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The Latest Breaking News from Tax Cuts

Speaker tries to wrangle his Republican ‘free-range chickens’ in effort to land tax cuts for Trump 2.0 budget

ANALYSIS: Mike Johnson insists his budget plans are on schedule but he still faces a political pressure test, writes John Bowden

The Independent UK

Texas Senate unanimously approves tax cuts for homeowners

The marquee proposal would increase the amount of a home’s value exemption from school taxes to $140,000 from $100,000. The legislation must win approval from the House next.

The Texas Tribune

House Republicans Work On Finalizing Tax And Spending Cut Package

House Republicans finalize a tax and spending cut package with over House Republicans Work On Finalizing Tax And Spending Cut Package trillion in cuts, aiming to make Trump's tax cuts permanent and prevent tip taxation.

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Washington's Debt Delusion: Economic Growth Cannot Fix the Deficit

Republicans are betting trillions on the hope that the economy will grow fast enough to cover their deficit spree.

Reason

This Trump Appointee Could Bring Fiscal Sanity to the White House

"Personnel is policy" has shaped past administrations. Kevin Hassett, who has been tapped to lead the National Economic Council, will have a hand in tax reform, debt reduction, and more.

Reason

Key Family Tax Breaks Are on the GOP Chopping Block This Year

Several tax breaks, including the Child Tax Credit, could face stricter eligibility limits as lawmakers seek revenue for Trump’s tax plans.

Kiplinger

Texas Republicans want more property tax cuts. Here’s how they may do it.

Gov. Greg Abbott said cutting taxes is a top priority, however, state lawmakers don’t have as much money to plug into tax cuts as they did two years ago.

The Texas Tribune

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GOP floats tax on worker benefits

Republicans are trying to find ways to pay for Trump's trillions of dollars in tax cuts

Salon

Modi government slashes income tax for middle classes in India budget

Narendra Modi’s government has presented an annual budget that focuses on wooing the salaried middle class with tax cuts and spurring economic growth by boosting agriculture and manufacturing

The Independent UK

Why Trump tariffs will be ‘very bad for America and for the world’

If enacted tariffs will increase inflation, slow economic growth, and result in US consumers footing the bill

The Guardian - US

GOP Struggles To Offset Cost Of Trump Tax Cuts

House Republicans are grappling with the cost and division over extending Trump's tax cuts, facing challenges in finding consensus.

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Senate Confirms Scott Bessent As Treasury Secretary

Scott Bessent confirmed as Treasury Secretary, focusing on tax cuts, deficit reduction, and tariffs for economic growth. Historic milestone as first openly...

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President Trump Pushes For Historic Tax Cuts Legislation

President Trump emphasizes collaboration with Congress for extensive tax cuts and reforms, focusing on extending the Tax Cuts and Jobs Act provisions.

Top News

Senate Confirms Billionaire Scott Bessent As Treasury Secretary

Wall Street veteran Scott Bessent has defended the Republican president's tax cuts and tariff proposals.

International Business Times

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Senate To Vote On Treasury Secretary Confirmation

Senate prepares to confirm Scott Bessent for Treasury Department, focusing on extending tax cuts and the impact of the 2017 Tax Cuts and Jobs Act on the ec...

The Guardian - US

Charles Koch’s network launches $20m campaign backing Trump tax breaks

Revealed: fossil fuel billionaire’s Americans for Prosperity vows ‘herculean undertaking’ to renew and deepen tax cuts

The Independent UK

Trump repeats desire for Canada to become 51st state: ‘the people would love it’

Donald Trump reiterated his desire for Canada to become the ‘51st state’ in a press conference on Friday (24 January), touting tax cuts and a higher standard of healthcare for its citizens.

Kiplinger

Six Hurdles for Trump's Tax Bill

While the odds for a new tax bill in 2025 are quite good, there are some sticking points that President Trump and Congress will have to work through.

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Reason

Congress Should Extend the Trump Tax Cuts. The Path Won't Be Easy.

Not doing so could be harmful for just about everyone.

The Guardian - US

Republicans reportedly ready to cut Medicaid funding to pay for Trump plans

House and Senate Republicans float ideas to pay for Trump’s immigration crackdown and to fund tax cuts

AAP

Tax cuts not enough to sway voter economic worries

The treasurer has brushed off polling showing voters are pessimistic about their finances despite cost-of-living relief measures.

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Trump Meets Endangered House Republicans To Discuss Legislative Agenda

President Trump meets with vulnerable House Republicans to discuss tax cuts and legislative priorities amidst strategic and substantive divisions.

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Kansas Republicans Push To Ban Gender-Affirming Care For Youth

Kansas politics reflect a divide on economy and transgender rights, with Republicans prioritizing tax cuts and opposing gender-affirming care for youth, wh...

The Walrus

The Politics of “Common Sense” Is Making Us Meaner

Cutting services is treated like conventional wisdom. But it has led to a world that fails many of us

International Business Times UK

Kevin O'Leary Says A 'Uni-Passport' Under Trump Could Make It Easier For Americans And Canadians To Work And Study In Each Other's Countries

Kevin O'Leary has detailed the priorities of US President Donald Trump, which include tax cuts, deregulation, tariffs, and achieving energy independence.

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