House Democrats’ lawsuit seeking President Donald Trump’s federal tax returns was put on hold as a judge said he’s waiting for a higher court’s ruling in a separate case on whether Congress can make ex-White House counsel Don McGahn testify.
The White House continues to work on a tax-cut plan in hope that Republican lawmakers will be in control of Congress after the 2020 elections, President Donald Trump’s top economic aide Larry Kudlow said.
Consumers in 2019 were more likely to say plans to hike taxes on the wealthy would harm economic growth than they were in prior years, despite it being a key campaign pledge for nearly every Democratic presidential candidate, according to a new University of Michigan survey.
Congressional spending bills are expected to permanently repeal the “Cadillac tax” and other taxes funding the Affordable Care Act, raise the tobacco purchasing age to 21, and extend the U.S. Export-Import Bank for seven years, according to a senior House Democratic aide familiar with the talks.
House Democrats are making a last-ditch bid to reverse the $10,000 cap on state and local tax deductions before year’s end. But they’ll likely need to renew their efforts in 2020 — or beyond — because the legislation has no chance of becoming law this year.