Lisa McClain Emphasizes Tax Breaks for Working Families on Tax Day as Democrats Advocate for Higher Taxes on the Wealthy
House Republican Conference Chair Lisa McClain hosted a roundtable with various stakeholders, including Congress members, labor representatives, small business owners, manufacturers, farmers, and tax experts, to mark Tax Day on Wednesday. She noted that the working family tax cuts enacted last year have led to increased refunds, lower taxes on tips and overtime, and provided […]
Bessent: President’s Tax Cuts Compared to No Tax on Tips a Big Win for Workers
Tax Cuts Viewed Positively by Treasury Secretary Treasury Secretary Scott Bessent expressed optimism Wednesday about the tax cuts introduced in President Donald Trump’s “Big Beautiful Act,” calling them a “home run” for working-class individuals. According to him, 53 million Americans have utilized at least one of the new deductions implemented by the president. Bessent shared […]
Philadelphia’s Mayor Parker stands by ride-sharing tax amid criticism from Uber and Lyft
Philadelphia Mayor Pushes for Ride-Sharing Tax to Support Schools Philadelphia Mayor Sherrell Parker is advocating for a tax on ride-sharing companies to help fund the city’s school districts, despite resistance from major players like Uber and Lyft. At a press briefing on Wednesday, Parker reaffirmed her proposal for a $1 tax per ride as a […]
New York City Mayor Mamdani Unveils First ‘Tax the Rich’ Initiative
Mayor Announces New Tax on Luxury Properties New York City Mayor Zoran Mamdani chose Tax Day to unveil a new annual tax targeting high-value properties owned by those who don’t reside in the city full-time. This measure aligns with his broader initiative to increase taxes on affluent residents and property owners. Mamdani, in a recent […]
Business Update: It’s Tax Day. Democrats Believe You Should Contribute Your Fair Share. I Agree.
What does your “fair share” really mean? You’ve likely heard this phrase from various Democrats—figures like Bernie Sanders, Elizabeth Warren, and Joe Biden—who insist that the affluent need to “pay their fair share” of taxes. While there’s some truth to their argument, the idea of “fair” they use differs quite a bit from what many […]
Summary: IRS reports average tax refund is nearly $3,500 this year
Tax Refunds and Recent Events This year’s tax refunds are on the rise, though they haven’t reached the levels anticipated by the Trump administration, according to the IRS chief during a Senate hearing. While he’s addressing unpaid taxes, the focus is also on the current tax season. As the deadline for filing taxes approaches, the […]
Hochul suggests a tax on luxury second homes in NYC valued over $5 million.
New York City Proposes Tax on Luxury Second Homes Mayor Zoran Mamdani of New York City has expressed support for a new tax targeting luxury second homes owned by extremely wealthy individuals, projecting that it could raise at least $500 million annually. Governor Cathy Hochul had previously introduced this tax, known as the pied-à-terre tax, […]
Florida has the highest average tax refund in the US at $4,433, according to a report.
Last-Minute Tax Tips as Deadline Approaches As the deadline to file 2025 tax returns looms, CPA and TurboTax expert Lisa Greene-Lewis offers valuable last-minute advice for taxpayers. Many Americans will find their refunds this year to be larger, on average, compared to last year. A recent analysis reveals that the estimated average refund in 2026 […]
Data reveals 53 million taxpayers took advantage of Trump’s tax cuts this season
Tax Season Update This filing season, over 53 million taxpayers have taken advantage of at least one of President Donald Trump’s major tax cuts. The average tax refund this year is around $3,400, according to the latest Ministry of Finance data released on Tax Day. The figures reflect the first tax filing season since the […]
New Democratic plan proposes increasing the Earned Income Tax Credit to $5,500 for each child.
McDonald Rivett Proposes Expanded Tax Relief for Parents State Senator Kristen McDonald Rivett is set to propose a new piece of legislation aimed at widening the Earned Income Tax Credit (EITC) for parents. During a primary election night gathering on August 6, 2024, in Saginaw, Michigan, she emphasized the needs of working families. The proposed […]