Taxes May 14, 2025
The draft framework put out Monday by the Ways and Means Committee takes aim at billions of dollars of incentives in the Inflation Reduction Act, including tax credits for electric vehicles and solar and wind projects.
Taxes May 14, 2025
House Republicans could land on a compromise on the state and local tax deduction on Wednesday, a deal that would represent a breakthrough in one of the thorniest policy debates in President Donald Trump’s economic package.
Taxes May 13, 2025
New York Reps. Mike Lawler and Nick LaLota say they plan to vote against the president’s tax cuts package because it only includes an increase in the SALT cap to $30,000, too low for the middle-class and affluent communities they represent.
Taxes May 13, 2025
House Republicans are proposing to eliminate a tax credit for electric vehicles and phase out incentives to develop clean-energy projects to help pay for President Donald Trump’s massive tax package.
Taxes May 12, 2025
The House Ways and Means Committee release of the tax measures, ahead of planned debate on the panel Tuesday, is a sign the Republican-controlled chamber is moving toward a floor vote this month on the legislation.
Taxes May 9, 2025
The House Ways and Means Committee on Friday night released a partial version of President Donald Trump’s tax proposal that calls for increasing the maximum child tax credit to $2,500 and raising the estate tax exemption to $15 million.
Taxes May 9, 2025
Rep. Nicole Malliotakis (R-NY) suggested she backs the GOP leadership proposal to increase the SALT cap to $30,000 from the current $10,000, even as other Republican lawmakers trashed it as a non-starter.
Taxes May 9, 2025
The president’s proposal calls for creating a new 39.6% tax bracket for individuals earning at least $2.5 million, or couples making $5 million.
Taxes May 5, 2025
The White House hasn’t provided any details of how the tax break would work, but the president touted it during the 2024 campaign and reiterated his support last month.
Taxes May 2, 2025
President Donald Trump wants the pharmaceutical industry to shoulder part of the cost of his tax cuts, pressing Republicans to force drugmakers to accept lower prices on prescriptions covered by Medicaid.
State and Local Taxes May 2, 2025
The $10,000 cap on SALT, one of the most contentious issues in the GOP debate on its giant tax bill, remained unresolved as lawmakers left Washington on Thursday.
PCAOB April 30, 2025
Draft legislation being considered by the House Financial Services Committee proposes to eliminate the Public Company Accounting Oversight Board and fold its responsibilities into the Securities and Exchange Commission.