Free Republic

Despite recently passing legislation that will impose hundreds of billions of dollars in taxes on America’s job creators, my Democratic colleagues are using a new Government Accountability Office report as justification for a push to raise taxes even further on businesses they think aren’t paying their “fair share.” But the report, which examines the average effective tax rates of large corporations before and after the Tax Cuts and Jobs Act of 2017, argues more in favor of the GOP reforms than Democrats admit.Issued on the request of the Democratic leaders of the Senate Finance and Senate Budget committees, the report...

Rep. Thomas Suozzi (D-NY) said Tuesday he would not support the $3.5 trillion infrastructure bill if Democrats would not increase the state and local tax (SALT) deduction, which primarily benefits wealthy Democrat states.

High-tax states face a choice: reduce taxes or lose taxpayers. Stephen Moore and Art Laffer forecast in the Wall Street Journal the loss of 800,000 California and New York residents over the next three years. The exodus, the economics experts say, comes because of the tax bill, which limits the state and local tax (SALT) deduction to $10,000, passed in December. Previously, the feds forced no monetary limit on filers. California taxes individuals earning $1 million or more at a rate of 13.3 percent. New York levies an 8.8 percent rate upon individuals making a similar amount of money annually....

We've all heard the stories about how several big companies decided to give bonuses immediately after the December 2017 tax reform was passed... but the mainstream media quickly dropped the story. What we haven't heard about over the past week or so is how the list of companies has grown. (compliments to the good folks at Americans for Tax Reform for committing to build a running list online). Some are relatively small businesses, like banks that have a couple hundred employees... but it's remarkable how many big companies have jumped on the bonus bandwagon too. For example: - AT&T: $1000...

The Senate approved the Republican tax-cut bill in a 51-48 vote on Wednesday morning, inching closer to finishing off the first major legislative victory of President Trump’s tenure. The party-line Senate vote came hours after the House on Tuesday approved the sweeping legislation in a 227-203 vote. But the House will have to vote again on Wednesday to get the bill to the White House because of a ruling by the Senate parliamentarian that two provisions in the House-passed bill didn't comply with budget rules that Republicans are using to prevent Democrats from mounting a filibuster. The 11th hour procedural...

House Republicans passed their $1.5 trillion tax-cut package Tuesday afternoon, kicking the action over to the Senate as the GOP speeds toward swift passage of President Trump’s top legislative priority and the most significant rewrite of the tax code in three decades. “Today, we’re delivering on our tax reform promise to the American people,” said Rep. Kevin Brady, the House’s top tax-writer. “For the first time in over three decades, we’re delivering a new tax code that provides more, fairer taxes, and bigger paychecks to Americans across the country.” The House passed the plan on a 227-203 vote, and the...