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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The Decline of the IRS
By The Fiscal Times StaffProPublica has been documenting what it calls “the descent of the IRS” over the last decade as the agency struggles with budget cuts and hostility from lawmakers. In a report Thursday, the...
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Tax Day Won’t Be Postponed Again, Treasury and IRS Say
The Treasury Department and Internal Revenue Service announced late Monday that the July 15 tax-filing deadline, pushed back from April 15 due to the coronavirus pandemic, will not be postponed again...
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Millions of Taxpayers Face ‘Extreme Delays’ in Getting Refunds: IRS Watchdog
The novel coronavirus pandemic has resulted in some serious backlogs at the Internal Revenue Service, the National Taxpayer Advocate writes in a new report to Congress. Noting that the IRS has done a...
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![FILE PHOTO - The federal government forms for applying for health coverage are seen at a rally held by supporters of the Affordable Care Act, widely referred to as "Obamacare", outside the Jackson-Hinds Comprehensive Health Center in Jackson, Mississippi](https://dcewboipbvgi2.cloudfront.net/sites/default/files/styles/thumbnail/public/reuters/usa-obamacare-insurers_1.jpg?itok=PL3Nil7P "FILE PHOTO - The federal government forms for applying for health coverage are seen at a rally held by supporters of the Affordable Care Act, widely referred to as "Obamacare", outside the Jackson-Hinds Comprehensive Health Center in Jackson, Mississippi")
Trump Admin Asks Supreme Court to End Obamacare
By Michael RaineyThe Trump administration urged the Supreme Court to strike down the Affordable Care Act in a legal brief filed by the Justice Department late Thursday. The 82-page brief reiterates the administration...
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A ‘Wacky’ Tax Credit Idea: $4,000 for Vacation
By Michael RaineySen. Martha McSally (R-AZ) wants to use a tax credit to encourage Americans to take a vacation over the next two years. Under her proposed TRIP Act, adults would be able to tap a $4,000 tax credit...