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The incoming Treasury chief will have to reconcile his deficit-reduction plans with the Trump administration's much-anticipated tax cuts.
January 28 -
President Trump reiterated his pledge to eliminate taxes on income from tips during a rally in Las Vegas, where the hospitality and service industry is dominant.
January 27 -
Following the Republican victory in the 2024 election, tax reform and political changes are at the forefront of every accountant's agenda.
January 24Source Advisors -
House Republicans are in talks over raising the cap for state and local tax deductions after winning pledges to include it in a must-pass tax bill this year.
January 23 -
Senate Republicans would like to do a large bill on immigration and energy first and then tackle tax reform in a second bill. House Republicans prefer one large bill.
January 22 -
Trump said in his inaugural address that "instead of taxing our citizens to enrich other countries, we will tariff and tax foreign countries to enrich our citizens."
January 21 -
President Trump signed a series of executive orders after his inauguration, including a hiring freeze for federal government workers, particularly at the IRS.
January 20 -
As we enter the beginning of 2025, bonus depreciation continues to leverage down as more portions of the Tax Cuts and Jobs Act expire.
January 17McGuire Sponsel -
The mood in markets and the financial situation are starkly different from 2017, when Trump and congressional Republicans passed a deficit-expanding tax cut.
January 17 -
Treasury Secretary nominee Scott Bessent warned of an economic crisis that will hammer middle- and working-class people if the 2017 tax cuts aren't extended.
January 16