At his Senate Finance Committee confirmation hearing Thursday, Steven Mnuchin, Mr. Trump’s choice to head the Treasury Department, seemed confused about the Tax Policy Center estimate's of the cost of Trump's tax plan. Here are the facts.
It was probably too good an idea to survive the Washington policy meat grinder, but President-elect Donald Trump may have killed the House Republicans’ favored corporate tax reform before it even had a chance.
Tax Policy Center calculates that the House GOP tax blueprint would significantly reduce effective tax rates on some entrepreneurs, while Trump's most recent plan would only modestly lower their effective tax rates.
Americans are accustomed to getting substantial tax refunds soon after they file their returns, especially if they turn in their paperwork early. But starting with the coming filing season, that won’t be possible for many low-income households.
In a new Tax Policy Center paper, economists draw on many recent tax-reform proposals to design a plan that separates the income tax’s work and child provisions, simplifies filing, and distributes tax benefits more equally.
Trying to parse President-elect Donald Trump’s recent threats against US manufacturers that move production overseas is not easy. One thing is sure: His tweet storm warning of new tariffs raises far more questions than it answers.
California will soon enroll millions of its private sector workers in a state-managed savings program. It's a good start in increasing access to retirement planning, but it faces limits that would be better served on the national level.
Steven Mnuchin says his tax plan would offset any reduction in upper-income taxes with fewer deductions, something that bears little resemblance to any of the multiple plans President-elect Trump proposed during the campaign.
The stock market has been ebullient since President-elect Donald Trump’s victory. Many financial experts are expecting quick congressional approval of infrastructure and defense spending and tax cuts. I would not spend the money yet, says one economist.