It Is Happening Every Day, Every Where
Days after he privately encouraged Speaker Mike Johnson to increase tax for the wealthy in a bill to fulfill his agenda, he publicly said it could be a bad idea, one that was ‘OK’ with him.
The president is said to want to create a new top income bracket for people making more than $2.5 million per year and to tax income above that level at a rate of 39.6 percent.
States have long used taxes on hospitals and nursing homes to increase federal matching funds. If Republicans end the tactic, red states could feel the most pain.
The Treasury secretary urged executives and entrepreneurs to look beyond the Trump administration’s trade agenda.
House Republicans are planning to include several of President Trump’s campaign promises in the first draft of the bill, which they hope to release soon.
President Trump first threatened Harvard’s tax status last month. It was not immediately clear if the I.R.S. was in fact moving forward with a change.
A draft document outlines steep cuts or the elimination of funding for programs that provide child care, housing assistance, foreign aid and health research.
The I.R.S. had about 100,000 employees before President Trump took office. Between resignations and layoffs, the I.R.S. is on track to lose about a third of its staff this year.
Hard-line conservatives concerned about the deficit are among President Trump’s most stalwart supporters in Congress. But they say they cannot in good conscience back the budget plan he has endorsed.
Senate Republicans are hoping to ice Democrats out from deciding the fate of President Trump’s 2017 tax cuts, a move that Democrats could eventually use against them.