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The Latest Breaking News from Tax Cuts

Stage 3 tax cuts to benefit rural Australia the least, analysis shows

Country Australians will benefit the least from the stage 3 tax cuts, a new analysis based on tax data shows.

ABC News

Rural Australia and Tasmania to receive almost no benefit from stage-three tax cuts, analysis finds

‘It’s arse about face … giving nothing to the people who are screaming for assistance,’ Tasmanian senator Jacqui Lambie says

The Guardian - AU

Redesigned stage-three tax cuts among options that could halve $50bn budget deficit, report says

More changes to super tax breaks and a royalty on offshore gas suggested as Grattan Institute warns deficit must shrink to avoid rising debt interest bill

The Guardian - AU

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Texas House approves $302.6 billion state budget with tax cuts and teacher and state employee raises

After a marathon debate, the bill will head to the Senate, where lawmakers have been crafting their own version of the spending plan.

The Texas Tribune

‘We Are in a Crisis’: Texas Public Schools on the Edge

Vouchers and property tax cuts strike at a public school system already hemorrhaging hard-working employees.

Texas Observer

Free public transport trial across Australia for 12 months would cost $2.2bn, Greens say

Parliamentary Budget Office has costed Greens’ proposal and MP says it is one-seventh the projected $17.1bn cost of stage-three tax cuts

The Guardian - AU

Trump, Bush tax cuts drive national debt

“The United States does not have a high-spending problem; it has a low-tax problem,” the report concludes

Salon

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House panel advances new Texas budget with property tax cuts, teacher pay raises

The proposal recommends spending billions on programs including property tax cuts, teacher pay raises, mental health services and border security. It leaves out requests for pay raises for retired state employees and funding for rent relief and childcare programs.

The Texas Tribune

States cranking out even more tax cuts amid cash surpluses

The tax-cutting trend is going full force in states even as some are raising concerns about a slowing economy

The Independent UK

Rural residents to benefit least from planned tax cuts

A new report on the federal government's stage three income tax cuts have shown those in regional areas would benefit the least from the changes.

AAP

Hunt running a ‘high-tax, high-spend, low-growth, quasi-socialist economy’ – MP

Philip Davies, MP for Shipley, urged Jeremy Hunt to lower the ‘burden of taxation’ and introduce ‘some tax cuts’ days after the Chancellor’s Budget.

The Independent UK

Revealed: Where the winners and losers under the Stage 3 tax cuts live

A $254 billion Stage 3 tax plan for wealthy Australians will enrich inner cities at the expense of poorer regional and rural communities.

The New Daily

Lib Dems call on Hunt to scrap tax cuts for banks to give carers a rise

Treasury spokeswoman Sarah Olney will say ministers can cover the costs of recruiting 150,000 carers if they reverse giveaways for banks.

The Independent UK

Jeremy Hunt refuses to commit to tax cuts before 2024 election

Jacob Rees-Mogg, Priti Patel and others on low-tax right speak out against Budget moves

The Independent UK

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The Texas Tribune

The Texas House and Senate differ on how to cut property taxes. Here’s what their proposals say.

Cuts to school property tax bills. Bigger tax benefits for homeowners. A controversial idea to limit property tax growth. Here’s what you need to know about the brewing property tax debate at the Texas Legislature.

The Independent UK

Jeremy Hunt vows to fill 1m vacancies but refuses to commit to tax cuts ahead of general election

Chancellor defends ‘back to work’ budget in round of TV interviews

The Guardian - AU

Nuclear subs, tax cuts, or money to raise the jobseeker rate – how would you spend Australian tax dollars?

Australia has unveiled a plan to acquire a fleet of up to eight nuclear-powered submarines, forecast to cost up to $368bn between now and the mid-2050s, and up to $58bn over the next 10 years. But what else could the money be spent on?

The New Daily

Paul Bongiorno: AUKUS submarine project should torpedo Stage 3 tax cuts and other myths

Projected to cost $240 billion over 10 years, the Stage 3 tax cuts would go a long way to help pay for the submarine project.

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The Conversation

Budget 2023: government needs to show it can jack up growth to regain economic credibility

UK chancellor Jeremy Hunt’s spring budget is a tricky one in terms of timing. Having announced a set of steadying measures in the autumn statement after the Truss/Kwarteng debacle, this budget is likely to be the last but one before a 2024 general election. This makes it a little early…

Daily Mirror

Families on Universal Credit to get childcare costs paid upfront in major help for parents

The Chancellor has pre-announced a series of key measures which aim to boost the UK workforce, which he argues will encourage growth that could allow for tax cuts later on

The Independent UK

Hunt vows to be responsible with UK finances ahead of Budget

The Chancellor played down the prospect of major tax cuts despite pressure from Tory MPs.

The Independent UK

Biden to propose tax hike on billionaires’ investment income in 2024 budget

Mr Biden’s budget proposal will reportedly cut $3 trillion from the US budget deficit

The Independent UK

Biden budget seeks big deficit cuts in challenge to GOP

President Joe Biden is ready to unveil his proposed federal budget, his opening offer in a high-stakes debate about federal finances

The New Daily

No time for ‘freebies’: Calls for another tax break to be axed

Income tax cuts are back at the centre of debate as key independents say the public won’t tolerate another tax break for the very wealthy.

The New Daily

Pressure on Labor over tax cuts, amid broad support for super hikes

Pressure is mounting on the federal government over tax cuts, amid support for super changes and ahead of another interest rate rise.

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