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What the House GOP's tax plan will mean for different income brackets

Nov 2, 2017
The GOP is reducing the number of tax brackets to four and making changes to popular deductions.
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Inside the last-minute wrangling on the tax bill

Nov 1, 2017
Today is not the day we get a look at the GOP tax plan. Late last night, the House Ways and Means committee delayed the scheduled release of the text of the bill by a day. For now, there are many details to be worked out before the big reveal. Word is, Republicans are still […]

How will millionaires fare in the tax bill?

Nov 1, 2017
Today, we’re expecting to get details on the proposed Republican tax bill. One thing to look out for is a possible change to the way top earners are taxed. A so-called millionaire’s tax has been floated to a mixed reception. Some say such a tax would be aimed at making the bill more sellable.  Click […]

As Republicans get ready to reveal a tax plan, a look at how they might pay for it

Oct 31, 2017
With all the focus on the Republican tax plan due out this week, we take a look at some of the ways they may pay for it: cuts to Medicaid and Medicare. The Republicans’ budget blueprint calls for funding reductions to both programs. What might that mean for low-income people and seniors who depend on […]

Hey! Hands off my deduction

Oct 27, 2017
The battle lines are being drawn as the tax bill nears.

What happened to the GOP’s deficit hawks?

Oct 17, 2017
The Senate is pushing ahead on a budget vote this week. That framework would move the GOP a step closer to the tax overhaul it has promised. The Senate plan allows for as much as $1.5 trillion in tax cuts over the decade. Those cuts could blow a $2.4 trillion hole in the budget, the […]

Senate budget battle likely as vote looms

Oct 17, 2017
The Senate is expected to take up a budget framework this week. If it passes, the GOP will be one step closer to the tax overhaul it so desperately wants. President Donald Trump promised yesterday in a Rose Garden press conference with Senate Majority Leader Mitch McConnell that the tax plan is on track. But […]

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The GOP tax plan has fewer tax brackets and bigger deductions, but is light on details

We’ll have three brackets instead of seven, with the option of a fourth for the wealthiest Americans.
Tim Boyle/Getty Images

Reconciliation budget rule may not help GOP repeal Obamacare in time

Sep 22, 2017
In Washington, it’s another day of drama as Republicans race against the clock to repeal Obamacare. Senator John McCain said today he could not, in good conscience, vote for the latest version of the Obamacare repeal. That means if one more Senate Republican becomes a hard no, the bill is basically dead. In a statement, […]

Officials fight to keep the state and local tax deduction

Sep 22, 2017
GOP lawmakers consider eliminating it as apart of a tax-reform plan.
Anticipating a high volume of calls and the ensuing backlog, the IRS is urging people to prepare as much as possible this tax season.
Justin Sullivan/Getty Images