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The strategy is an old one for Republicans: Cut taxes for a few years, avoiding the need to account for their cost over the long term, and bet that the reductions become popular enough that Congress will later vote to continue them. The tax bill that Republicans are now putting together on Capitol Hill takes…
Gerhard Randers-Pehrson, an 81-year-old resident of Ossining, N.Y., believes the $10,000 cap should go up — but not too much. While Mr. Randers-Pehrson, a retired research scientist, said he paid $16,000 in state and local taxes last year, he does not expect to personally benefit from a higher cap. He would take the standard deduction…
President Trump said he would impose a 100 percent tariff on movies “produced” outside the United States, proclaiming in a social media post on Sunday that the issue posed a national security threat. Mr. Trump said he had authorized Jamieson Greer, the United States Trade Representative, to begin the process of taxing “any and all…
New Yorkers — and residents of many other states — have paid more for entertainment in recent years than just their Netflix or Hulu subscriptions. Each New York household has also contributed about $16 in taxes, on average, toward producing the drama series “Billions” since 2017. Over that period, each household has also paid roughly…
Gov. Kathy Hochul on Monday announced the framework of a roughly $254 billion state budget agreement, ending a monthlong stalemate over public safety issues that the governor had insisted on including in the fiscal plan. The budget deal, which will now go to the Legislature for a full vote, includes changes to make it easier…
Oil and gas executives will meet with President Trump at the White House on Wednesday as they seek to influence him on tariffs, tax credits and deregulation. Some executives in the industry, which spent more than $75 million to help elect Mr. Trump, are increasingly frustrated with his agenda. Tariffs are making essential materials like…
Mercedes-Benz said on Thursday that the latest version of its least expensive sedan would be available first as an all-electric car and then as a hybrid. And the company will no longer sell a gasoline-only version of the car. That’s a big break from how Mercedes and other established carmakers have typically operated. Until recently,…
American manufacturing has been in the doldrums for years, battered by high borrowing costs and a strong dollar, which makes exports less competitive. But there has been a bright spot: billions of dollars flowing into factory construction, signifying that a potential rebound in production and employment is around the corner. The flood of investment has…
Since their party swept to power, Republicans have entertained visions of an all-inclusive tax cut — one that could permanently lower rates for individuals, shower corporations with new incentives and deliver President Trump’s sprawling suite of campaign promises. If only it were so easy. House Republicans are preparing to adopt a budget plan that puts…
President Trump was supposed to cap his first week since returning to the White House with a speech on Saturday in Las Vegas about an economic plan that he suggested was crucial to his election win. But despite the massive sign by the stage stating “NO TAX ON TIPS,” any details on how he would…
