House to Vote on Bill Aimed at Slashing $72 Billion From IRS

The House is set to vote on a bill Monday night that would slash billions from the IRS, fulfilling newly elected GOP Speaker Kevin McCarthy’s pledge to cut the agency’s funding in an effort to prevent audits on Americans.

Ex-President Trump Under Pressure Over Tax Returns

Former U.S. President Donald Trump faced more hurdles on his attempted path to re-election Saturday after Democrats in Congress released thousands of pages of what they view as controversial tax returns.

House Committee Now Has Six Years of Trump’s Tax Returns

A U.S. House of Representatives committee has obtained Donald Trump’s tax returns, following a years-long court fight with the Republican former president who accused the Democratic-led panel of being politically motivated, CNN reported on Wednesday.

New Zealand cattle and sheep farmers protest “burp” tax

New Zealand cattle and sheep farmers have engaged in over 50 nationwide demonstrations, protesting the government’s proposed plans to tax climate-heating gasses that farm animals release when burping, Sky News reports.

British Chancellor Sacked After Disastrous Tax Plan

Britain’s embattled Prime Minister Liz Truss fired her Finance Minister Kwasi Kwarteng on Friday and deleted parts of their economic package in a desperate bid to stay in power and reassure markets after financial turmoil.

US federal government received nearly $4 trillion in record tax income this fiscal year

The US federal government collected a record $3,835,390,000,000 in total taxes in the first nine months of this fiscal year, the new Monthly Treasury Statement of Receipts and Outlays of the United States Government (MTS) reports. The Fiscal Year-to-Date (FYTD) budget deficit through June was $515 billion, a $1.723 trillion (-77%) decrease from the same period last year.

G20 Finance Summit ends without joint communique

The G20 Finance Summit in Indonesia ended yesterday without a final joint communique, as intense divisions over Russia’s invasion of Ukraine prevailed among leaders of the world’s twenty richest countries, the Associated Press (AP) reports. Aside from the Russian invasion issue, the finance ministers in attendance at the summit did agree on the need to address global challenges such as decades-long high inflation and food insecurity.

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