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The Latest Breaking News from Tax Cuts

Farage to row back from tax cuts as he pledges ‘most pro-business’ government

Reform UK leader Nigel Farage is expected to use a speech in London to promise sweeping deregulation.

Evening Standard

Nigel Farage to promise business deregulation in economic policy speech

Reform UK leader to set out ‘pro-entrepreneurship’ agenda while rowing back on tax cuts pledge

The Guardian - UK

America's $30 Trillion Publicly Held Debt Is 42 Times Larger Than It Was in 1980

Democrats defend every entitlement and dream up new benefits. Republicans demand more defense spending and still more tax cuts.

Reason

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read the most diverse news in one place.

US debt set to soar above Italy and Greece after Trump’s ‘big, beautiful bill’

While the European countries have brought their spending under control, the US president’s tax cuts and defence spending will lead to increased borrowing

The Guardian - UK

Trump Tax Bill 2025: What Changed and How It Affects Your Taxes

From standard deduction amounts to tax brackets and Medicaid cuts, here’s what individual filers need to know about tax changes in Trump's "big beautiful bill."

Kiplinger

Ley reveals tax cuts, backflips on unpopular policies

The coalition has outlined priorities it will take to the next election, with leader Sussan Ley attempting to win back voters after a stinging defeat.

AAP

Sussan Ley commits to offering income tax cuts at the election

Opposition leader Sussan Ley will commit the opposition to taking a plan to cut personal income tax to the election – despite being unable to foresee what the budgetary and economic circumstances will be by then.

The Conversation

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Rome clears EU-bound budget draft with healthcare trims

With the EU’s filing deadline looming, Rome approved its draft budget plan on Tuesday and will reconvene this Friday to lock in the tax cuts and funding. That's before sending the full budget bill to parliament by 20 October.

Euronews

Reform UK abandoning manifesto pledge of £90bn in tax cuts, deputy leader admits

Richard Tice says party will concentrate on cutting civil service and scrapping net zero once in government

The Guardian - UK

Farage to give up Reform’s manifesto pledge for £90bn in tax cuts

Reform UK leader Nigel Farage will promise not to reduce taxes before cutting spending and making savings in the civil service at a major speech next month

The Independent UK

Tory party conference 2025: Mel Stride pledges £5,000 national insurance rebate for young homebuyers

Shadow chancellor will use his Tory conference speech to set plans to cut welfare spending, foreign aid and the Civil Service if his party wins the next election

Evening Standard

Florida Residents Could Soon Get Property Tax Relief

The push for a solution to end high property taxes could lead to significant tax cuts in the Sunshine State next year.

Kiplinger

Trump wants to rebrand his ‘big, beautiful bill’ as the ‘Working Families Tax Cut’. Don’t be fooled

The budget measure will hurt poor people and boost rich people. It should really be called the Billionaires’ Tax Cut Act

The Guardian - US

What to know about 17 statewide propositions on Texans’ ballots Tuesday

A majority of the proposed constitutional amendments address tax cuts for homeowners and businesses.

The Texas Tribune

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Kiplinger

Is the One Big Beautiful Bill Really All That Great for Your Retirement?

While tax cuts sound attractive, it's still wise to plan ahead for retirement by considering strategies like Roth conversions to offset potential tax increases in the future and stealth taxes that could surprise you.

Euronews

Public services vs. tax cuts: What are Europeans willing to sacrifice?

Four in ten EU citizens believe taxes are too high and support tax cuts, even if this leads to fewer or lower-quality public services. Still, about a quarter favour paying higher taxes in return for better and expanded services.

The Conversation

NZ First wants a compulsory KiwiSaver. Boosting the Super Fund is a better bet

An ageing population not saving fast enough for its retirement has been called a “timebomb” and a looming crisis, with many New Zealanders facing the prospect of hard times when they stop earning.

The Independent UK

Greek prime minister unveils broad tax-cuts package in keynote policy speech

Greek Prime Minister Kyriakos Mitsotakis has unveiled a 1.6 billion-euro ($1.87 billion) tax cuts package in a keynote speech at the Thessaloniki International Fair

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GOBankingRates

Trump’s Big Beautiful Bill Reduces Federal Taxes in Every State: Here’s How Much of a Cut You Could See

Most taxpayers just dodged a major tax hike. See how much you could save under Trump’s extended tax cuts and which states benefit the most -- and least.

International Business Times

Why Old Cars Are More than Just Machines: From Tax Benefits to Living Time Capsules of Human Ingenuity

Under Section 179 of the 2017 Tax Cuts and Jobs Act, business owners who utilize a qualifying asset for more than 50% of business purposes may deduct its cost in the first year.

GOBankingRates

I Asked ChatGPT To Debunk One Common Myth About Trump’s Economy: Here’s What It Said

ChatGPT elaborates on the Trump tax cut myth, revealing they don’t pay for themselves and could add $2.8T to the deficit, per multiple data sources.

Top News

Trump Shifts Messaging On Domestic Policy Law

President Trump changes messaging strategy to highlight tax cuts for middle-class Americans in domestic policy law.

The Guardian - UK

One in four UK late-night venues have closed since 2020, figures show

Industry body calls for urgent tax cuts to save ‘cornerstones of community life’ and halt rise of ‘night-time deserts’

Fortune

Trump’s tariffs are becoming such an important revenue source that they’re now propping up America’s debt rating

“At this time, it appears that meaningful tariff revenue has the potential to offset the deficit-raising aspects of the recent budget legislation.”

Al Jazeera

Is Trump’s ‘Big Beautiful’ spending law the biggest tax cut in US history?

Trump’s 2025 law ranks third among tax cuts since 1980 and mainly extends old cuts, making its impact modest for most.

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People

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