Should the tax repeal survive legal challenges, it'll be on the ballot in November 2022 as Proposition 307.
Judge Coogler described the tax-cut restrictions as "a federal invasion of State sovereignty" that was "unconstitutionally ambiguous."
The SALT provision allows taxpayers to deduct certain taxes paid to state and local governments from their federal taxes.
The administration's massive spending bill is "paid for" by future tax increases. That argument works in D.C., if not in real life.
Thirty-nine percent of GOP voters said they support Democrats' $3.5 trillion "human infrastructure" bill, despite no Republican lawmakers backing the package.
Republicans are taking advantage of the Biden administration's refusal to enforce a law designed to make sure stimulus money isn't used for tax breaks.
State Rep. David Cook accused GOP leadership of forcing the vote when they were aware that they lacked the votes.
Manchin's proposed change would have a huge impact on how the Biden infrastructure plan is paid for, while largely preserving a tax policy that delivers a windfall to a tiny handful of executives at major corporations.
Growth matters. The Republicans who followed Reagan into the White House either didn't get it or couldn't explain it.
Senate Majority Leader Chuck Schumer slipped language into the American Rescue Plan designed to keep Republicans from using federal funds to subsidize tax cuts for corporations or rich people.
AMPLIFY - Finance
Were you working in a state different than where your company is? You can be taxed by multiple states. Learn about the state of domicile, state of residence, how to check if you qualify for tax relief and the list of states that won't charge you if you worked there temporarily.
Palihapitiya is a corporate-friendly, Third Way centrist, with a sprinkle of social justice rhetoric but also an intense devotion to libertarian free-market triumphalism.
The returns from major public investments are huge. The costs of not making them are astronomical.
Biden's tax plan could see marginal tax rates rise for the top 1 percent of earners, while middle class families will see tax cuts, according to several think tanks.
The marginal state and local tax rates under Biden's tax proposal would be the highest they have been since 1986.
"The bottom line is, you have to pay for what you get," the former Democratic presidential candidate said.
The president could take the concept of deferred action and use it to unleash economic growth.
Pelosi asked where so-called "fiscal conservatives" were when Trump and Republicans gave tax cuts to "the wealthiest 1 percent of Americans" in 2017.
The former secretary of state said the Trump administration's attempts to contain the coronavirus are exposing his lack of investment in infrastructure or the country's future.
Among the report's top findings was that the 2017 Tax Cuts and Jobs Act has resulted in average GDP growth identical to growth prior to the law's enactment.
The 2017 tax overhaul expanded taxpayers' standard deduction but made millions of Americans ineligible to claim a tax break for donating to charities—leading to a decline in giving to these organizations.
Trump 2020 press secretary Kayleigh McEnany argued in response that the Democratic presidential candidate wants to "abolish the American dream."
Senators Bernie Sanders and Elizabeth Warren both blasted FedEx and President Donald Trump's "corporate elite" tax cuts for allowing the courier giant to avoid paying any federal taxes.
The 2019 U.S. federal deficit increased 26 percent over 2018 and has more than doubled since 2015, the Treasury Department said Friday.
Here's to you, Professors Banerjee, Duflo and Kremer. Congratulations! Now tell me whether we should increase or decrease aid to developing nations. Using very short words, please.
The Tax Cuts and Jobs Act sharpened the decline in a tax rate paid by America's 400 wealthiest families, a new analysis shows.
"The underlying consumer is doing well and making more money. More importantly, they're spending more money."
"Cutting budgets is one way to handicap an agency without eliminating it altogether," said Bridget Stomberg, an associate professor of accounting at the Indiana University Kelley School of Business.
The co-author of the Republican tax bill admitted that it's "hard to know" what the economic benefits of the cuts will be as corporate revenues drop 31%