Taxes

Government Has Been a Drag on the Economy – but That’s About to Change

By Yuval Rosenberg

The U.S. economy is about a year away from breaking the 1990s record for the longest expansion in U.S. history — and yet the recovery from the Great Recession has also been among the weakest growth...
Senate Republicans on the Push for Tax Cuts 2.0: Meh

By Yuval Rosenberg

House Republicans are forging ahead with plans for another round of tax cuts this year. Senate Republicans say they’ve got other things to deal with, The Wall Street Journal’s Richard Rubin reports...
A Warning About the Next Economic Crisis from Leaders Who Battled the Last One

By Yuval Rosenberg

Three top officials who helped steer the U.S. through the financial crisis a decade ago warned Tuesday that, while the banking system has clearly been strengthened, policymakers might find it harder...
Kevin Brady: We’re On Track for Tax Cuts 2.0

By Michael Rainey

Republicans plan to vote on a second round of tax cuts in September, House Ways and Means Committee Chairman Kevin Brady (R-TX) told Fox Business Network’s Maria Bartiromo Wednesday morning. Brady...
GOP Tax Cuts Aren’t Boosting Wages

By Michael Rainey

Inflation-adjusted wages have fallen for three straight quarters on a year-over-year basis, according to data released by the Labor Department Tuesday. MarketWatch’s Steve Goldstein provided a chart...

Kudlow: Tax Cuts 2.0, 3.0 and 4.0 May Be Coming

By Yuval Rosenberg

Larry Kudlow, director of President Trump’s National Economic Council, sat down for a wide-ranging interview with CNBC’s Jim Cramer Wednesday morning in New York. Kudlow made headlines last month by...
The White House Makes a ‘Trillion-Dollar Admission’

By Yuval Rosenberg

The White House Office of Management and Budget on Friday released its updated annual budget request , known as the mid-session review. The numbers don’t mean much given that the president’s budget...
4 Blue States Sue Over GOP Tax Law

By Michael Rainey

Four states sued the federal government Tuesday, claiming that the new $10,000 limit on state and local tax (SALT) deductions is an “unconstitutional assault on states’ sovereign choices.” The suit...
Treasury Rule Change Protects ‘Dark Money’ Donors

By Yuval Rosenberg

The U.S. Treasury said Monday that it will no longer require certain tax-exempt organizations to identify their donors to the IRS. The policy change will free labor unions and other groups, including...
Stock Buybacks Soar to Another Record

By Michael Rainey

U.S. companies announced more than $346 billion in share buybacks in the second quarter of 2018, according to data released by the investment research firm TrimTabs last week, shattering the previous...

Team Trump Sees a Long-Term Boom Ahead. The IMF Disagrees.

By Yuval Rosenberg

The tax cuts and spending increases enacted by the Trump administration and Congress will increase the risks to the U.S. and global economy, the International Monetary Fund said Thursday in an annual...
Are the Trump Tax Cuts Boosting U.S. Consumers?

By Michael Rainey

Americans have ramped up their spending over the last few months. Retail sales rose 0.8 percent in May, up 5.9 percent from a year ago, and now some economists are forecasting GDP growth near 4...
A Trade War Could Erase the Tax Cut Boost: Gary Cohn

By Michael Rainey

President Trump’s former top economic adviser warned Thursday that a developing trade war could wipe out the benefits of the GOP tax cuts. Speaking at an event hosted by The Washington Post, Gary...
Infographic of the Day: Corporate Winners and Losers Under the New Tax Law

By The Fiscal Times Staff

Bloomberg Tax breaks down the new tax law’s short-term effects on the top 50 companies on the Fortune 500. Forty-three of the companies saw one-time benefits totaling $137 billion, while seven booked...
Congress Under Pressure to Fix New Tax Law

By The Fiscal Times Staff

Lawmakers are facing growing pressure from industry groups to fix glitches in the GOP tax law, reports The Hill , but it’s unclear how or when those corrections will be rolled out. The task is...