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.
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.
Taxes April 29, 2025
A bipartisan duo is reintroducing a popular measure this week that would expand the low-income housing tax credit with an eye toward including it in Republicans’ budget reconciliation package.
Taxes March 19, 2025
If an Indiana or Ohio bill passes, it would mark the first time a GOP-led state implemented a refundable child tax credit.
Legislation March 12, 2025
But with most Democrats opposed and 60 votes needed in the Senate to avoid a filibuster, it is unclear if the measure has the support needed in that chamber to pass.
Taxes February 26, 2025
Chances for early action on Donald Trump's tax cut plans improved as House Republicans passed a budget blueprint Tuesday calling for deep cuts in safety-net programs such as Medicaid.
Taxes February 20, 2025
No one can say with certainty but lawmakers are hopeful that the partisan bickering that's dominated Washington debate will subside on the disaster tax relief issue.
Taxes February 19, 2025
The quarter percent federal excise tax, also known as the handle tax, "does nothing except penalize legal gaming operators for creating thousands of jobs," said U.S. Rep. Dina Titus, D-Las Vegas.