Budget Battles
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US Deficit Soars to $3.1 Trillion
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McConnell Rejects Trump’s Call for Bigger Stimulus
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Mnuchin: Relief Bill Will Be ‘Difficult’ Before Election
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Trump Undermines McConnell on Stimulus Plan
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Trump Faces a GOP Revolt Over Stimulus
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Trump's Big U-Turn: A $1.8 Trillion Stimulus Offer
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Pelosi Plays Hardball as Stimulus Talks Resume
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Biden Tax Plan Would Raise $2.4 Trillion Over a Decade: TPC
By Michael RaineyUpdating its analysis of Joe Biden’s tax proposals, the centrist Tax Policy Center said Thursday that the former vice president’s plans would generate about $2.4 trillion over 10 years. The new...
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Tax Rates Crushing Some Low-Wage Workers: Fed Study
By Michael RaineyLow-wage workers face shockingly high marginal tax rates as they earn more once the loss of government benefits are taken into account, according to researchers at the Federal Reserve Bank of Atlanta...
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Biden’s Tax Plan Would Raise Trillions, With Little Effect on Growth: AEI
By Michael RaineyA newly updated analysis from the conservative American Enterprise Institute finds that Joe Biden’s tax plan would raise roughly $2.8 trillion over 10 years, while reducing economic growth by a...
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Trump Teases Another Massive Tax Cut
President Trump just left the Walter Reed Medical Center to return to the White House — a decision that’s astonishing outside experts and raising additional questions about his condition, his care...
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Trump’s Tax Cuts Didn’t Boost Job Numbers
By Michael RaineyThe job market was remarkably strong before the coronavirus pandemic hit earlier this year, with the unemployment rate falling to a 50-year low. Even so, President Trump’s promise to be the “greatest...
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Trump’s $750 Tax Bill
By Michael RaineyThe analysis released Sunday evening by The New York Times of President Trump’s tax filings stretching back over more than two decades has caused quite a stir as we enter the final weeks of the...
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Economy Would Do Better Under Biden Than Trump: Moody’s
By Michael RaineyThe economy is widely seen to be a relative strength for President Trump, with voters giving him much higher approval ratings for his handling of economic issues than other areas. But a new analysis...
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Massive Corporate Tax Holiday Could Cause Headaches Next Year
By Michael RaineyWorried about getting stuck with unpaid tax bills in 2021, private employers have largely passed on President Trump’s voluntary program that allows companies to defer the Social Security portion of...
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Why Joe Biden Wants to Go Big on a Stimulus Package
By Michael RaineySome Democratic economic policy wonks have long believed they made a serious mistake during the Great Recession: The $787 billion stimulus package President Barack Obama signed into law in 2009 just...
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Biden’s Tax Plan: Who Really Would Pay More?
Joe Biden’s tax plan would have high earners paying significantly more, with the top 1% of households shouldering 80% of the increase while those earning less than $400 would see no change on average...
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IRS Will Send 14 Million Taxpayers Interest on Their Tax Refunds
By The Fiscal Times StaffNearly 14 million taxpayers who waited until July 15 to file their taxes will be paid interest on their refunds, the IRS said Tuesday. The Treasury Department delayed the tax filing date for three...
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Trump’s Payroll Tax Plan and Unemployment Boost Run Into Resistance
From the moment President Trump unveiled unilateral actions that he claimed would provide economic relief to those hurt by the coronavirus pandemic, there were questions about just how effective...
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The White House Has Explored Ways to Sidestep Congress to Cut Taxes: Report
The White House has explored whether President Trump has the authority to cut taxes without legislation from Congress, The New York Times reports : “While such a move is not imminent, Mr. Trump’s...
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Trump's Payroll Tax Deferral Creates Headaches for Employers
President Trump pitched his plan to suspend payroll tax collections through the end of the year as a win for workers and a boost for the economy. Employers see it differently. “[F]or companies large...
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Trump Teases Another Tax Cut
President Trump said Monday he’s looking “very seriously” at some new tax cuts. “We’re looking at also considering a capital gains tax cut, which would create a lot more jobs,” Trump told reporters...