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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 has asked House Speaker Mike Johnson to include a tax hike on rich Americans in the sprawling fiscal package lawmakers are putting together, according to two people familiar with the request, reviving an idea that many Republicans have opposed. Mr. Trump wants to create a new top income bracket for people making more…
President Trump said on Friday that Harvard would lose its tax-exempt status, repeating his intent to enlist the Internal Revenue Service in his feud with the wealthy research university and upend the school’s finances. “We are going to be taking away Harvard’s Tax Exempt Status. It’s what they deserve!” Mr. Trump wrote on social media….
Insulin, heart treatments and antibiotics have flowed freely across many borders for decades, exempt from tariffs in a bid to make medicine affordable. But that could soon change. For months, President Trump has been promising to impose higher tariffs on pharmaceuticals as part of his plan to reorder the global trading system and bring key…
About 22,000 employees at the Internal Revenue Service have signed up for the Trump administration’s latest resignation offer, according to four people familiar with the matter, an exodus that could weaken the agency’s ability to collect taxes. The I.R.S. had about 100,000 employees before President Trump took office. Roughly 5,000 employees have resigned since January,…
The Senate approved Republicans’ budget blueprint just after 2:30 a.m. on Saturday to clear the way for passing President Trump’s domestic agenda, after Democrats forced an overnight session to protest the G.O.P. push to deliver what the president has called “one big beautiful bill” of spending and tax cuts. The 51-to-48 vote, mostly along party…
The Senate plunged into a political showdown over President Trump’s domestic agenda on Friday, as Democrats began forcing dozens of votes planned for an overnight session to protest Republicans’ push to deliver “one big beautiful bill” of spending and tax cuts. The G.O.P. needs to pass its budget blueprint to unlock a process called reconciliation,…
The Internal Revenue Service is preparing to shed as much as 50 percent of its staff, according to four people familiar with the matter, a significant cut that could jeopardize the agency’s ability to complete its basic mission of collecting taxes. The I.R.S. started the Trump administration with roughly 100,000 employees. It has already laid…
The Republican Party is all too often effective at campaigning and winning elections, but there’s another fact about it that a lot of Americans forget: The Republican Party flat out sucks at governing. Even Tucker Carlson agrees with this. For all the huffing and puffing on the campaign trail in 2016, the first Trump administration…
