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Tag: Tax Cuts and Jobs Act

President Donald Trump

Trump is already backtracking on his promise for a ‘very major tax cut’ before the midterms

President Donald Trump's promise of a second tax cut aimed at the middle class is quickly unraveling, since getting such a bill passed before the midterm elections in November would be practically impossible.

Republican Patrick Morrisey is betting that bipartisanship is dead in his Senate race against Democrat Joe Manchin in deep-red West Virginia

"I’m the polar opposite of flip-flopper Joe Manchin. Literally, you should go online and see this. If you go online you start to see the memes..." Morrisey said.

One of Republicans’ biggest promises about their tax law is coming apart at the seams

Republicans claimed that the new Tax Cuts and Jobs Act would pay for itself or even decrease the federal deficit. But based on new numbers from the Treasury Department, that doesn't appear to be happening.

House Republicans just passed their huge ‘Tax Cuts 2.0’ bill, but it’s probably dead in the water

House Republicans passed their "Tax Cuts 2.0" package on Friday, which would extend the Tax Cuts and Jobs Act's individual tax cuts. The extension would provide a small boost to the economy and mainly favor wealthier Americans. The bill is also likely dead on arrival in the Senate.
Gary Cohn.

Gary Cohn confirmed a major revelation about the GOP tax bill fight from Bob Woodward’s new book

Gary Cohn confirmed on Monday that President Donald Trump wanted to raise the top marginal tax rate to 44%, during an event in New York, confirming a detail in Bob Woodward's new book "Fear: Trump in the White House." Cohn declined to answer more questions about Woodward's book.

A Democratic congressman is taking the first shot at a repeal of Trump’s tax law

As the new tax cuts ushered in solely by Republicans begin to take effect, one Democratic congressman is unveiling a repeal plan, signaling that President Donald Trump's primary opposition is serious about reversing his signature legislative achievement.

Republicans want to make the individual tax cuts permanent — or at least score a political win in the process

Republicans are preparing to bring up a vote that would make the income tax rate reductions for individuals and families that were slated to sunset in five years as part of the new tax law permanent, attempting to create a win-win scenario that could be politically lucrative.
US President Donald Trump speaks during a roundtable discussion about the Republican $1.5 trillion tax cut package he recently signed into law on April 16, 2018.

One of Trump’s biggest accomplishments could make the next recession worse

It's 'happy hour' in America, the firm says, and a hangover is coming.
A couple embraces in front of a Bank of America sign on a building in Times Square in New York.

Bank of America is gaining ground after earnings

The bank said it paid an effective tax rate of 9%.

Manhattan home sales plunge to the slowest pace since 2009 as buyers fight for bigger discounts

Manhattan's housing market is "resetting," said Jonathan Miller, the CEO of the real-estate appraiser Miller Samuel.