and Congress up in the air, lawmakers and lobbyists are gearing up for a big debate next year over expiring measures in former President Donald Trump’s tax law. President Biden’s decision not to seek re-election is upending expectations about who will control Washington next year. But there is … Read more
Gov. Josh Shapiro of Pennsylvania, who is one of several Democrats in consideration to become Vice President Kamala Harris’s running mate, expressed on Tuesday his opposition to the proposed takeover of U.S. Steel by Japan’s Nippon Steel, citing his reservations about its potential impact on workers in his state.Mr. Shapiro’s comments came during an event … Read more