Taxes

CBO Offers 121 Ways to Shrink the Deficit

By The Fiscal Times Staff

The Congressional Budget Office has released a 326-page guide that describes dozens of ways the federal government could reduce its large and growing budget deficit. The 121 policy options included...
Boxed In by Trump, GOP Hurtles Toward a Shutdown

By Michael Rainey

House Republicans considered moving forward with a bill that would have given President Trump the $5 billion he has demanded for border wall construction, but it looks like they’re leaving town...
Marco Rubio’s Surprise Critique of the GOP Tax Bill

By Michael Rainey

Sen. Marco Rubio (R-FL) tackled the decline of the American dream in an essay published by The Atlantic Thursday, and in doing so offered some sharp criticism of the 2017 Republican tax overhaul – a...
Moody’s Warns of Declining US Fiscal Strength

By The Fiscal Times Staff

Trump’s tax cuts combined with a slowing economy will diminish the United States’ “fiscal strength” over the next 10 years, Moody’s Investor Service said Wednesday. The gradual decline could pressure...
Inside the Remarkable — and Costly — Decline of the IRS

By Michael Rainey

Weighed down by budget cuts and staff reductions, the number of audits performed by the Internal Revenue Service has been dropping for years. A new report from ProPublica and The Atlantic takes a...

Taking the Sting Out of a New Tax on Nonprofits

By Michael Rainey

Under the 2017 tax law, some churches, charities and other nonprofit organizations are being hit with a new tax on the value of transportation benefits provided to employees, including free parking...
The 3 False Claims Trump Repeats Most

By Michael Rainey

Washington Post fact checker Glenn Kessler analyzed President Trump’s voluminous record of false claims to determine which specific issues crop up most frequently. The top three have a strong fiscal...
Poll of the Day: Paying More, Less or the Same After the New Tax Law?

By Yuval Rosenberg

A new poll from The Economist and YouGov finds a sizable partisan divide in American’s perception of how the new tax law will affect their finances, with 67 percent of Democrats saying they expect to...
How Congress Got So Broken

By Yuval Rosenberg

More than 50 House members chose not to seek re-election in 2018, and a new report from nonprofit groups Issue One and the R Street Institute examines what drove so many to that decision. The report...
A Plea from the Left and the Right to End ‘Temporary’ Tax Breaks

By Michael Rainey

There aren’t many issues that the left-leaning Economic Policy Institute and the right-libertarian, Koch-funded Freedom Partners can agree upon, but putting an end to Washington’s annual ritual of...

Tax Burden in France Now Highest in the World: OECD

By Michael Rainey

France is now the most heavily taxed developed nation, according to the latest annual review by the Organization for Economic Cooperation and Development. The OECD’s analysis includes federal, state...
4 Lessons from the GOP Tax Bill

By The Fiscal Times Staff

The Wall Street Journal’s Theo Francis says that while the Republican tax bill signed by President Trump a year ago has produced some obvious effects for U.S. businesses, including a solid boost to...
Why GM Pays Almost No Federal Income Tax

By Michael Rainey

General Motors has earned billions of dollars in the decade since its bankruptcy and bailout, but thanks to a provision in the tax code called "net operating loss carryforward," it has paid very...
One Simple Reason the GOP Tax Bill Has Stalled

By Michael Rainey

Republicans hold the majority in the House for a few more weeks, but that numerical advantage doesn’t mean much if lawmakers don’t show up to vote. Politico’s Brian Faler says that dozens of...
No Deal on Trump's Border Wall as Lawmakers Scramble to Avoid a Shutdown

By Michael Rainey

As negotiations to avoid a partial government shutdown next week continue, Democratic lawmakers have rejected a Republican proposal to spend $5 billion on the border wall over two years. “No matter...