Tag #Tax Cuts

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IMF Urges US to Curb Deficit Amid Trump's Tax Cut Bill

The IMF warned the US to curb its growing fiscal deficit, as President Trump's proposed $3 trillion tax cut bill, projected to increase US debt to 125% of GDP within a decade, faces potential passage despite Moody's credit rating downgrade and rising recession probabilities.

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abcnews.go.com
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House Republicans Push for Vote on Multi-Trillion Dollar Tax Cut Package

House Republicans are aiming for a Wednesday vote on a tax cut package that includes trillions of dollars in tax breaks, offset by cuts to social programs and increased defense spending, projected to increase the federal deficit by $3.8 trillion.

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npr.org
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Trump Rallies Republicans Behind Sweeping Bill Amidst Internal Divisions

President Trump visited the Capitol today to rally House Republicans behind a sweeping bill including tax cuts, spending cuts, deregulation and immigration changes, facing significant internal opposition and tight deadlines before a potential House vote by Thursday.

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theglobeandmail.com
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House Republicans Push for Multi-Trillion Dollar Tax Cut Package

House Republicans are pushing for a vote on a tax cut package estimated to increase the federal deficit by $3.8 trillion over a decade, with offsetting spending cuts to programs like Medicaid and SNAP, impacting various income groups differently.

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foxnews.com
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Trump Tax Plan Projected to Boost Wages and Family Income

The Council of Economic Advisers projects President Trump's tax plan will boost family take-home pay by $7,800-$13,300 and wages by $6,100-$11,600, increase investment from 4.9% to 7.5%, and create/save 4.2 million jobs, while a failure to extend the 2017 Tax Cuts and Jobs Act could lead to a 22% ta...

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abcnews.go.com
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Trump-Backed $5 Trillion Tax Cut Bill Advances in Congress

President Trump's "One Big Beautiful Bill Act" proposes $5 trillion in tax cuts, partially offset by spending cuts to programs like food assistance and environmental protection, and includes provisions such as ending taxes on overtime and tips and a new $10,000 tax break on American-made car loans.

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theguardian.com
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Moody's Downgrades US Credit Rating Amid Rising Debt and Tax Cut Concerns

Moody's downgraded the US credit rating on Friday, citing rising debt and the potential impact of new Republican tax cuts, increasing borrowing costs and potentially harming lower-income Americans through cuts to social programs.

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theglobeandmail.com
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Trump Urges House Republicans to Pass Multitrillion-Dollar Tax Cut Bill Amidst Internal Divisions

President Trump urged House Republicans to pass his "One Big Beautiful Bill Act," a multitrillion-dollar tax cut package facing opposition due to proposed cuts to Medicaid and disagreements over state and local tax deductions, potentially adding $3.3 trillion to the national debt.

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cnn.com
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US Wealth Inequality Widens as Top 10 Gain $365 Billion Amidst Proposed Republican Tax Cuts

A new Oxfam analysis reveals that the richest 10 Americans gained $365 billion in the past year, while the median American worker earned just over $50,000, highlighting extreme wealth inequality exacerbated by a proposed Republican tax bill that would deepen this gap and add trillions to the nationa...

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aljazeera.com
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US National Debt Reaches \$36.2 Trillion, Raising Fiscal Stability Concerns

The US national debt stands at \$36.2 trillion (122 percent of GDP), fueled by persistent government deficits and growing by \$1 trillion every three months, raising concerns about long-term fiscal stability.

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bbc.com
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Trump Budget Bill Fails in Congress Amidst Republican Divisions

President Trump's "big, beautiful bill" faced a setback on Friday when five Republicans joined Democrats to oppose it in Congress, demanding deeper budget cuts and raising concerns about the bill's $3.72 trillion cost over ten years.

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bbc.com
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Republican Tax Bill Fails Amidst Internal Divisions

The House Republicans failed to pass Donald Trump's "One Big Beautiful Bill Act," a $4.9 trillion tax cut package, due to internal disagreements over budget cuts, Medicaid cuts, the SALT deduction cap, and food assistance program reforms. Four Republicans voted against it, highlighting deep division...

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Showing 37 to 48 of 165 results