The GOP tax cuts may add about 0.8 percent to GDP growth during the next 10 years, according to several budget models. But that’s economic growth for an economy that’s already heating up. And you know who you call when the economy gets too hot? The Federal Reserve. It’s the Fed’s job to come in […]
Making the rounds on Capitol Hill yesterday was Kansas Gov. Sam Brownback. He was talking up his tax cuts in Kansas from 2012 as a model for the GOP to follow in its national tax plan. Thing is, the five years since those Kansas tax cuts were put in place have not been kind to […]
Low-income families with young children wouldn’t see a lot of benefit from the House or Senate tax overhauls, according to a new study from the left-leaning Tax Policy Center. It found the tax cut proposals tilt heavily toward middle- and upper-income families. That’s even if the final version of the tax overhaul increases the child […]
It looks like the Senate is going to vote on its ever-in-flux tax plan this week. Even though this bill could add up to $1.5 trillion to the deficit, there are consequences beyond just adding to the national debt. The Senate has something called pay-as-you-go rules, which basically say it has to offset revenue losses […]
While the drama over at the Consumer Financial Protection Bureau is ongoing, the big story in Washington right now is still taxes. Members of Congress are back from their holiday break, and Republicans are doing their best to tweak and prod the tax plan to garner enough votes to get it through the Senate. That […]
The revised House tax plan eliminates deductions for tuition and interest paid on student loans and other higher education credits to help pay for tax cuts.
