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The Latest Breaking News from Tax Cuts

Conservatives’ budget plan renews battle over seniors’ benefits

WASHINGTON — The largest bloc of House conservatives offered up a fiscal blueprint Wednesday that promises to balance the federal budget in seven years, make GOP tax cuts permanent and slash domestic spending.

Tribune News Service

GOP bill: $24 billion tax cut for top 1%

The average member of the 1 percent would save $16,550 under the plan

Salon

Texas Property Tax Relief in 2024

Homeowners have started saving due to a Texas property tax relief package passed last year. Here's a breakdown of the tax cuts.

Kiplinger

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What to Do Before the Tax Cuts and Jobs Act Provisions Sunset

Parts of TCJA (also known as the Trump tax cuts) are set to expire by the end of 2025, so the sooner you act, the more options you’ll have to take advantage of today's lower taxes.

Kiplinger

Tax cuts without lower inflation is ‘betrayal’ of Thatcher, says minister

Gillian Keegan said the Government would need to ensure ‘sound money’ and financial stability before planning to cut taxes.

The Independent UK

How Two Tax Laws Make REITs More Tax-Friendly

Taking advantage of the return of capital (ROC) and Tax Cuts and Jobs Act rate reductions can significantly reduce the taxes on REIT distributions.

Kiplinger

Texas Republicans are fighting over how to split $12.3 billion in property tax breaks between homeowners and businesses

Gov. Greg Abbott and House Speaker Dade Phelan back a plan that spreads property tax relief among all landowners, while Lt. Gov. Dan Patrick’s proposal would give homeowners a bigger boost than businesses.

The Texas Tribune

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National still taking bait from streetfighter Hipkins

With the polls narrowly backing a National/ACT government, National should have the confidence to come out from the shadows and more positively assert its own agenda, says Peter Dunne

Newsroom.co.nz

Republican priorities on school choice, border fail, but late-night compromises resurrect others

Rushed agreements and suspended rules rescue legislation on the electric grid and economic incentives for companies, and work is still being done on a property tax proposal.

The Texas Tribune

Labour goes negative on National-ACT 'cuts'

Labour kept up its attacks on the Opposition's proposed tax cuts but fumbled its own number-crunching at a party congress.

Newsroom.co.nz

A thought experiment, 1939: will a Nazi Europe buy our lamb?

How might things have gone had we looked to the ideology of tax cuts to defeat fascism in WWII, asks Nicholas Agar?

Newsroom.co.nz

IMF says UK no longer heading for recession but urges against tax cuts

Jeremy Hunt should squeeze public spending and cut debt, says Washington-based body

The Guardian - UK

NC governor declares ‘state of emergency’ due to GOP school voucher expansion, tax cuts

RALEIGH, N.C. — Democratic Gov. Roy Cooper declared Monday that “public education in North Carolina is facing a state of emergency” in the face of “extreme legislation” being promoted by Republican state lawmakers.

Tribune News Service

Alan Kohler: The battle for America’s heart, soul and future

Republicans are threatening to force America to default on its debt if there isn’t a crackdown on welfare for the poor.

The New Daily

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The Independent UK

Jeremy Hunt hints at tax cuts as he urges Tories not to talk the country down

Jeremy Hunt said the push to cut inflation would result in tax cuts

The New Daily

Of the many things the budget didn’t explain, this could be the most important

Did the budget leave the Albanese government, just one year old this week, the maximum amount of political room to move?

Kiplinger

States Where You’ll Pay Less Income Tax in 2023

Many states have lowered personal income tax rates for this year. Do you live in one?

Daily Mirror

Kwasi Kwarteng STILL not sorry for Budget misery he caused - as he's 'looking forward'

Mr Kwarteng, who was sacked by Liz Truss as she desperately tried to stay in Downing Street in October last year, sparked chaos by announcing a wave of tax cuts which spooked the markets.

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The New Daily

Cost of stage-three tax cuts balloons to $313 billion

The cost of the stage-three tax cuts has blown out to $313 billion over 10 years, with more than half of the benefit set to flow to rich.

The Guardian - AU

Morning Mail: cost of tax cuts to soar, Biden cancels Australia visit, call to regulate AI

Income earners in top 20% set to scoop $227.6bn of total $313.1bn benefit; president to focus on domestic political deadlock due to US debt

France 24

Macron’s tax cuts attempt to woo the French middle class

French President Emmanuel Macron announced on Monday evening tax cuts of up to €2 billion for the French people. The announcement targets France’s middle class, which has borne the brunt of high inflation and stagnating salaries over the past few months.

The Guardian - AU

Stage-three tax cuts cost blowout predicted, with men and the wealthy to benefit most

Adam Bandt decries ‘massive black hole’ after Parliamentary Budget Office analysis puts cost at $313bn over a decade

Radio France Internationale

Macron promises €2 billion in tax cuts for French middle class

As part of his continued attempt to move past his government’s contentious pensions reform, French President Emmanuel Macron has announced two billion euros of tax cuts for the middle class before the end of his term.

The Texas Tribune

Why tax policy experts fear the Texas House plan to lower property taxes could have dire ripple effects

Both the House and the Senate’s proposals on property tax cuts would give modest savings to the typical Texas homeowner, but critics say the House plan could create vast inequities and disproportionately benefit wealthy homeowners.

The Guardian - AU

Failure to protect nature is a bigger threat to humanity than inflation, Australian scientists warn

‘For just 10% of the stage-three tax cuts, we could recover every one of Australia’s almost 2,000 threatened species,’ says ecologist

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