Budget Battles
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Biden Jacks Up Tariffs on $18 Billion in Chinese Imports
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Trump Promises New Tax Cuts for Everyone
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Biden White House Lays Out Plan for Coming Tax Showdown
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Trump Tax Cut Extension Would Cost $4.6 Trillion: CBO
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House Kills Greene Motion to Oust Speaker Johnson
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Greene Backs Off Johnson Threat, but Issues Four Demands
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Social Security, Medicare Get Boost From Strong Economy
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Biden’s Top Economic Advisor Lays Out Principles for Tax Fight Ahead
By Michael RaineyWith many of the 2017 Republican tax cuts set to expire after next year, the White House and Congress are already laying the groundwork for a huge battle over the tax code. On Friday, President Joe...
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Trump Tax Cut Extension Would Cost $4.6 Trillion: CBO
By Michael RaineyLawmakers in Washington will need to address some serious fiscal questions next year, not least of which is what to do about Trump-era tax cuts set to expire at the end of 2025. Some in Congress want...
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IRS Unveils Plan to Crack Down on Wealthy Taxpayers
By Michael RaineyThe IRS wants to increase its audit rate for taxpayers earning more than $10 million by about 50%, according to an updated operating plan released Thursday. Relying on additional funding provided by...
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Marjorie Taylor Greene Says She’ll Force Vote to Oust Johnson
Republican Rep. Marjorie Taylor Greene announced Wednesday that she will force a vote next week on her motion to oust Speaker Mike Johnson, even as her odds of succeeding appear to be nil. Republican...
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Supply-Siders Pitch Trump on a Flat Tax
By Michael RaineyA group of conservative advisers long associated with Republican economic policies are reportedly encouraging former President Donald Trump to embrace the idea of a flat income tax. Bloomberg’s...
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Former Biden Administration Economists Launch New Budget Lab
A huge tax fight is looming as a slew of 2017 Republican tax cuts are scheduled to expire at the end of 2025 — and, as Natasha Sarin writes at The Washington Post , the government’s budgetary...
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Trump Promises Billionaires: I'll Keep Your Taxes Low
Former President Donald Trump reportedly told wealthy donors to his 2024 campaign that he’ll keep their taxes low and extend his 2017 tax cuts, many of which are set to expire after 2025. Trump’s...
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Free IRS Filing Program Draws Few Users
By Michael RaineyThe IRS announced last week that upwards of 19 million people in 12 states are eligible to file their taxes for free using Direct File, a new program the tax agency is testing this year. But...
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19 Million Taxpayers Eligible for Free IRS Filing Program
By Michael RaineyThe IRS is testing a new online system that offers free filing directly through the tax agency, and over the weekend, Commissioner Danny Werfel said that millions of people are eligible to use it...
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Poll Finds Liberals and Conservatives Agree: Tax the Super-Rich
By Michael RaineyPresident Joe Biden has proposed a number of tax hikes on wealthy households and corporations, and it looks like some of his proposals — including a 25% minimum tax on billionaires — could win...
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Is the Tax System Broken?
By Michael RaineyHistorically, tax revenues have increased significantly during economic booms as unemployment falls and then declined during slowdowns as unemployment rises, but according to Bobby Kogan, senior...
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Jordan Loses Second Speaker Vote, Says He'll Keep Going
Jim Jordan suffered a second defeat Wednesday in his bid to win the speaker’s gavel — a campaign that now appears doomed to fail even as the firebrand Ohio Republican insists he wants to keep going...
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IRS to Test Free Filing System
By Michael RaineyThe IRS announced Tuesday that it will test its direct tax-filing system in a handful of states next year. The tax agency has been working on the free, electronic alternative to paid tax services...
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Jim Jordan Builds Support Ahead of Speaker Vote
By Michael RaineyWith a vote in the full House scheduled for noon on Tuesday, Rep. Jim Jordan is gaining support in his effort to become the next speaker. “I feel real good about the momentum we have and I think we'...
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Tax Gap Grows to Nearly $700 Billion: IRS
By Michael RaineyThe “tax gap” is getting bigger, according to the latest estimate of the amount of money Americans owe in federal taxes but fail to pay. The IRS said Thursday that Americans failed to pay $688...