Taxes
  • Trump Economists Say GDP Growth Will Fall Short of 3%

    By Michael Rainey

    President Trump and Republican lawmakers promised an economic boom in the wake of their tax cut package in 2017, but growth rates have remained below 3% annually – well below the 5% touted by the...

  • President Donald Trump and House Ways and Means Committee Chairman Kevin Brady smile at each other after the U.S. Congress passed sweeping tax overhaul legislation, on the South Lawn of the White House in Washington

    In Search of the ‘Disappearing Corporate Income Tax’

    By Michael Rainey

    Lawmakers clashed on Tuesday over the performance of the 2017 Tax Cuts and Jobs Act in a House Ways and Means Committee hearing titled “The Disappearing Corporate Income Tax,” with Democrats arguing...

  • Copies of U.S. President Donald Trump's FY2021 budget proposal on display in Capitol Hill in Washington, U.S.

    Trump’s $4.8 Trillion Fiscal Fantasy

    By Yuval Rosenberg and Michael Rainey

    The Trump White House on Monday released a $4.8 trillion budget for 2021 that calls for steep reductions in spending on safety net programs including Medicaid while proposing greater outlays for the...

  • What to Look For in Trump’s 2021 Budget: CBPP

    By Michael Rainey

    President Trump’s agenda for a possible second term is still on the drawing board, according to The Wall Street Journal’s Andrew Restucci, and aides are reportedly in the early stages of drafting...

  • U.S. President Trump delivers State of the Union address at the U.S. Capitol in Washington

    5 Whoppers From Trump’s State of the Union Address

    By Michael Rainey

    President Trump delivered a polarizing, reality-show tinged State of the Union address Tuesday in which he claimed credit for three years of solid economic growth while making more than 30 “dubious...

  • Deficit Rising, but Won’t Hit $1 Trillion Until 2022, CBO Projects

    By Michael Rainey

    In new budget and economic projections released Monday , the Congressional Budget Office said annual deficits are expected to rise above $1 trillion in 2022, two years later than previous estimates,...

  • A security camera hangs near a corner of the Internal Revenue Service (IRS) building in Washington

    Thousands of Unpaid IRS Employees Did Not Return to Work Early This Week

    By The Fiscal Times Staff

    More than half of the furloughed IRS employees who had been called back to work during the government shutdown to handle tax returns and taxpayer questions did not return as of Tuesday, according to...

  • U.S. Senator Elizabeth Warren (D-MA) delivers remarks at the Center for American Progress in Washington U.S. July 13, 2016.  REUTERS/Gary Cameron

    The Left's Next Weapon to Fight Inequality: A Wealth Tax

    By Michael Rainey

    Democratic presidential hopeful Sen. Elizabeth Warren (MA) plans to propose a new wealth tax on the very rich, The Washington Post reported Thursday. The Post’s Jeff Stein and Christopher Ingraham...

  • Is the Tax Cut Investment Boom Already Over?

    By Michael Rainey

    Kevin Hassett, chair of President's Trump's Council of Economic Advisers, defended the Republican tax bill in an interview with CNN's Poppy Harlow Wednesday, saying that the promised wave of...

  • State Tax Revenues Jump Higher

    By The Fiscal Times Staff

    Solid economic growth and a rising stock market drove state tax revenues higher in 2018, with 36 states collecting more taxes than they did before the Great Recession, according to an analysis...