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The Latest Breaking News from Tax Cuts

A ‘modest’ tax bribe, delivered against dark clouds of Trump-induced uncertainty

The Albanese government’s fourth budget is a pitch for the votes of a sour and alienated electorate, framed against a background of extraordinary international uncertainty.

The Conversation

Tax cuts are coming, but not soon, in a cautious budget

Today’s budget is a cautious and responsible response to the cost-of-living pressures facing voters.

The Conversation

Taxpayers to get $10 a week cut in pre-election budget

All taxpayers will get two rounds of cuts but only starting from July 2026, as Treasurer Jim Chalmers makes the case for a second Labor term.

AAP

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Congress returns for three-week sprint session - Roll Call

Both the House and Senate come back from recess this week to begin a busy three-week period that’s expected to focus on Republicans’ budget reconciliation agenda, including extending and expanding tax cuts and tightening immigration policy. The top items on the House agenda this week, meanwhile, will include more measures…

Roll Call

Income tax cuts and jobs at risk due to trade war, Donohoe says

Government plans for tax cuts may have to be postponed due to the threat of a global trade war, the finance minister has said.

The Independent UK

US debt could explode above 200% of GDP in two decades if Trump's tax cuts become permanent, CBO says — putting it at unsustainable levels

"Macroeconomic feedback effects would further increase interest rates and, therefore, lead to even worse fiscal outcomes," the Peter G. Peterson Foundation warned.

Fortune

High-net worth families are racing against the clock to shield their wealth before the estate tax increases

"This is the number one issue that’s looming large in peoples’ minds."

Fortune

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New Income Tax Proposal Is Progressive and Unworkable

Commerce Secretary Howard Lutnick says the Trump administration wants to eliminate income taxes for those making $150,000 or less—an unprecedented shift with major consequences.

Reason

Trump’s Latest Pitch: No Taxes If You Earn Less Than $150K?

The Trump administration reportedly wants to eliminate taxes for certain earners.

Kiplinger

Trump’s tariffs will be paid by the poor – while his tax cuts help the rich

The math doesn’t work in the president’s economic promises, which will create a giant upward transfer of wealth

The Guardian - US

It’s ‘Maganomics’: Trump’s brash economic strategy is likely to end in crash or crisis

Large tax cuts for the rich, import tariffs, and the competing interests of Republican nationalists and the techno-right is a dangerous combination, says economist Jonathan Portes

The Guardian - UK

Georgia Tax Refunds Are Coming: What to Expect in 2026

Georgia surplus tax rebates are rolling out in May. Here's the breakdown of who's eligible and the plan to lower your income tax rate to 4.99%.

Kiplinger

Mnuchin: No tax on overtime, Social Security 'very expensive'

The Goldman Sachs alum did not endorse all the new administration’s policies.

Fortune

Conservative Nonprofit Group Airs Ad Supporting Trump's Tax Cut Plan

Conservative nonprofit airs ad supporting Trump's tax cut plan before his address to Congress, emphasizing his commitment to protecting tax cuts.

Top News

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AAP

Calls grow to banish 'anti-democratic' bracket creep

Economists have backed a teal proposal to index income tax thresholds to end bracket creep, which is placing an increased burden on working Australians.

Fortune

How Republicans plan to use 'weird accounting' to pass $5 trillion tax cuts

Not every Republican politician is on board.

The Texas Tribune

Texas House and Senate lawmakers have laid out their property tax cut proposals. How do they compare?

House and Senate lawmakers plan to spend at least $6 billion on property tax cuts, but haven't yet agreed on how much relief should go to homeowners over businesses.

The Independent UK

AOC calls Elon Musk a ‘leech’ on the public as their tit-for-tat feud continues

‘No matter how many billions he gets in tax cuts and government contracts, it will never be enough for him,’ Alexandria Ocasio-Cortez said

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The Guardian - US

Medicaid recipients fear ‘buzzsaw cuts’ for Trump’s agenda: ‘We’re not going to be alive forever’

To pay for $4.5tn in tax cuts and mass deportations, the GOP plans to roll back the federal healthcare insurance program

The Conversation

US inflation has increased since Trump took office – why prices are unlikely to come down soon

The cost of living crisis, which saw inflation in the US peak at a four-decade high of 9.1% in 2022, played a significant role in determining the outcome of last November’s presidential election.

The Independent UK

Trump’s promised laundry list of tax goodies gets a reality check

ANALYSIS: ANALYSIS: Trump promised no taxes on tips, Social Security or overtime. Eric Garcia writes that the math does not add up

Fortune

Why AT&T's CFO is hoping Congress will extend Trump's corporate tax cuts

Good morning. The corporate tax provisions of the Tax Cuts and Jobs Act (TCJA) are set to expire this year. And Pascal Desroches, AT&T’s CFO and senior executive vice president, says that’s a cause for concern. President Trump will need to extend the provisions in of the TCJA, the signature…

Top News

House Republicans Pass Budget Blueprint For Tax Cuts

House Republicans pass budget blueprint for Trump's agenda, focusing on tax cuts and spending reductions. Challenges lie in deciding where to make cuts and...

Roll Call

Medicaid work rules have increased coverage loss, not employment - Roll Call

Work requirements have been part of the discussion as House Republicans scour for ways to pay for President Trump’s $4.5 trillion tax cuts.

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