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Republicans who control the U.S. House of Representatives are trying to overcome internal differences on how to pay for President Donald Trump's sweeping tax cuts, with hardline conservatives ...
The top marginal tax rate on income of 39.6%, provided for under the expiration of the 2001 portion of the Bush tax cuts, was retained. This was an increase from the 2003–2012 rate of 35%. [3] The top marginal tax rate on long-term capital gains of 20%, provided for under the expiration of the 2003 portion of the Bush tax cuts, was retained.
House Republicans released their long-awaited budget resolution Wednesday, which will allow up to $4.5 trillion to be added to the deficit via tax cuts and look to cut $2 trillion in spending over ...
This is an accepted version of this page This is the latest accepted revision, reviewed on 21 February 2025. 2013 tax increase and spending decrease This article is part of a series on the Budget and debt in the United States of America Major dimensions Economy Expenditures Federal budget Financial position Military budget Public debt Taxation Unemployment Gov't spending Programs Medicare ...
Under the TCJA, key changes were made to individual tax laws, including the near-doubling of the standard deduction and increasing the child tax credit to $2,000, from $1,000.
If keeping up with tax changes in the law were a sport, 2017 and 2025 might be considered the Tax Olympics. Recall that during the first year of President-elect Donald Trump’s first term ...
While the seven federal tax rates in the U.S. typically don't change year to year, the income tax brackets applied to each are tied to inflation; the highest tax rate now applies to single ...
3. Harris wants to scale up tax credits for families and first-time homebuyers, while Trump wants to create new tax breaks. Trump’s Tax Cuts and Jobs Act expanded the child tax credit (CTC) for ...