Taxes

Amazon Got More Than $2 Billion in HQ2 Sweeteners

By Yuval Rosenberg

Amazon confirmed on Tuesday that it will build two new headquarters in New York City and Northern Virginia while also adding a smaller site in Nashville that will deal with operations and logistics...
Deficit Hit $100 Billion in October

By The Fiscal Times Staff

The U.S. government spent $353 billion in October while revenues came in at $253 billion, producing a deficit of $100 billion. Receipts were 7 percent higher than a year ago, but spending was up 18...
The GOP Tax Cuts 10 Months In: What's Working, What's Not

By Michael Rainey

The $1.5 trillion Republican tax overhaul came with some big promises, including faster economic growth, increased business investment and significantly higher wages for American workers. Ten months...
Chart of the Day: How Taxes and Transfers Affect US Incomes

By Michael Rainey

A new analysis of the distribution of household income by the Congressional Budget Office shows how taxes and means-tested transfers such as Medicaid and food stamps affect US incomes. “The combined...
What the Exit Polls Revealed on Taxes and Health Care

By The Fiscal Times Staff

Here's what exit polls told us about some key issues: 45 percent: NBC News’ exit poll found that 45 percent of voters said the Republican tax cuts had no impact on their personal finances, compared...

Dems Will Target GOP Tax Cuts in the New Year

By Michael Rainey

Democrats will attempt to undo tax cuts for wealthy households when they take over the House in January, The Wall Street Journal’s Richard Rubin reports . The move will likely come as part of an...
What Should Democrats Do Now That They’ve Won the House?

By Michael Rainey

With Democrats winning control of the House Tuesday, political experts are lining up to give advice on what they should do with their new powers. While there’s little chance of enacting significant...
Share Buybacks Come Roaring Back

By Michael Rainey

Publicly-traded U.S. corporations have resumed share buybacks at a torrid pace, following an informal blackout period prior to third-quarter earnings announcements, CNBC reported Thursday. Analysts...
5 Tax and Spending Takeaways from the Midterm Elections

By Michael Rainey

Tuesday’s election results changed the outlook for some key tax and spending proposals. Here are 5 takeaways from the midterm vote: 1. The GOP’s “tax cuts 2.0” effort is dead. The Republican plan to...
3 Ways Democrats Could Roll Back Trump’s Tax Cuts

By Michael Rainey

With President Trump in office until at least 2020, Democrats won’t have the opportunity to enact their own tax legislation for several years, but party leaders are already talking about their...

Republicans Ignore the Obvious Effect of Their Tax Cuts

By Yuval Rosenberg

President Trump, top administration officials and Republican congressional leaders claim that the rising deficit, which grew 17 percent to $779 billion in fiscal 2018, is not the result of their tax...
Why Tax Cuts in a Strong Economy Could Hurt in the Long Run

By Michael Rainey

Passing tax cuts in an already strong economy violates the important fiscal principle, says Jared Bernstein, former chief economist to Vice President Joe Biden, in The Washington Post Wednesday. “...
Kudlow Says the Party's Just Getting Started, but Is the Economy Headed for a Hangover?

By Michael Rainey

Senior White economic advisor Larry Kudlow touted the Trump economy Friday, telling CNBC that “[w]e're in a hot economic boom. There's no end in sight." As a result, the stock market should “get back...
Mnuchin Spins a False Claim About Tax Cuts and the Deficit

By Yuval Rosenberg

The Congressional Budget Office projected last week that the federal government’s fiscal 2018 deficit would total $782 billion. The final numbers will be released by the Treasury Department, but...
A Fiscal Hawk’s New Plan to ‘Avert a Debt Crisis’

By Yuval Rosenberg

The national debt rose by more than $1 trillion in fiscal 2018, and yet lawmakers have evinced little concern about it ahead of this year’s elections, instead pushing tax cuts and spending increases...