Taxes
  • Trump’s Infrastructure Plan Falls at Least $1.3 Trillion Short: Wharton

    By Michael Rainey

    President Trump’s $1.5 infrastructure plan calls for $200 billion in direct federal spending, with the remaining $1.3 trillion coming from state, local and private sources. But the unusual financing...

  • Australia Wants to Jump-Start Trump’s Infrastructure Plan

    By Michael Rainey

    During his visit to the White House this week, Australian Prime Minister Malcolm Turnbull is expected to propose using part of his nation’s roughly $2 trillion pension savings pool to invest in U.S...

  • The rising cost of existing tax breaks could add about $3 trillion dollars to the federal debt by 2020.

    Most Americans Aren’t Feeling the Tax Cuts Yet

    By Michael Rainey

    Only a quarter of registered voters are seeing the effects of the recently passed tax cuts in their paychecks, according to a Politico/Morning Consult poll released Wednesday. The majority of...

  • July 21, 2014

    Are We Turning the Dials the Wrong Way?

    “Federal fiscal policy is entering uncharted territory,” Goldman Sachs economists Alec Phillips and Blake Taylor warned Sunday in a research note. Their title: “What’s Wrong with Fiscal Policy?” You...

  • U.S. President Trump sits at his desk before signing bills at the White House in Washington

    Tax Overhaul Gaining Support

    By Michael Rainey

    The public is slowly warming to the Republican tax overhaul, according to a new survey from The New York Times . Approval has risen to 51 percent, up from 46 percent in December, likely driven at...

  • Delaware’s Tax Cut Gold Rush Is Coming to an End

    By Michael Rainey

    Since late 2017, hedge fund and private equity executives have created thousands of shell companies in America’s most forgiving tax jurisdiction in what appears to be an effort to game the Republican...

  • FILE PHOTO:  Fannie Mae headquarters is seen in Washington, DC, U.S. on February 21, 2014.  REUTERS/Kevin Lamarque/File Photo

    Fannie Mae Whacked by New Tax Rules

    By Michael Rainey

    The Republican tax overhaul took a big bite out of Fannie Mae, the mortgage giant that has been managed by the federal government since the 2008 financial crisis. The new tax rules forced Fannie Mae...

  • U.S. President Trump sits at his desk before signing bills at the White House in Washington

    Trump Clearly Has No Problem with Debt and Deficits

    By Michael Rainey and Yuval Rosenberg

    A self-proclaimed “king of debt,” President Trump has produced a budget that promises red ink as far as the eye can see. With last year's $1.5 trillion tax cut reducing revenues, the White House gave...

  • FILE PHOTO: A CSX freight train crosses the Potomac River in Harpers Ferry West Virginia

    Why Trump’s $1.5 Trillion Infrastructure Plan Will Never Get on Track

    By Michael Rainey

    The Trump administration’s infrastructure plan , released Monday, is designed to “stimulate” $1.5 trillion in spending over 10 years, but the federal government’s contribution to that effort is just...

  • Another Blue State Wants a Tax Workaround

    By Michael Rainey

    New Jersey is the latest high-tax state looking for ways to limit the potentially negative effects of the Republican tax overhaul, which imposed a $10,000 limit on state and local tax deductions. On...

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