Harris has not said that she would try to preserve Trump-era tax cuts, which are set to run out at the end of next year. But, like Biden, she has vowed not to raise taxes for Americans who earn less than $400,000 annually. Tariffs Angling to bring back more overseas jobs ...
Trump or Harris wins the presidential election, tax policy will be high on Congress’ agenda in 2025. That’s because Trump-era tax cuts, passed in 2017, are set to expire. But Hines said he thinks Congress will be in no hurry to add “vast amounts of complexity” to the tax code....
Trump’s radical tax plan established the global intangible low-taxed income (GILTI) rules and the base erosion anti-abuse tax (BEAT). These provisions brought back an old idea in US tax policy: minimum tax rates. Many of the TCJA provisions are set to expire in th...
Among other claims, the campaign accused Harris of wanting to let the Trump-era tax cuts expire and of seeking to ban gas-powered cars. Both accusations included links to articles from 2019, when Harris was a Democratic presidential candidate. The Biden administration does not seek to ban the ...
clinch the presidency, Senate and House — includes the extension of the Trump-era tax cuts that expire next year. He did not mention the state and local tax deduction, or SALT, cap that was part of that legislation — and that D’Esposito and other blue-state Republicans want...
clinch the presidency, Senate and House — includes the extension of the Trump-era tax cuts that expire next year. He did not mention the state and local tax deduction, or SALT, cap that was part of that legislation — and that D’Esposito and other blue-state Republicans...
• Taxes: The Trump administration is expected to focus on extending tax cuts introduced by the Tax Cuts and Jobs Act that are set to expire in 2025. The move will require approval from Congress. Extending Trump’s 2017 tax cuts would lower taxes by an average of $2,000 in 2026,...
The threshold for the medical expense deduction dropped from 10% to 7.5% of a taxpayer's AGI. This change was set to expire at the end of 2019, but the Further Consolidated Appropriations Act of 2020 resurrected it.1 Another important change is that the TCJA did away with the Pease limita...
Harris has not said that she would try to preserve Trump-era tax cuts, which are set to run out at the end of next year. But, like Biden, she has vowed not to raise taxes for Americans who earn less than $400,000 annually.
the Republicans have gained control of the Senate by a comfortable margin and the House of Representatives by a narrow margin. This enhances the chances that they will succeed inextending provisions of the Tax Cut and Jobs Actthat are set to expire next year and in modifying the tax code so...