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

Publisher: NYTimes

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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...
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corporations, economy, governance, one percent, tax policy
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Publisher: NYTimes

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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...
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deficits, governance, tax policy, trump agenda
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Publisher: NYTimes

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26 Sep 2018

As Debt Rises, the Government Will Soon Spend More on Interest Than on the Military

The federal government could soon pay more in interest on its debt than it spends on the military, Medicaid or children’s programs. The run-up in borrowing costs is a one-two punch brought on by the need to finance a fast-growing budget deficit, worsened by tax cuts and steadily rising interest rates that will make the debt more expensive.
The federal government could soon pay more in interest on its debt than it spends on the military, Medicaid or...
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competence, deficits, governance, tax policy
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Publisher: NYTimes

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31 Jul 2018

Trump Administration Mulls a Unilateral Tax Cut for the Rich

The Trump administration is considering bypassing Congress to grant a $100 billion tax cut mainly to the wealthy, a legally tenuous maneuver that would cut capital gains taxation and fulfill a long-held ambition of many investors and conservatives.Steven Mnuchin, the Treasury secretary, said in an interview on the sidelines of the Group of 20 summit meeting in Argentina this month that his department was studying whether it could use its regulatory powers to allow Americans to account for inflation in determining capital gains tax liabilities.
The Trump administration is considering bypassing Congress to grant a $100 billion tax cut mainly to the wealthy, a...
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conservatives, executive orders, extreme measures, governance, one percent, tax policy
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Publisher: NYTimes

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28 Jul 2018

G.D.P. Grew at 4.1% Rate in U.S. in Latest Quarter. Here’s What That Means.

Economic growth surged in the second quarter — but don’t expect the boom to last. The second-quarter acceleration was widely anticipated by economists, a  result of a confluence of events unlikely to recur. Most economists expect growth to slow in the second half of the year. Still, recent data does suggest that the pace of growth has picked up this year.
Economic growth surged in the second quarter — but don’t expect the boom to last....
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economy, governance, strong economy, tax policy, trade policy
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Publisher: NYTimes

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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...
Tags:
competence, deficits, governance, tax policy
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Publisher: NYTimes

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6 Dec 2017

Tax Plan Crowns a Big Winner: Trump’s Industry

House and Senate  Republicans, in their divergent bills, both offered steeply reduced rates to corporate giants, partnerships and family-owned firms across the board. But when it came time to eliminate special breaks or impose tighter standards, real estate was generally excused from the room.
House and Senate  Republicans, in their divergent bills, both offered steeply reduced...
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conflict of interest, drain the swamp, governance, republicans, tax policy
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Publisher: NYTimes

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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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corruption, deficits, gop, governance, republicans, tax policy
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Publisher: NYTimes

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3 Dec 2017

Tax Bill Offers Last-Minute Breaks for Developers, Banks and Oil Industry

Even hours after the Senate vote, tax experts were scratching their heads over precisely what had made it into the final version of the bill and the impact of some significant  provisions. Still, it was clear that many changes expanded tax benefits for the wealthiest taxpayers, while other attempts to close loopholes fell by the wayside. The bill would add $1 trillion to deficits over the coming decade.
Even hours after the Senate vote, tax experts were scratching their heads over precisely what had made it...
Tags:
99 percent, corporations, extreme measures, governance, republicans, tax policy
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Publisher: NYTimes

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27 Nov 2017

In Tax Debate, Gift to Religious Right Could Be Bargaining Chip

For years, a coalition of well-funded groups on the religious right have waged an uphill battle to repeal a 1954 law that bans churches and other nonprofit groups from engaging in political activity. Now, those groups are edging toward a once-improbable victory as Republican lawmakers, with the enthusiastic backing of President Trump, prepare to  rewrite large swaths of the United States tax code as part of the $1.5 trillion tax package moving through Congress.
For years, a coalition of well-funded groups on the religious right have waged an uphill battle to repeal a 1954...
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conservatives, extreme measures, governance, republicans, tax policy, ultra right
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Publisher: NYTimes

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18 Apr 2017

Trump’s Unreleased Taxes Threaten Yet Another Campaign Promise

As a candidate, Mr. Trump declared that he understood America’s complex tax laws “better than anyone who has ever run for president” and that he alone could fix them. But it is becoming increasingly unlikely that there will be a simpler system, or even lower tax rates, this time next year. The Trump administration’s tax plan, promised in February, has yet to materialize; a House Republican plan has bogged down, taking as much fire from conservatives as liberals; and on Monday, Treasury Secretary Steven Mnuchin told The Financial Times that the administration’s goal of getting a tax plan signed by August was “not realistic at this point.”
As a candidate, Mr. Trump declared that he understood America’s complex tax laws “better than anyone...
Tags:
campaign promises, competence, governance, tax policy
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