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The Latest Breaking News from Tax Cuts

From Buying a New Car to Having a Baby: How the OBBBA Affects Everyday Taxpayers

As well as making many tax cuts permanent, the OBBBA introduced a host of thresholds, phaseouts and deductions that affect everyday taxpayers, including these key changes.

Kiplinger

Indian firms don’t want to invest in India

Indian companies are not investing as much as the government expects them to. Despite tax cuts and infrastructure spending, businesses have been hesitant. Officials blame this on a lack of appetite for expansion, but the real reasons possible include high political risk and unpredictable policies.

The Economic Times

View from The Hill: the art of political spin – defending a broken promise as ‘building trust’

In his first term, Anthony Albanese was highly reluctant to break promises. He resisted for a long time recalibrating the Coalition’s tax cuts, because he had undertaken to deliver them intact.

The Conversation

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Tennessee Families Lose Out as 2026 Budget Excludes Grocery Tax Cuts

Paying taxes on basic nutritional necessities places a heavy financial burden on working families struggling with inflation. Many states recently eliminated these specific retail taxes to provide immediate relief for their residents. Residents in the south eagerly awaited legislative action regarding their own state grocery tax this spring. Unfortunately, the…

Grocery Coupon Guide

Scotland’s political parties accused of ‘lack of realism’ over manifesto plans

The Institute for Fiscal Studies said the parties running in the Holyrood election did not appreciate ‘just how tough the fiscal challenges will be’.

Evening Standard

Europe is subsidising its way into a deeper energy crisis

Energy crisis: Governments should replace blanket tax cuts and price caps with direct income transfers for vulnerable households, liquidity support and non-earmarked tax credits for exposed sectors, writes Judith Arnal, State Economist in Spain, in an opinion piece for Euronews.

Euronews

‘Welfare Queens’: Donald Trump just handed America’s billionaires a $1.96 trillion payday

America’s billionaires just got a lot richer, and it’s not because they suddenly invented the next big thing. Since the 2025 Trump-GOP tax cuts kicked in, the collective wealth of the country’s 974 billionaires has ballooned by $1.96 trillion, a 31% jump in just 16 months. That’s the headline according…

The Mary Sue

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New Poll Shows Trump 58 Points Underwater With Independents on Taxes Despite Major Cuts

According to a late March Fox News poll reported on by CNN data analyst Harry Enten, Trump is "58 points underwater" among independents on taxes.

International Business Times

House Democrats file six articles of impeachment against defense secretary Pete Hegseth – as it happened

This live blog is now closed.

The Guardian - US

Anas Sarwar asks voters in Scotland to give Labour five years to ‘fix SNP’s mess’

Scottish Labour leader pledges more homes and tax cuts as party tries to reverse slump in support before May elections

The Guardian - UK

Dems eyeing 2028 want huge tax cuts — but big hikes for the rich

Democrats are still struggling to figure out how to address voters' concerns about inflation.

Axios

Your North Carolina Income Tax Cut Is Coming — But There’s a Catch

North Carolina paychecks might get a boost as personal income tax rates drop toward 2.99%. But a growing debate has lawmakers at a crossroads.

Kiplinger

Reform hits out at IFS analysis of Scottish tax plans

The IFS said the party’s tax plans were ‘not credible’.

Evening Standard

Europe's response to the relentless surge in energy and fuel costs from the war in Iran

Brent crude topped €100 a barrel after the Strait of Hormuz was closed. With no unified EU response from Brussels, capitals are opting for tax cuts, price caps or simply delaying concrete action.

Euronews

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Euronews

Spain unveils €5 billion energy package with tax cuts to offset Iran war costs

The Spanish government has approved a package of 80 measures to tackle rising energy prices and mitigate the broader economic impact of the war in the Middle East.

The Guardian - UK

Nato relocates personnel from Iraq mission to Europe amid conflict in Middle East – as it happened

Announcement follows Poland’s confirmation of troop withdrawal because of ‘worsening security situation’

Fortune

The $38.9 trillion national debt is costing you thousands of extra dollars per year on your mortgage. Here’s how it adds up

“The consistent pattern of deficit spending that has been the norm in the United States for many years has driven up costs for families."

AAP

Tax cut could help more drivers dodge petrol price hike

More Australians could turn to electric vehicles to avoid rising fuel costs if governments keep tax cuts for their purchase and consider new incentives.

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International Business Times

Ted Cruz Urges Scott Bessent to Go Around Congress and Enact $200B Tax Cuts

Republican Sens. Ted Cruz and Tim Scott formally urged Treasury Secretary Scott Bessent to enact roughly $200 billion in tax cuts without the approval of Congress.

GOBankingRates

2 Reasons Middle-Class Tax Refunds Might Feel More Like Stealth Stimulus Checks This Year

Some middle‑class tax refunds may be bigger this year, thanks to tax cuts and inflation adjustments. Here’s why your refund might feel like extra cash.

Fortune

Health care spending is surging just as Trump’s tax cuts cripple its funding

Health spending is eating up a growing share of the government’s shrinking budget.

Euronews

Can IFAD’s “First Mile” revolution secure Africa’s food future?{Business Africa}

We find out how IFAD is transforming farm losses into bankable opportunities for rural youth and local markets and ECOWAS promised cheaper regional flights after aviation tax cuts — but high fares and conflicting national policies are stalling reforms.

The Guardian - AU

Finally fixing capital gains tax is good – but linking it to another tax cut for Australia’s rich is bollocks

Undoing bad policy does not require rewarding those who have benefited from it

GOBankingRates

Trump vs. 5 Presidents Who Raised Taxes the Most and 5 That Lowered Them

Understanding how different administrations shape U.S. tax policy is key to making sense of today's economic unrest. Over the past several decades, presidents from both political parties have...

The Free Financial Advisor

How The SALT Deduction Caps Squeezed Many Middle-Income Taxpayers

A single number — $10,000 — redrew the financial map for millions of households. When Congress passed the Tax Cuts and Jobs Act in late 2017, lawmakers lowered tax rates, nearly doubled the standard deduction, and promised broad relief. Yet one provision quietly shifted the ground under middle-income families in…

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