Daily Deduction

Differences, Numbers, and Distribution

March 17, 2016 –

Will the House vote on a budget next week? Majority Leader Kevin McCarthy says no: “More conversations among members will be required before moving...

Caution, Cuts, and a Chunk of Change

March 16, 2016 –

Minnesota’s governor scales back his budget proposal. Given worries about an economic slowdown, Democratic Governor Mark Dayton says , “We need to be...

Budget Battles Continue

March 15, 2016 –

The House Budget Committee released a spending plan for 2017. The panel will mark it up today. The budget would cut $7 trillion from the federal...

Only Thirty-three days till Tax Day!

March 14, 2016 –

Have you received a tax refund yet? About half of US taxpayers expect to get their check in the mail this spring. A new Bankrate survey of taxpayers...

The waiting is the hardest part.

March 13, 2016 –

An international tax reform draft will be here eventually, just not this month. The House Ways & Means subcommittee on tax policy will not have...

Policy, Proposals, and Pleas

March 10, 2016 –

Last night’s debate featured some policy discussion! Donald Trump threatened a 45 percent tax on imports. Ted Cruz said his tax plan would be better...

Schemes, Scams and States' Fights

March 9, 2016 –

The UK Supreme Court rules against two bank tax schemes. It says Deutsche Bank and UBS must pay taxes on two employee bonus plans. In 2003, the banks...

Penalties, a Panel, a Surplus and Rules

March 8, 2016 –

Tax season brings higher ACA penalties for the uninsured. H&R Block reports its customers who owe a penalty under the Affordable Care Act for not...

Budget Chaos, Tax Breaks, Loopholes, and Incentives

March 7, 2016 –

Senate Republicans are delaying their budget. Facing fiscal chaos in the House, Senate Budget Committee Chair Mike Enzi announced yesterday that his...

A clawback, an increase, a release, and maybe a disaster

March 6, 2016 –

New in Hillary Clinton’s tax plan: A clawback. The Democratic presidential candidate would rescind the research and development tax credit and the...