Tax cuts

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.

The president said he’s not looking to cut taxes by indexing capital gains as it would benefit the wealthy.

The White House has been considering a move that would largely benefit the wealthy.

As President Trump’s advisers cast about for ways to juice the economy, temporarily trimming payroll taxes has fallen out of favor, and with good reason: Voters might not even notice it.

Economic indicators increasingly point to a potential downturn.

The Trump administration is mulling the possibility of temporarily cutting Social Security and Medicare taxes as a way to spur the economy.

A group of 42 Senate Democrats has sent a letter to Treasury Secretary Steven Mnuchin, urging him to refrain from unilaterally cutting capital gains taxes without congressional approval.

The Trump administration’s tax cuts have had little direct impact on business investment decisions, according to an analysis by the International Monetary Fund.

Senator Ted Cruz is pressuring Treasury Secretary Steven Mnuchin to quickly deliver a tax cut to investors by indexing capital gains to inflation.

A Democratic senator is pushing back against the Trump administration’s plans to cut taxes by indexing capital gains to inflation, a move that he says would only help the wealthy and be illegal.

Extending tax breaks that are intended to benefit families and small businesses come with a steep cost, according to Congress’s nonpartisan scorekeeper.

Democratic presidential candidates like Joe Biden and Kamala Harris have talked about repealing the GOP’s tax overhaul. Yet a large-scale rollback is unlikely. Instead, two other forces could slowly unravel the law — Democrats currently in power in the House and President Donald Trump’s trade policies.