Thomson Reuters Checkpoint released a special report on Tuesday, entitled President’s Fiscal Year 2016 Budget. The President’s budget contains both individual and business tax proposals. The report examines some of the budget’s highlights, including the President’s strategy to strengthen the middle class and help working families.
Other key areas of the report include:
- Individual Taxation Middle Class Relief and Simplification
- Individual Taxation Increase Taxes on the Wealthiest
- Business Tax Incentives
- Small Business Incentives
- U.S. Taxation of International Activity
“Of course, with a Republican Congress in place, many of the tax provisions in the President’s budget, particularly those that raise taxes, will not become law,” stated Jeffrey Pretsfelder, senior tax analyst with the Tax & Accounting business of Thomson Reuters and author of the report. “Nonetheless, the Budget reveals a host of middle-income tax priorities and showcases some sweeping tax changes.”
The special report is available to download for free at tax.thomsonreuters.com/2016Budget.