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The Latest Breaking News from Tax Cuts

Senate GOP's Budget Plan: $1.5T In Tax Cuts, $5T Debt Limit Hike—What You Need To Know

Republicans are using the accounting method called the "current policy baseline" to show that extending Trump's tax cuts would cost nothing. Democrats strongly oppose this, calling it "magic math" because it hides the true cost, which could be in the trillions.

International Business Times

Senate Republicans get ready to roll on revised budget - Roll Call

The compromise budget blueprint is designed to pave the way for a major package of tax cuts, border security and defense funding and more.

Roll Call

White House officials are considering a higher tax rate for the wealthiest Americans to help pay for cutting taxes on tips, report says

Ending taxes on tips was one of President Donald Trump's top campaign pledges, and he has reaffirmed it since returning to the White House.

Fortune

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Stocks post worst quarter since 2022 ahead of ‘Liberation Day’

Trump wants tariffs to pay for tax cuts, but investors have received few updates on the latter.

Fortune

Peter Navarro faces bipartisan wrath over ‘exceptionally stupid’ claim that ‘tariffs are tax cuts’

‘They think you are stupid,’ Pradeep J. Shanker, a contributor for the conservative National Review magazine, said about Navarro’s claim

The Independent UK

Coalition energises race for votes with gas and petrol

The coalition have pledged gas investment to bring down power prices as they position themselves as stronger leaders for the nation ahead of the election.

AAP

We calculated how much Dutton’s excise cut would save you on fuel – and few will save as much as promised

The opposition has unveiled its response to Labor’s A$17 billion “top-up” tax cuts outlined in Tuesday night’s federal budget: cheaper fuel for Australians.

The Conversation

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Australia’s PM Anthony Albanese set to call election ‘imminently’

Prime Minister Albanese’s Labor Party has introduced new tax cuts in advance of general election due before May 17.

Al Jazeera

Labor gets tick on tax cut, Liberal fuel plan sputters

Labor's election tax cuts will provide a "meaningful" boost to the economy, while the coalition's fuel excise cuts have been labelled economically "silly".

AAP

300 of America’s wealthiest citizens ask Congress not to carry out tax breaks for them. Here’s why

Group of wealthy Americans includes member of the Disney family, founder of Seventh Generation, heir to the Rockefeller family and more

The Independent UK

Cheaper power bills pledge as Dutton spurs gas supply

Opposition Leader Peter Dutton's budget reply has outlined an alternative vision to drive down energy costs and ease pressure on household budgets.

AAP

Labor’s budget tax cuts make good economic sense – and have backed Dutton and Taylor into a political corner

The tax cuts announced in Jim Chalmers’ fourth budget have left the opposition leader and shadow treasurer with limited options

The Guardian - AU

Politics with Michelle Grattan: Jim Chalmers and Angus Taylor on tax top-ups and budget bottom lines

As the election starter’s gun is about to be fired, Tuesday’s budget announced modest income tax cuts as the government’s latest cost-of-living measure. The Coalition has opposed the tax relief, with Peter Dutton’s Thursday budget reply to put forward his policy counters on the cost of living.

The Conversation

Afternoon Update: budget tax cuts pass lower house; easing inflation boosts rate cut hopes; and a dachshund on the run

Labor’s legislation passes the lower house without Coalition support

The Guardian - AU

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The Conversation

Is this the right budget for these economic times? We asked 5 experts

Treasurer Jim Chalmers has described the income tax cuts in this week’s federal budget as a “top-up”. They will amount to roughly one cup of coffee a week for every taxpayer in the first year.

The Guardian - AU

Morning Mail: Coalition won’t back tax cuts, Black Sea truce agreed, a Perth power play

Treasurer springs surprise with tax cuts and puts opposition on the defensive; Russia and Ukraine will ‘eliminate the use of force’ in area

AAP

Battle lines drawn over tax cuts as election looms

Universal $5 a week tax cuts are being raced through parliament as debate around cost of living intensifies ahead of the federal election.

The Guardian - AU

Jim Chalmers’ 2025 budget speech abridged and annotated – the economy is OK and we’re heading into an election

What the treasurer said – and what we can read between the lines of the budget night speech

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Pedestrian.tv

How Will The 2025 Budget Affect Young Aussie Women?

New tax cuts, cheaper contraceptives and more — here’s everything you need to know.

The Guardian - AU

Australia budget 2025: the seven graphs you need to see

These are pure Labor tax cuts – just what the ALP should be all about – but why are we still letting gas companies get off scot-free?

The Guardian - AU

Australian federal budget tax cuts: how much will your household receive?

Tax cuts are the major highlight of what Labor’s 2025 budget is doing for households

The Guardian - AU

What the federal budget means for your generation – gen Z, millennial, gen X or boomer

Tax cuts, more funding for Medicare bulk billing, the PBS and education are all welcome – but a lack of ambition on housing is a sore point

The Guardian - AU

Australia’s tax take is higher – but so are debt and deficit in this year’s budget

Higher-than-expected revenue has put the economy in a stronger position than last year and is helping fund pre-election policies including tax cuts

Pedestrian.tv

Tax Cuts & Cheaper Healthcare: 9 Major Takeaways From The 2025 Federal Budget

If you're looking for a handy guide about the 2025 Federal Budget and how it affects young Aussies, we've got you covered.

The Conversation

Albanese government bids for votes with ‘top-up’ tax cuts for all

Tax cuts are the centrepiece of the Albanese government’s cost-of-living budget bid for re-election in May. The surprise tax measures mean taxpayers will receive an extra tax cut of up to A$268 from July 1 next year and up to $536 every year from July 1 2027.

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