Understanding Trump’s tax promise on tips in the GOP budget bill
Trump’s Tax-Free Tips Proposal Advances NEW YORK — President Donald Trump’s promise to eliminate taxes on tips is moving closer to becoming a reality as part of the 2024 campaign. This concept has gained strong support among Republicans, particularly after a major tax-cut package was passed early Thursday. Surprisingly, the Senate approved this idea unanimously. […]
Some homeowners may receive a significant tax break from the new GOP tax bill. Here’s what to understand.
Potential Tax Credit for Homeowners in the US A significant tax credit might be on the horizon for some homeowners in the US, thanks to a large budget package that was presented to the House early Thursday. The bill, known as the One Big Beautiful Bill Act, suggests increasing the state and local tax credit […]
Tax Cuts in GOP Bill Are Insufficient for Working Families, Biden and Democrats Have Improved Lives
Wasserman Schultz Critiques Republican Tax Bills During a segment on News Nation’s “Balance,” Rep. Debbie Wasserman Schultz (D-FL) criticized Republican tax and spending proposals, describing them as offering mere “crumbs” to working and low-income families. She asserted that former President Joe Biden and the Democrats have made significant improvements for these groups. Wasserman Schultz pointed […]
New legislation suggests a 50% tax on foreign acquisitions of U.S. land during the housing crisis.
Foreign entities are acquiring U.S. real estate while American citizens struggle to buy homes, this is according to Representative Pat Harrigan from North Carolina. He spoke to Fox News Digital about new legislation aimed at tackling this issue. Harrigan’s proposed legislation, known as the Real Estate Interrelations Act, seeks to impose a 50% tax on […]
House Republican tax bill approves a $40,000 limit on the ‘SALT’ deduction. Here are the beneficiaries.
House Proposes Changes to SALT Deductions Jason Smith (R-MO), who is the chairman of the House Ways and Means Committee, is set to hold a press conference on May 13, 2025, just before a markup hearing at the Longworth House Building on Capitol Hill in Washington, DC. On Thursday morning, House lawmakers approved modifications to […]
House approves Trump’s major tax and spending plan after months of negotiations – US politics live
Trump Tax Cuts Bill Wins for the President and Passes US Homes President Donald Trump’s comprehensive tax and spending bill passed Thursday in the Republican-majority House of Representatives, marking a political win for the president amid ongoing debates over tax policies and spending cuts. The bill is currently under consideration by Senate lawmakers. More updates […]
Hong Kong officials attempting to undermine independent media with unusual tax investigations
Tax Audits Targeting Journalists in Hong Kong Authorities in Hong Kong are reportedly conducting what many believe to be arbitrary tax audits on journalists and media organizations. Serena Chen, the leader of the Hong Kong Journalists Association, described the accusations from the inland revenue department as “strange” and “irrational.” She stated that requests for audits […]
Trump’s tax and spending measure set for House vote following important committee approval
Trump’s Big Bill Moves to House Vote President Donald Trump’s ambitious “Big Beautiful Building” bill is set for a House-wide vote after a crucial committee has given it the green light. The House Rules Committee convened at 1 AM on Wednesday to push this substantial legislation forward, aiming to meet Mike Johnson’s deadline for sending […]
Rep. Mike Lawler highlights $40K SALT deduction limit for New York as House advances Trump’s tax plan
Rep. Mike Lawler Celebrates Significant Tax Credit Increase WASHINGTON – Rep. Mike Lawler (R-NY) is marking an 11-hour agreement that brings a 400% increase in state and local tax (SALT) credits, part of President Trump’s “one big beautiful bill.” “For the middle class, this represents a true win, particularly in places like New York,” Lawler […]
Effects of Trump’s tax cut
President Trump’s proposed legislation aims to extend previous tax cuts that were set to expire soon. This new bill, dubbed “Reduce Taxes and Expenditures,” is part of a broader Republican effort to maintain the lower tax rates instituted in the past few years. The focus of this legislation is to keep personal income tax rates […]