Taxes

A Warning About the Next Economic Crisis from Leaders Who Battled the Last One

By Yuval Rosenberg

Three top officials who helped steer the U.S. through the financial crisis a decade ago warned Tuesday that, while the banking system has clearly been strengthened, policymakers might find it harder...
Kevin Brady: We’re On Track for Tax Cuts 2.0

By Michael Rainey

Republicans plan to vote on a second round of tax cuts in September, House Ways and Means Committee Chairman Kevin Brady (R-TX) told Fox Business Network’s Maria Bartiromo Wednesday morning. Brady...
GOP Tax Cuts Aren’t Boosting Wages

By Michael Rainey

Inflation-adjusted wages have fallen for three straight quarters on a year-over-year basis, according to data released by the Labor Department Tuesday. MarketWatch’s Steve Goldstein provided a chart...
Kudlow: Tax Cuts 2.0, 3.0 and 4.0 May Be Coming

By Yuval Rosenberg

Larry Kudlow, director of President Trump’s National Economic Council, sat down for a wide-ranging interview with CNBC’s Jim Cramer Wednesday morning in New York. Kudlow made headlines last month by...
The White House Makes a ‘Trillion-Dollar Admission’

By Yuval Rosenberg

The White House Office of Management and Budget on Friday released its updated annual budget request , known as the mid-session review. The numbers don’t mean much given that the president’s budget...

4 Blue States Sue Over GOP Tax Law

By Michael Rainey

Four states sued the federal government Tuesday, claiming that the new $10,000 limit on state and local tax (SALT) deductions is an “unconstitutional assault on states’ sovereign choices.” The suit...
Treasury Rule Change Protects ‘Dark Money’ Donors

By Yuval Rosenberg

The U.S. Treasury said Monday that it will no longer require certain tax-exempt organizations to identify their donors to the IRS. The policy change will free labor unions and other groups, including...
Stock Buybacks Soar to Another Record

By Michael Rainey

U.S. companies announced more than $346 billion in share buybacks in the second quarter of 2018, according to data released by the investment research firm TrimTabs last week, shattering the previous...
Corporate Tax Cuts Don’t Boost Incomes for Majority of Americans: Study

By Michael Rainey

Although Republicans have sold their tax cuts as a sure-fire way to create jobs and boost incomes for middle- and working-class Americans, a recent economic study casts more doubt on that still-...
Government Revenues Drop as Tax Cuts Kick In

By Michael Rainey

Corporate tax receipts in June were 33 percent lower than a year ago, according to data released by the Treasury Department Thursday, as companies made smaller estimated payments due to the reduction...

A Trade War Could Erase the Tax Cut Boost: Gary Cohn

By Michael Rainey

President Trump’s former top economic adviser warned Thursday that a developing trade war could wipe out the benefits of the GOP tax cuts. Speaking at an event hosted by The Washington Post, Gary...
Infographic of the Day: Corporate Winners and Losers Under the New Tax Law

By The Fiscal Times Staff

Bloomberg Tax breaks down the new tax law’s short-term effects on the top 50 companies on the Fortune 500. Forty-three of the companies saw one-time benefits totaling $137 billion, while seven booked...
Congress Under Pressure to Fix New Tax Law

By The Fiscal Times Staff

Lawmakers are facing growing pressure from industry groups to fix glitches in the GOP tax law, reports The Hill , but it’s unclear how or when those corrections will be rolled out. The task is...
Don't Mess with Amazon: Seattle Repeals Tax on Large Employers

By Yuval Rosenberg

Well, that was fast. Faced with an intense backlash from Amazon and other businesses, Seattle’s city council voted Tuesday to repeal the tax on large employers that they passed just less than a month...
Why the Tax Cuts May Not Spur an Investment Boom in the US – or Deliver Big Pay Raises

By Michael Rainey

The Trump administration promised that the corporate tax cuts would deliver a surge in domestic investment and big pay raises for American workers, but a new analysis suggests that the economic...