US Politics in Trump era Public date: 02.10.2020 20:59:01

Publisher: NYTimes

Author:

13 Nov 2018

Trump’s Tax Cut Was Supposed to Change Corporate Behavior. Here’s What Happened.

The $1.5 trillion tax overhaul that President Trump signed into law late last year has already given the American economy a jolt, at least temporarily. It has fattened the paychecks of most American workers, padded the profits of large corporations and sped economic growth.
The $1.5 trillion tax overhaul that President Trump signed into law late last year has already given the American...

Publisher: NYTimes

Author:

17 Oct 2018

No, Trump’s Tax Cut Isn’t Paying for Itself (at Least Not Yet)

The Treasury Department released figures on Monday showing the federal budget deficit widened by 17 percent in the 2018 fiscal year, to $779 billion. That’s an unusual jump for a year in which unemployment hit a five-decade low and the economy experienced a significant economic expansion. But the increase demonstrates that the tax cuts President Trump signed into law late last year have reduced federal revenues considerably, even against the backdrop of a booming economy.
The Treasury Department released figures on Monday showing the federal budget deficit widened by 17 percent in the 2018...

Publisher: NYTimes

Author:

25 Jul 2018

How the Trump Tax Cut Is Helping to Push the Federal Deficit to $1 Trillion

The amount of corporate taxes collected by the federal government has plunged to historically low levels in the  first six months of the year, pushing up the federal budget deficit much faster than economists had predicted. The reason is President Trump’s tax cuts. The law introduced a standard corporate rate of 21 percent, down from a high of 35 percent, and  allowed companies to immediately deduct many new investments.
The amount of corporate taxes collected by the federal government has plunged to historically low levels...

Publisher: NYmag

Author:

11 Mar 2018

G.O.P. Rushed to Pass Tax Overhaul. Now It May Need to Be Altered.

The legislative blitz that rocketed the $1.5 trillion tax cut through Congress in less than two months created a host of errors and ambiguities in the  law that businesses big and small are just now discovering and  scrambling to address. Companies and trade groups are pushing the Treasury Department and Congress to fix the law’s consequences, some intended and some not, including provisions that disadvantage certain farmers, hurt restaurateurs and retailers and could balloon the tax bills of large multinational corporations.
The legislative blitz that rocketed the $1.5 trillion tax cut through Congress in less than two months created a host of...

Publisher: NYTimes

Author:

5 Dec 2017

Republicans Sought to Undercut an Unfavorable Analysis of the Tax Plan

In 2015, Republicans changed the budget rules in Congress so that official scorekeepers would be required to analyze the potential economic impact of major legislation when determining how it would affect federal revenues. But on Thursday, hours before they were set to vote on the largest tax cut Congress has considered in years, Senate Republicans opened an assault on that scorekeeper, the Joint Committee on Taxation, and its analysis, which showed the Senate plan would not, as lawmakers contended, pay for itself but would add $1 trillion to the federal budget deficit.
In 2015, Republicans changed the budget rules in Congress so that official scorekeepers would be required to...

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