Treasury Secretary Steven Mnuchin said Thursday that he wants to see ‘very significant’ tax reform passed before Congress’ August recess, in what could prove a tough task as lawmakers work through a complex agenda. ‘We want to get this done by the August recess. We’ve been working closely with the leadership in the House and the Senate and we’re looking at a combined plan,’ he told CNBC in his first television interview since assuming office. (CNBC, 2/23/17)
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But that doesn’t mean critics won’t try to misrepresent the tax bill ahead of President Trump’s State of the Union Address tonight. Here’s how to set the record straight. “American Businesses Can’t Compete” Tax reform will increase after-tax incomes for businesses, allowing them to invest more in their workers. http://ow.ly/KVwc30i5sxp Cutting the corporate income tax rate […]
$353 billion: that’s the drop in revenue Congress can expect if it were to extend provisions otherwise scheduled to expire in the recently-passed Tax Cuts and Jobs Act (TCJA), according to a new analysis from the National Taxpayers Union Foundation (NTUF). In the newest edition of its paper series called “The Baseline,” which examines legislative […]
A staggering 13 billion dollars. More than the value of the entire “Star Wars” franchise.