Tax cuts

President Trump referred to the impact of the Tax Cuts and Jobs Act on job creation during his State of the Union address on Tuesday night.

Michael Bloomberg said Saturday he would raise taxes on the wealthy, increase the corporate tax rate, and curb tax-free inheritances of large estates, elements of a tax plan that he says would raise $5 trillion over a decade.

Savings for the top six U.S. banks from President Donald Trump’s signature tax overhaul accelerated last year, now topping $32 billion as the lenders curbed new borrowing, pared jobs and ramped up payouts to shareholders.

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.

The White House is holding informal talks about a second round of tax cuts to announce during the 2020 presidential campaign.

Not as many companies are planning to increase employee wages as a result, according to a new survey by BDO USA. Instead more companies are planning to do stock buybacks, increase corporate dividends and pursue mergers and acquisitions.

The federal government is taking in less money but can’t tell if the shortfall is tied to the 2017 tax cuts or other factors like trade uncertainty, the Congressional Budget Office said in a letter.

The GOP is more focused on making their first tax cut permanent.

The president spoke a day after deciding against cutting the tax on capital gains by indexing gains to inflation.

The president is scheduled to meet with economic advisers Wednesday to discuss the possibility of cutting the tax on capital gains by indexing gains to inflation.