Trump Speaks Of Administration’s Successes As He Departs White House For Final Time As President
President Donald Trump on Wednesday Vowed That “We Will Be Back In Some Form” After Leaving The White House For The Final Time As President.
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Tax Cuts and Jobs Act
The Now-Complete Democrat Trifecta Threatens Tax Hikes
Though tax policy may have taken a backseat in these Georgia elections, the results raised the chances of significant tax hikes, and the undoing of progress made in the 2017 Tax Cuts and Jobs Act (TCJA), substantially. The most likely tax hikes that President Joe Biden will push for with a Democratic Congress are increases to income tax rates. During the campaign, Biden proposed to raise the top individual income tax rate from 37 percent to 39.6 percent. Taxpayers can only hope that Congress shows restraint and avoids sweeping changes that harm an economy that needs all the help it can get in the middle of a pandemic.
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Taxes Increased On The Wealthy In Many Blue States By Federal Tax Overhaul
New Federal Government Data Reveals The 2017 Tax Cuts And Jobs Act, With The Aim Of Being A Handout To Wealthy Corporations, Turned Out To Be More Progressive In Practice While The Federal Tax Reform, Supported By Trump, Decreased Tax Burdens On The Middle Class.
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