Trump Promises Middle-Class Tax Cut

President Trump on Aug. 24 promised a “major” middle-class tax cut if he is reelected and Republicans retake the House in the 2020 elections. “If Republicans take back the House, and keep the Senate and Presidency, one of our first acts will be to approve a major middle income tax cut,” Trump tweeted over last… Read more »

White House Disputes Talks of Payroll Tax Cut

White House officials this week disputed reports that the administration is considering a temporary payroll tax cut as a means of countering a possible economic slowdown. President Trump and other senior officials continue to praise the strength of the economy but are having internal discussions about steps that could be taken to prevent any faltering… Read more »

Senate Likely to Take Up Tax Extenders Later This Year

Senate Finance Committee Chairman Charles Grassley (R-IA) released reports this week from three of the six task forces he charged with examining tax extenders. Grassley had initially said the task forces would report their findings by the end of June. Grassley and Wyden are hoping for solutions on which of the tax breaks should be… Read more »

House Votes to Repeal Cadillac Tax

The House on Wednesday easily passed legislation to repeal the “Cadillac tax” on high-cost employer-provided health insurance that was supposed to help pay for the Affordable Care Act. The 419-6 vote confirms that the Cadillac tax is deeply unpopular with both Republicans and Democrats despite having never taken effect. Delayed repeatedly by Congress, the tax… Read more »