A postelection look at how tax laws are likely to change, especially the outlook for the 2017 tax cuts.
So far, President Trump wants to slash individual tax rates -- cutting the top rate from 39.6% to 35% -- and reduce the number of totalrates from seven to three. He also wants to cut the top tax rate for all businesses to 15%, far below the current top rates. The administration's...
WASHINGTON (CBSNewYork/AP) --President Donald Trumpwants to simplify the personal tax code by cutting rates and eliminating deductions used by more affluent Americans. White House economic adviser Gary Cohn said the plan would cut the top income tax rate from 39.6 percent to 35 percent. It als...
Harris has not said if she would also call for cuts to taxes of overtime pay. Corporate tax rates Trump’s plans include proposed breaks for businesses, too. He’s called for lowering the U.S. corporate tax rate from 21% to 15%, but only for companies that produce in the U...
Read: Why Trump’s tax cuts and tariff plans could face roadblocks from bond markets The yield on the 10-year Treasury note BX:TMUBMUSD10Y has risen 70 basis points since the Fed cut rates by an aggressive half percentage point in September. The Fed won’t rethink the path of interes...
A faster inflation growth might lead the Federal Reserve to raise interest rates faster than expected, which would result in further appreciation of the U.S. dollar, according to economists. "An appreciation of the U.S. dollar is the last thing that the country needs if it is to reduce it...
"They have to consider base-broadeners to make this work," Pomerleau said. Don't miss these top stories onTheStreet: Banks Give Wall Street a Boost After Tax Framework, but Nike Weighs on Dow Missed Nvidia's Rally? Stay Ahead of the Next Big Explosive One ...
The tax plan made the U.S. progressive income tax more regressive. Tax rates have been lowered for everyone, but they've been lowered the most for the highest-income earners. The Trump tax cuts were estimated to cost the government $1 trillion, according to the Joint Committee on Taxation...
Donald Trump's 2024 economic agenda is all about big changes totaxes, Social Security, and even food stamps.First, Trump wants toexpand the tax cuts he initiated in 2017 by lowering corporate tax rates even further, from 21% to 15%.He's also aiming to eliminate taxes on Social Security...
Corporations would like to see action on a host of issues, from corporate income tax rates to the excise tax on stock buybacks enacted during the Biden administration,bonus depreciation, the R&D tax credits, andsmall business tax policy. ...