Treasury Department Archive

TweetShareSharePin0 Shares A Senate vote this week? Sen. Kyrsten Sinema (D-AZ) has not yet taken a position on the Manchin-Schumer climate and tax compromise. The bill would establish new spending and tax subsidies for energy production, a 15 percent minimum tax on the income large corporations report to their shareholders, and a substantial boost in

TweetShareSharePin0 Shares Key Findings Seventeen states will hold a sales tax holiday in 2022, down from a peak of 19 in 2010 and unchanged from last year. Sales tax holidays do not promote economic growth or significantly increase consumer purchases; the evidence (including a 2017 study by Federal Reserve researchers) shows that they simply shift

TweetShareSharePin0 Shares The state of Georgia has passed new legislation that allows parents-to-be to claim embryos as dependents on their state taxes. The moves comes after the United States Supreme Court overturned Roe v. Wade, and on the heels of the state of Michigan proposing similar legislative action. NBC News reported that “taxpayers who have

TweetShareSharePin0 Shares The City of Denver, Colorado, like many major cities around the United States, is attempting to reduce waste by encouraging people to bring their own bags when they go shopping. As such, the Mile High City implemented its “Bring Your Own Bag Program” effective July 1, 2021. Official details about the program read: Retail stores

TweetShareSharePin0 Shares Senators Pat Toomey (R-PA) and Kyrsten Sinema (D-AZ) have proposed exempting cryptocurrency transactions of $50 or less from capital gains taxes. While it seems like a modest tax change, it could have profound effects on how crypto is perceived and used. And it would give crypto a tax advantage over other investments. Like

TweetShareSharePin0 Shares On the Hill. The Senate plans to vote this week on the Manchin-Schumer compromise reconciliation package. Meanwhile, House Democrats have introduced the Billionaire Minimum Income Tax Act. Sponsored by Reps. Don Beyer and Steve Cohen, it would implement President Biden’s proposal to impose a 20 percent tax on households worth more than $100

TweetShareSharePin0 Shares As record-level inflation rates cause families around the United States to tighten up financially, the state of Tennessee is doing something to help combat rising costs. Governor Bill Lee proposed a monthlong suspension of grocery taxes in March — now, residents of the state can take advantage of tax-free grocery store purchases for the