taxes  (Page 4)

Report Claims GOP Tax Plan is Bad for Higher Education

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Posted by  ▪  Saturday, December 2, 2017 at 12:30pm 12/2/2017 at 12:30pm

For many Americans, this will be seen as a feature not a bug.

Bloomberg reports:

Republican Tax Plan for Colleges Is a Self-Inflicted Wound

The tax reform plan now making its way through Congress has a number of measures that...

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Senate passes Tax Reform bill 51-49

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Posted by  ▪  Saturday, December 2, 2017 at 9:00am 12/2/2017 at 9:00am

At 1:50 a.m. Eastern Saturday morning, December 2, 2017, the U.S. Senate passed a Tax Reform bill after hours of attempts by Democrats to scuttle the bill.

Every Republican except for Bob Corker voted in favor, and all Democrats voted against.

The Obamacare Mandate, which survived Supreme Court challenge thanks to Chief Justice...

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Senate GOP Claims It Has the Votes for Tax Bill

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Posted by  ▪  Friday, December 1, 2017 at 11:33am 12/1/2017 at 11:33am

Sen. John Cornyn (R-TX) said the GOP has the votes to pass the tax bill, especially since Sen. Ron Johnson (R-WI) and Sen. Steve Daines (R-MT) committed themselves to a yes vote after weeks of saying no. From The Wall Street Journal:

Sen. John Cornyn (R., Texas), the No. 2 Senate Republican,...

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Senate Budget Committee Passes Tax Bill Along Party Lines

https://www.youtube.com/watch?v=tehAJgAn1Zo
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Posted by  ▪  Tuesday, November 28, 2017 at 7:00pm 11/28/2017 at 7:00pm
https://www.youtube.com/watch?v=tehAJgAn1Zo

The senate tax bill conquered its first hurdle when the Senate Budget Committee passed it along party lines, 12-11. This also gives some optimism for it on the senate floor since two GOP senators who had hesitations on it voted yes in the committee: Sen. Bob Corker (R-TN) and Sen. Ron...

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Will the Senate Change Its Tax Plan Ahead of Vote?

https://www.youtube.com/watch?v=eGAMnyCqGWg
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Posted by  ▪  Monday, November 27, 2017 at 8:30am 11/27/2017 at 8:30am
https://www.youtube.com/watch?v=eGAMnyCqGWg

It’s a big week in the Senate as the lawmakers will vote on the GOP tax plan. They’re hoping to pull it through after two miserable Obamacare repeal attempts this year. Needless to say, they’re desperate for a victory.

But as I’ve said over and over, the GOP only has a two-seat...

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Judge Rules Against Seattle’s Tax on the Wealthy

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Posted by  ▪  Saturday, November 25, 2017 at 2:00pm 11/25/2017 at 2:00pm

Any discussion of tax reform shifts quickly to “tax the rich” with avowed socialist Senator Bernie Sanders (I-VT) and Sanders wannabe Senator Elizabeth Warren (D-MA) at the forefront of the Democrat 2020 presidential hopeful pack.  There are numerous problems with this philosophy, not the least of which is that it’s a...

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Tax Bill Squeaks Through GOP House, Has Uncertain Future in Senate

https://www.youtube.com/watch?v=b2b2styV8VM
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Posted by  ▪  Thursday, November 16, 2017 at 4:00pm 11/16/2017 at 4:00pm
https://www.youtube.com/watch?v=b2b2styV8VM

The GOP-controlled House passed a tax bill that eliminates many popular deductions, but reduces the tax brackets to three instead of seven and doubles standard deductions.

It passed 227-205. However, 13 Republicans voted against the bill and no Democrats voted for it. This could spell gloom for it in...

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Senate Tax Plan Now Includes Making Individual Tax Cuts Temporary

https://www.youtube.com/watch?v=eGAMnyCqGWg
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Posted by  ▪  Wednesday, November 15, 2017 at 3:00pm 11/15/2017 at 3:00pm
https://www.youtube.com/watch?v=eGAMnyCqGWg

Senate Finance Committee Chairman Orrin Hatch (R-UT) has revealed changes made to the Senate’s tax reform bill, which includes expiration dates to the tax cuts given to individuals, but will make the business tax cute permanent.

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Senate Will Include Obamacare Mandate Repeal in Tax Bill

https://www.youtube.com/watch?v=jN7nGcjxGtg
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Posted by  ▪  Tuesday, November 14, 2017 at 4:30pm 11/14/2017 at 4:30pm
https://www.youtube.com/watch?v=jN7nGcjxGtg
...
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House Committee Passes Tax Bill as Senate Offers Its Own Bill

https://www.youtube.com/watch?v=eGAMnyCqGWg
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Posted by  ▪  Friday, November 10, 2017 at 11:31am 11/10/2017 at 11:31am
https://www.youtube.com/watch?v=eGAMnyCqGWg

The House Ways and Means Committee passed its tax reform bill down party lines on Thursday after a week of markups. The House is the next step.

The Senate has its own tax bill, which the two chambers will have to reconcile if each approves their own bill. From CNBC:

The House bill,...

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GOP Tax Bill Includes Excise Tax on Business Payments to Offshore Affiliates

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Posted by  ▪  Tuesday, November 7, 2017 at 4:00pm 11/7/2017 at 4:00pm

SURPRISE! You didn’t think the GOP tax reform bill would go off without a hitch, right? Because we all know that the government needs to keep spending so they can’t cut too many taxes.

The House Ways and Means Committee had a markup session on Monday and reports have emerged that multinational...

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GOP Tax Bill Eliminates Key Deductions, Leaves 401(k) Alone

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Posted by  ▪  Thursday, November 2, 2017 at 3:00pm 11/2/2017 at 3:00pm

The House GOP decided to wait a day to release its tax reform bill to smooth out some disagreements. That plan was finally released Thursday and like the framework President Donald Trump’s administration released, it reduces the number of tax brackets, eliminates deductions, and reduces the corporate tax rate.

But will it...

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Controversial Tax Change May Face No Hassle in Senate

https://www.youtube.com/watch?v=jN7nGcjxGtg
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Posted by  ▪  Tuesday, October 31, 2017 at 11:30am 10/31/2017 at 11:30am
https://www.youtube.com/watch?v=jN7nGcjxGtg

Eyes are on tax reform this week as the GOP controlled House plans to release its tax reform bill on November 1, which may include elimination of state and local tax (SALT) deductions along with changes to 401(k) retirement plans.

Both have received proper outrage, especially from representatives in high-taxed states. But...

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GDP Up 3% Despite Hurricanes in Third Quarter

https://www.youtube.com/watch?v=C-Y-nW6enmk
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Posted by  ▪  Friday, October 27, 2017 at 2:30pm 10/27/2017 at 2:30pm
https://www.youtube.com/watch?v=C-Y-nW6enmk

Despite two massive hurricanes, the GDP, which is the measure of goods and services produced in America, grew to 3% in the third quarter.

Experts estimated a growth of only 2.5% because of the natural disasters, but the “increase in inventory investment and a smaller trade deficit” helped offset the slow spending...

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House Passes Budget, Sets Up Process for Tax Reform

https://www.youtube.com/watch?v=Z4_iLu8V7Vs
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Posted by  ▪  Thursday, October 26, 2017 at 1:00pm 10/26/2017 at 1:00pm
https://www.youtube.com/watch?v=Z4_iLu8V7Vs

The GOP-controlled House passed the budget on Thursday by a slim margin of 216-212. With the House and Senate budgets in sync, the lawmakers have activated a procedure that will allow a tax bill pass the Senate without a filibuster.

The majority of Republicans that voted no hail from high taxed states...

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Rep. Brady Insists Changes to 401(K) Funds Still an Option With Tax Reform

https://commons.wikimedia.org/wiki/File:Kevin_Brady_(32306478724).jpg
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Posted by  ▪  Wednesday, October 25, 2017 at 2:30pm 10/25/2017 at 2:30pm
https://commons.wikimedia.org/wiki/File:Kevin_Brady_(32306478724).jpg

I’ve been keeping an eye on tax reform and ideas to make changes to 401(k) retirement funds have caught my eye. At first, tax writers wanted to tax your earnings before you place money in the fund. Then over the weekend they floated the idea of changing the pre-tax limit to...

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Senate Passes Budget Plan That Clears Path to Tax Reform

https://www.youtube.com/watch?v=hsLsblfIl9M
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Posted by  ▪  Friday, October 20, 2017 at 2:30pm 10/20/2017 at 2:30pm
https://www.youtube.com/watch?v=hsLsblfIl9M

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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