Democrats have decided to back away from a push to reverse President Trump’s tax cuts. The legislation is something that will be viewed as a legacy moment for President Trump. According to The Hill: Democrats are backing away from vows to reverse President Trump’s tax cuts if they take control of the Senate and White House.
Presidential candidate Joe Biden is promising to raise takes on individuals and businesses if he is elected. The tax hikes will affect individuals making over $400,000 per year. According to Fox Business: “I will raise taxes for anybody making over $400,000,” Biden said. “Let me tell you why I’m going to do it. It’s about
President Trump is considering a creative way to help the restaurant industry that has been hit hard by this pandemic. Trump is reportedly considering restoring the corporate tax deduction for meals to help the industry. According to The Hill: President Trump said Sunday that he would push to restore the ability for corporations to deduct the
President Trump continues to battle Europe over its policies and taxes on big-tech. Recently, President Trump escalated that fight. According to The Hill: The long-running fight between the U.S. and Europe over how to tax American tech giants is heating up. The Trump administration on Monday proposed retaliating against France for a tax on digital
A federal appeals court has ruled in favor of Congress and allowed them to move forward in seeking President Trump’s tax documents. According to The Hill: The federal appeals court in Washington, D.C., on Wednesday ruled that House Democrats can obtain President Trump‘s financial records, setting up a potential Supreme Court challenge. The circuit court judges declined a
New York has passed a law requiring President Trump to disclose his tax returns. In response, President Trump has sued the state of New York and now House Democrats want that lawsuit dismissed. According to The Hill: House Democrats on Monday urged a federal judge to dismiss them from President Trump’s lawsuit challenging a New York