federal taxes Archive

TweetShareSharePin0 Shares Modest progress in spending talks. Senate Majority Leader Chuck Schumer said he’s encouraged. House Speaker Nancy Pelosi said she still hopes that Congress will address the debt limit in a bipartisan manner, ideally this year, but a year-long spending bill is a higher priority. She told reporters, “If we can’t have a solution,

TweetShareSharePin0 Shares The IRS recently issued a news release urging Americans to prepare for smaller tax refunds in 2023. Credit: Hisham Ibrahim/Getty Images According to the tax agency, American taxpayers who take the recently-increased standard deduction, as opposed to itemizing, will no longer be able to deduct their charitable contributions. Furthermore, the American Rescue Plan Act of

TweetShareSharePin0 Shares In two months, the United Kingdom has had two new tax plans, two new Prime Ministers (Liz Truss, then Rishi Sunak), and two new Finance Ministers (Kwasi Kwarteng, then Jeremy Hunt). The Truss-Kwarteng tax proposal would have lent modest support to real economic growth, cushioning economic fallout from the Bank of England’s overdue

TweetShareSharePin0 Shares TPC analyzes a plan to make the TCJA permanent. In a new analysis, TPC finds that making permanent the individual provisions of the 2017 Tax Cuts and Jobs Act would add more than $3 trillion to the federal debt over 10 years. The idea, at the top of the wish list of House

TweetShareSharePin0 Shares As January’s Texas legislative session approaches, Lieutenant Governor Dan Patrick (R) is prioritizing tax relief. His primary suggestion? Raising the general homestead exemption from $40,000 to $60,000 or $65,000. Credit: Bo Zaunders/Getty Images Kera News for North Texas reported that Patrick unveiled his priorities on November 30, acknowledging many of the things he would like

TweetShareSharePin0 Shares French President Macron is coming to Washington, D.C., this week to ask President Biden the question on the minds of European leaders: “Why did you do this to us?” When President Biden signed the Inflation Reduction Act into law, he put many European companies at a disadvantage unless they move production to the

TweetShareSharePin0 Shares “Here to Christmas:” Will Congress extend its Dec. 16 funding deadline? After a leadership meeting at the White House, Senate Majority Leader Chuck Schumer declined to say whether he’d push for a short-term spending bill or a year-long deal. Minority Leader Mitch McConnell is still mulling whether to strike a deal with Democrats.