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The Latest Breaking News from Tax Cuts

Rishi Sunak says people ‘not idiots’ and know why he cannot cut taxes

PM suggests public understands what is affordable, but his stance could trigger fresh backlash from Tory MPs

The Guardian - UK

Ministers hope Chancellor Jeremy Hunt will unveil tax cuts in the autumn before 2024 election

Ministers hope Chancellor Jeremy Hunt can announce tax cuts in the autumn ahead of a General Election a year later.

Evening Standard

Jeremy Hunt preparing ‘slim Budget without tax cuts’

Chancellor wants to balance the books, as Liz Truss supporters launch tax-cutting growth group

The Independent UK

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Jeremy Hunt ‘planning a slimmed-down spring budget with no tax cuts’

Exclusive: Treasury sources say chancellor is resisting pressure from MPs who want taxes to start falling well before next election

The Guardian - UK

Columnist exposes House GOP tax scam

Washington Post's Catherine Rampell exposes a provision tucked into Republicans' House Rules package

Salon

Rich getting richer amid inflation crisis

Despite the inflation crisis, the wealthiest Australians continue to get richer and experts are now calling on the government to scrap planned tax cuts.

AAP

Key Israel business group seeks steep cut in food tax

Israel's Manufacturers' Association on Sunday proposed tax cuts on food along with a host of other measures aimed at strengthening Israeli economic competitiveness and dealing with the country's high cost of living.

Reuters

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Jackie Calmes: Republicans being the party of fiscal conservatism? Don't believe it for a minute

With a Democrat inhabiting the White House, perhaps the most predictable thing about House Republicans' return to power is this: They've rediscovered their faux fiscal conservatism.

Los Angeles Times

A new ‘build your own budget’ tool reveals just how bad the stage-three tax cuts are

Parliamentary Budget Office tool shows how government could deliver tax cuts and also help those in much more need than people earning over $200,000

The Guardian - AU

Commentary: House Republicans’ first order of business? Balloon the $31 trillion national debt

Republicans have long claimed they are dedicated deficit hawks, blaming Democrats for growing deficits and debt. But two votes they cast after electing Kevin McCarthy as House speaker prove that Republicans are charlatans when it comes to deficit reduction.

Los Angeles Times

Clash over tax cuts coming in Kansas; abortion foes unsure

Kansas’ recently reelected Democratic governor and Republican lawmakers are headed for a clash over how their financially flush state should cut taxes as the Legislature prepares to open its annual session

The Independent UK

Labor under renewed pressure to axe stage-three tax cuts as Australia’s budget woes mount

The party voted in support of tax cuts while in opposition and went to the election promising no changes to the policy

The Guardian - AU

The Albanese government has had a solid start. Now comes the hard part

Labor has grown in popularity since its election in May, and ticked off a number of campaign promises. But harder decisions await in 2023

The Guardian - AU

The strikes are a baleful legacy of a 12-year obsession with tax cuts and a small state

David Cameron first took aim at public sector workers in 2010. Continued Conservative policies have brought them to their knees

The Guardian - UK

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The Guardian - AU

Broken promises can be toxic for governments, so axing the stage-three tax cuts could be right but risky

It’s going to be a tough call – one of many that await the Labor government in 2023

The Guardian - AU

The pandemic showed us that poverty is a policy choice – we must do better

The poorest 20% of households are aided significantly by services like education and health. But the stage-three tax cuts threatens their funding

AAP

Experts want stage three tax cuts revised

More than 100 economists and tax experts have signed an open letter urging Prime Minister Anthony Albanese to reconsider the stage three tax cuts.

The New Daily

Only one way to go on stage three tax cuts: Two wise men to PM

'Strikingly inappropriate: One hundred economists are calling on the federal government for its stage three tax cuts to be dumped.

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St. Louis Post-Dispatch

Editorial: GOP economics still reveres the disproven 'Laffer curve.' Why can't they learn?

Arthur Laffer, the Reagan-era guru of trickle-down economics, was unchastened by the deficit explosion back then, which effectively disproved his theory that cutting taxes on the rich would increase government tax revenue. According to a recent Washington Post writeup, Laffer continues to be unchastened now, even as Britain reels from…

Reason

Sixth Circuit Concludes ARPA Condition on COVID Relief Violates Spending Clause

The U.S. Court of Appeals for the Sixth Circuit concluded some state challenges to the COVID relief bill were not justiciable, but reaches the merits in one case and finds the law lacking.

Daily Record

We will pay the price of Tory party mess as Jeremy Hunt issues dire warning

The situation is dire but it wouldn’t be so bleak if it wasn’t for Liz Truss and Kwasi Kwarteng’s mini-budget that took the country to the edge due to its unfunded tax cuts for the richest in society.

The Independent UK

Iowa Republican Gov. Reynolds reelected over Democrat DeJear

Republican Iowa Gov. Kim Reynolds won a second full term after campaigning on a record of tax cuts and conservative handling of the state’s economy

Tribune News Service

Allison Schrager: Republicans’ plan to fix the economy is … we’re still waiting

It's easy to criticize the Democrats’ economic policies now that they have had a few years in power and passed several big bills, but also because they've articulated a clear economic vision for the country: expanding the government’s role in the economy with more generous social programs, higher taxes for…

The Guardian - AU

Angus Taylor says government axing stage-three tax cuts ‘would be a broken promise of incredible magnitude’

Shadow treasurer describes the policy as the greatest ‘marker of values in this term of parliament’

The Guardian - AU

Morning Mail: voters want power bill help, Kohli in hotel security breach, a taxing question for Plibersek

In today’s newsletter: a survey finds more than two-thirds of respondents want the government to intervene in energy market; Tanya Plibersek says she’d ditch tax cuts; and a flood rescue support package will be announced

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Luiz Inácio Lula da Silva

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