Taxes

Corporate Tax Cuts Don’t Boost Incomes for Majority of Americans: Study

By Michael Rainey

Although Republicans have sold their tax cuts as a sure-fire way to create jobs and boost incomes for middle- and working-class Americans, a recent economic study casts more doubt on that still-...
Government Revenues Drop as Tax Cuts Kick In

By Michael Rainey

Corporate tax receipts in June were 33 percent lower than a year ago, according to data released by the Treasury Department Thursday, as companies made smaller estimated payments due to the reduction...
Your Gym Membership Could Soon Be a Tax Break

By The Fiscal Times Staff

A bipartisan bill passed by the House Ways and Means Committee on Thursday would allow taxpayers to claim new tax breaks for gym memberships, exercise classes and other fitness expenses, The Wall...
Some GOP Senators Want to Slash Gas Taxes — and Federal Highway Spending

By Michael Rainey

Republican Sens. Mike Lee, Marco Rubio and Ted Cruz introduced a bill Tuesday that would dramatically reduce federal involvement in transportation systems in the U.S. The Transportation Empowerment...
The Steep Costs of Tax Cuts Since 2001

By Michael Rainey

Tax cuts enacted since the turn of the 21 st century have added nearly $6 trillion to the deficit while disproportionately benefiting wealthy households, according to a new study from the Institute...

Why the GOP Tax Cuts May Not Boost Growth

By Michael Rainey

Experts have sparred over just how much economic growth will be generated as a result of the Republican tax law, but most agree that the permanent reduction in corporate tax rates and temporary drop...
GOP Lawmakers Push to Make It Harder to Raise State Taxes

By Yuval Rosenberg

Republican state lawmakers are taking preemptive action to make it harder for Democrats to raise taxes and enact a progressive agenda if they score big election victories this year. The Washington...
Could California’s Gas-Tax Battle Decide Who Controls Congress?

By The Fiscal Times Staff

California lawmakers last year passed a 12-cent gasoline tax to fund a campaign to fix the state’s roads and bridges. Now, The New York Times’ Adam Nagourney reports, a ballot measure to repeal the...
Worrying About the Next Recession

By Yuval Rosenberg

When will the next recession hit? It’s been more than nine years since the Great Recession officially ended , and the U.S. economy is about a year away from passing the 1990s expansion to become the...
Hitting the Gas: 7 States Raise Fuel Taxes

By Yuval Rosenberg

Seven states raised their gas taxes Sunday. “The reasons for these increases vary, but most will inject new funds into infrastructure maintenance and construction projects,” according to Carl Davis,...

Why Republican Tax Cuts Are a Problem

By The Fiscal Times Staff

The Washington Post’s Jared Bernstein argues that the United States’ main fiscal problem can be boiled down to this: “our tax structure does not collect enough revenue to support the government...
So Much for ‘Tax Reform’?

By Yuval Rosenberg

For years, economists and tax experts have found a broad consensus around the idea that the U.S. tax code needed to be cleaned up. Tax reform, in Washington parlance, generally meant an overall...
How Americans Think the Trump Tax Cuts Will Affect Them This year

By Yuval Rosenberg

The Federal Reserve Bank of New York surveyed heads of households about the new tax law. It found that about 37 percent expect their financial situation will improve over the next 12 months as a...
Tax Cuts Vs. Gas Prices

By Michael Rainey

Most Americans haven’t noticed much of a tax cut windfall in their paychecks, but there’s a good chance they’re noticing gas prices as they climb toward $3 a gallon, and that could have negative...
Corporate Tax Cuts a ‘Gift That Keeps on Giving’

By Michael Rainey

If the first quarter financial results are any indication, the Republican tax cuts are providing larger-than-expected benefits for American corporations, says Bloomberg’s Stephen Gandel . And if the...