The GOP tax bill is under a microscope as tax analysts, lobbyists and accountants try to figure out what the proposed changes will mean. One of the details that may lead to a fight is how the plan treats so-called “pass-through” businesses, privately held companies that make up 95 percent of U.S. businesses, whose profits […]

The GOP tax bill as written gets rid of deductions for state and local income taxes and would cap state and local property tax deductions at $10,000. It would also limit the mortgage interest deduction by capping it at $500,000 for future home purchases. These provisions will have a bigger impact in some parts of […]

After months of big promise and bullet-pointed lists, the GOP is out with a tax bill today. It is a long way from final. Democrats, business groups and others are already pushing back hard against elements of the plan. Among the changes the GOP is touting loudest and seems most committed to is a plan […]

Today is not the day we get a look at the GOP tax plan. Late last night, the House Ways and Means committee delayed the scheduled release of the text of the bill by a day. For now, there are many details to be worked out before the big reveal. Word is, Republicans are still […]

Today, we’re expecting to get details on the proposed Republican tax bill. One thing to look out for is a possible change to the way top earners are taxed. A so-called millionaire’s tax has been floated to a mixed reception. Some say such a tax would be aimed at making the bill more sellable.  Click […]

With all the focus on the Republican tax plan due out this week, we take a look at some of the ways they may pay for it: cuts to Medicaid and Medicare. The Republicans’ budget blueprint calls for funding reductions to both programs. What might that mean for low-income people and seniors who depend on […]

The battle lines are being drawn as the tax bill nears.

The Senate is pushing ahead on a budget vote this week. That framework would move the GOP a step closer to the tax overhaul it has promised. The Senate plan allows for as much as $1.5 trillion in tax cuts over the decade. Those cuts could blow a $2.4 trillion hole in the budget, the […]

The Senate is expected to take up a budget framework this week. If it passes, the GOP will be one step closer to the tax overhaul it so desperately wants. President Donald Trump promised yesterday in a Rose Garden press conference with Senate Majority Leader Mitch McConnell that the tax plan is on track. But […]