Taxes

Could Another Round of Tax Cuts Backfire on Republicans?

By Yuval Rosenberg

Republicans face a dilemma in their quest to pass another massive tax cut ahead of November’s midterm elections. Party leaders have pledged to make permanent individual tax cuts in the tax overhaul...
Why the Trump Tariffs Could Cost More Jobs Than They Save

By Michael Rainey

The tariffs President Trump announced – including a 25 percent levy on steel imports, with some notable exemptions – are meant to protect American jobs, but analysts at the Federal Reserve Bank of...
Banks Score Big from New Tax Law: $2.5 Billion in One Quarter

By The Fiscal Times Staff

The Wall Street Journal’s Michael Rapoport reports : “Overall, the combined earnings of Goldman and the four major national banks — JPMorgan Chase & Co., Wells Fargo & Co., Citigroup Inc. and...
Tax Day, Take 2: Filers Get More Time After IRS Glitch

By Yuval Rosenberg

Happy Tax Day … again. The IRS e-file system that was down for most of Tuesday is back up, but the outage led the agency to extend its filing deadline by a day, meaning taxpayers have until midnight...
Why All the Warnings About Unsustainable National Debt Could Be Wrong

By Michael Rainey

International economists are warning about rising global debt levels and deficit hawks in Washington are increasingly worried about what they see as unsustainable debt levels in the U.S., but a new...

The US Has an Exceptional Debt Outlook – and Not in a Good Way

By Michael Rainey

The International Money Fund’s latest global fiscal survey warns that in five years, the U.S. debt-to-GDP ratio will be higher than Italy’s, a nation not generally known for its exemplary fiscal...
Why the Media War Over Trump's Tax Cuts Is Just Getting Started

By Yuval Rosenberg

Tax Day is, of course, the perfect time for Republicans and Democrats to resume their messaging battle over the GOP tax law that passed late last year. Republicans took to TV and social media to hail...
The Biggest Winners from the GOP Tax Cuts (Hint: It Isn't Workers)

By Yuval Rosenberg

This won’t help the GOP’s tax cut message: U.S. companies are using the benefits of their tax cuts to reward shareholders and management far more than they are on hiring and pay raises, according to...
Computer Problems Plague the IRS on Tax Day … and Bigger Troubles May Lie Ahead

By Yuval Rosenberg

It wasn’t a very happy Tax Day for the IRS, which announced it was “experiencing technical difficulties” with some computer systems and temporarily couldn’t accept returns from tax preparers,...
What Americans Really Think About Taxes

By Yuval Rosenberg

Happy Tax Day! Ok, so maybe you’re not actively celebrating the IRS deadline, but Americans are now less likely than at any time since 2012 to say that the federal income taxes they pay are too high...

Fixing the Tax Bill: Errors, Uncertainty and an Opportunity for Democrats

By Yuval Rosenberg

The GOP tax bill needs some fixing. The massive tax cut, rushed through Congress late last year, includes “a host of errors and ambiguities … that businesses big and small are just now discovering...
What We're Reading: March 9, 2018

By The Fiscal Times Staff

Here's what we have our eye on today: NEWS Rep. Diane Black Pushing for Anti-Abortion Language in Spending Bill – Washington Examiner Omnibus Action Next Week Possible, but Obstacles Still Exist –...
The Tax Reform Saga Will Continue

By Michael Rainey

Scott Greenberg of the Tax Foundation has a reminder for anyone following the fiscal debate in Washington: “Tax Reform Isn’t Done.” That’s the title of a new paper from Greenberg and the topic of a...
Those Tax-Cut Bonuses May Be Fleeting

By Michael Rainey

Plenty of questions remain about how workers will ultimately fare from the Trump tax overhaul. The White House has cited a rash of bonus payments from major corporations as proof that workers are...
Many Americans Still Aren’t Seeing GOP Tax Cuts in Their Paychecks

By Michael Rainey

Some new polls out this week suggest that the GOP tax cuts aren’t making much of difference to many Americans. Half the respondents in a Politico/Morning Consult poll conducted between March 1 and...