taxes  (Page 1)

Senate Passes Budget Plan That Clears Path to Tax Reform

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Posted by  ▪  Friday, October 20, 2017 at 2:30pm 10/20/2017 at 2:30pm
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The Senate passed a 2018 budget on Thursday night, 51-49, with Sen. Rand Paul (R-KY) being the only Republican who voted no.

The biggest part of the budget, though, is that it provides a shortcut to tax reform using reconciliation instructions to protects a tax bill that adds up...

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I Watched the Sanders Cruz Tax Debate So You Didn’t Have to

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Posted by  ▪  Thursday, October 19, 2017 at 8:30am 10/19/2017 at 8:30am
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This was like a trip down memory lane. Let me begin by saying the debate style of Bernie Sanders hasn’t changed since the 2016 Democratic primary. I lost track of how many times he said millionaires, billionaires and Koch brothers in the first 30 minutes.

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Bloomberg’s Cook County Soda Tax Repealed Months After its Implementation

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Posted by  ▪  Wednesday, October 11, 2017 at 5:34pm 10/11/2017 at 5:34pm
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Nanny staters are gonna nanny state.

Former New York City Mayor Michael Bloomberg’s meddlesome agenda was dealt a blow Wednesday when Illinois’ Cook County voted to repeal its soda tax just months after it was adopted.

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Will Tax Reform Hit the Same Road Bumps as Obamacare Repeal?

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Posted by  ▪  Monday, October 9, 2017 at 4:00pm 10/9/2017 at 4:00pm
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The House passed a 2018 budget resolution last week along with the Senate Budget Committee, two crucial steps to start tax reform. It’s an opportunity for President Donald Trump and the Republican lawmakers to hold a promise after they couldn’t repeal Obamacare.

The GOP has the majority, but just like with Obamacare,...

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Tax Plan Already Receiving Pushback From GOP Lawmakers

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Posted by  ▪  Tuesday, October 3, 2017 at 10:00am 10/3/2017 at 10:00am
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Last week, President Donald Trump’s administration and the GOP in Congress released a framework for possible tax reform. The details are vague, noting that more will happen once tax reform switches to committees.

However, two GOP senators have already voiced doubt over the framework: Kentucky Republican Rand Paul and Tennessee Republican Bob...

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Senate GOP Pitches 2018 Budget Plan to Start Tax Reform

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Posted by  ▪  Saturday, September 30, 2017 at 7:30am 9/30/2017 at 7:30am
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Senate Republicans released its 2018 budget, which includes terms to allow the lawmakers to push through tax reform through budget reconciliation. This would protect them from a Democratic Filibuster.

The plan gives tax writers until November 13 to submit tax reform plans.

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Trump Admin Releases ‘Framework’ for Tax Reform

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Posted by  ▪  Wednesday, September 27, 2017 at 1:00pm 9/27/2017 at 1:00pm

Obamacare repeal. Tax reform. Obamacare repeal. Now back top tax reform! President Donald Trump’s administration and the GOP in Congress have released a framework for possible tax reform.

The framework somewhat mirrors what Trump released in April: slashed corporate tax rate and three tax brackets. The Republicans hope this plan will finally...

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Tax Reform May Include Targeting 401(k) to Help With Lost ‘Revenue’

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Posted by  ▪  Tuesday, September 26, 2017 at 1:00pm 9/26/2017 at 1:00pm
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We all know that besides healthcare, tax reform is one of the bigger ideas on President Donald Trump’s agenda. His administration has been screaming tax cuts while the left cries over lost “revenue.” But instead of cutting spending like any sane person would do when caught in a tight budget, the...

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Toomey, Corker Announce ‘a Path Forward on Tax Reform’

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Posted by  ▪  Wednesday, September 20, 2017 at 2:30pm 9/20/2017 at 2:30pm
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Sens. Pat Toomey (R-PA) and Bob Corker (R-TN), two members with opposing views on fiscal policy, have announced “a path forward on tax reform” that “would allow for a tax reduction, as scored on a statistic basis, over a 10-year period.” They hope to Senate Budget Committee will vote on said...

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Democrat Rep. Tim Ryan Urges Party to Accept Corporate Tax Cuts

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Posted by  ▪  Friday, September 1, 2017 at 4:00pm 9/1/2017 at 4:00pm
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Rising Democrat star Rep. Tim Ryan (OH) told The Hill that he wants to see Congress embrace a “business friendly agenda” before the 2018 elections. Ryan said part of t...

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Trump Travels to Missouri to Push Congress on Tax Reform

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Posted by  ▪  Thursday, August 31, 2017 at 1:00pm 8/31/2017 at 1:00pm
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As Congress is scheduled to return from recess next week, President Donald Trump traveled to Missouri on Wednesday to encourage Congress to tackle tax reform and actually get the job done…unlike the ordeal with Obamacare. From Yahoo! News:

“I don’t want to be disappointed by Congress, do you understand me,” Trump said,...

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White House Will Not Release Its Own Tax Reform Plan

http://www.palmbeachpost.com/news/national-govt--politics/read-president-trump-speech-coast-guard-academy-commencement/jU7CcqSBvvn0a1d305HSeJ/
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Posted by  ▪  Friday, August 25, 2017 at 5:30pm 8/25/2017 at 5:30pm
http://www.palmbeachpost.com/news/national-govt--politics/read-president-trump-speech-coast-guard-academy-commencement/jU7CcqSBvvn0a1d305HSeJ/

With Congress’s recess about to end, eyes have turned to tax reform. But in a surprise twist, the White House has decided not to write its own tax reform plan, according to President Donald Trump’s head economic aide. From The Financial Times:

“The ‘big six’ have been meeting and have come up...

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Illinois: Cook County Beverage Tax Will Start on Wednesday

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Posted by  ▪  Saturday, July 29, 2017 at 3:30pm 7/29/2017 at 3:30pm
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Cook County Circuit Judge Daniel Kubasiak dismissed a challenge to the county’s beverage tax as unconstitutional, which means the tax will go into effect on Wednesday. From The Chicago Tribune:

In the immediate aftermath of Friday’s ruling, retailers and beverage industry groups lamented the setback, while health groups and county officials cheered....

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Tax Reform: GOP Leaders, White House Drop Border Adjustment Tax

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Posted by  ▪  Friday, July 28, 2017 at 11:30am 7/28/2017 at 11:30am
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Congressional Republicans and President Donald Trump’s administration decided to abandon the controversial border adjustment tax (BAT) and concentrate more on corporate tax in their tax reform approach. The joint statement read:

While we have debated the pro-growth benefits of border adjustability, we appreciate that there are many unknowns associated with it and...

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Cook County Threatens 1,100 Layoffs After Soda Tax Delayed

http://abc7chicago.com/food/cook-county-to-cut-1100-jobs-due-to-soda-tax-delay/2206657/
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Posted by  ▪  Wednesday, July 12, 2017 at 11:30am 7/12/2017 at 11:30am
http://abc7chicago.com/food/cook-county-to-cut-1100-jobs-due-to-soda-tax-delay/2206657/

Officials in Cook County, the home of Chicago, have threatened to pass out 1,100 layoff notices since a judge delayed implementation of a soda tax.

Circuit Judge Daniel Kubasiak placed a temporary hold on the tax until at least July 21. Cook County Board President Toni Preckwinkle said this move has forced...

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Illinois House Overrides Gov. Rauner’s Veto on Tax Hike, Budget Bill

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Posted by  ▪  Thursday, July 6, 2017 at 7:00pm 7/6/2017 at 7:00pm
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The Illinois House voted to override Republican Governor Bruce Rauner’s veto of the income tax hike and budget bill. This is the first budget Illinois has passed in two years.

The House voted 71-42, which is the bare minimum House Speaker Mike Madigan needed, after a security incident delayed the vote for...

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Why Slashing Interest Deduction Could Cause Trouble for Businesses

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Posted by  ▪  Saturday, July 1, 2017 at 5:30pm 7/1/2017 at 5:30pm
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Healthcare reform has taken center stage once again, but tax reform still lurks in the background. It’s yet another issue that Congressional Republicans cannot agree on, mainly on the border adjustment tax.

But there’s a tax deduction the Republicans may eliminate that could cause problems and possible resistance among lawmakers, including within...

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