President Donald Trump on Thursday agreed to expand the use of disaster aid to rebuild Puerto Rico’s power grid and other infrastructure wrecked by Hurricane Maria, a senior White House official told Reuters.
The new GOP tax overhaul would strip illegal immigrants of the ability to claim several major tax credits, saving the government $23.1 billion over the next decade, according to the bill’s authors.
House Republicans postponed the much-anticipated rollout of their tax reform proposal Tuesday night, an ominous sign for a direly needed legislative accomplishment for President Donald Trump and his party.
The special counsel investigating Russian meddling in the presidential election last year dropped two bombshells Monday, announcing a guilty plea from a Trump campaign foreign policy adviser to lying to the FBI about contacts with Russian operatives, and unsealing charges of money laundering and tax evasion against two top Trump campaign figures.
Republican senator Tom Cotton of Arkansas said repealing the Obamacare individual mandate would save $300 billion over the next 10 years.
The White House may back the first hike in the federal gasoline tax in decades in order to pay for President Trump’s $1 trillion infrastructure package.
The federal government collected approximately $3.3 trillion in taxes in fiscal year 2017, but the federal government still ran a $666 billion deficit during that time, according to the latest monthly Treasury Department statement.
President Donald Trump's tax reform framework could raise GDP by as much as 5 percent and wages by as much as 7 percent, according to a new study from Boston University economists.
Federal taxpayer funding generally isn’t allowed to be spent on abortions, but Republicans say they have spotted a loophole in which tax-free municipal bonds have been used to put federal cash on the line in order to help build abortion clinics — including Planned Parenthood’s headquarters in New York.
President Donald Trump told House Republicans on Sunday that if they stand in the way of his push for broad tax reform, it could come back to hurt them in the 2018 midterm elections.
The Internal Revenue Service will not accept electronically filed tax returns for the upcoming filing season in which people fail to note whether they have health insurance, according to an agency announcement that is a reversal of informal policy under the Obama administration.
Republican lawmakers are considering indirect paths to meeting President Donald Trump’s goal of slashing the corporate tax rate to 20 percent, one of the toughest challenges they face in trying to overhaul the U.S. tax code.
The majority of households paying the Obamacare penalty in 2015 were low- and middle-income households, according to the most recent data from the Internal Revenue Service.
For 60 years, ministers and clergy in the U.S. have relied on an IRS law that allows them a tax-exempt housing allowance. Now that key exemption is at risk.