Pompeo will meet with Mexican officials on tariffs. Secretary of State Mike Pompeo will meet with Mexican government officials tomorrow to discuss President Trump’s threats to levy a 5 percent tariff on Mexican goods on June 10 if it does not halt all illegal immigration and drug smuggling.
Trade battles take their toll. The Institute for Supply Management’s Purchasing Manager’s Index asks US manufacturers about new orders, production, employment, supply, and inventories. The index fell by 0.7 percentage points to 52.1 percent last month, its lowest level since October 2016. Some manufacturers said that the increasing cost of tariffs on Chinese goods would weigh heavily on their profit margins.
House Appropriations bill boosts IRS budget, federal worker pay. The draft bill approved by the Financial Services and Government subcommittee would increase funding for IRS enforcement and give federal workers a 3.1 percent raise.
Study: Tax breaks are popular, even when wealthy people benefit the most. Writing for The Washington Post, Vivekinan Ashok and Gregory Huber that survey respondents favor expanding tax expenditures, even when higher-income households get most of the benefits.
Michigan taxpayers are behind on state tax bills, to the tune of $3.32 billion. The reason: unpaid business, withholding, and sales taxes. That $3.32 billion in delinquent taxes could fund a year of road construction. The Michigan Treasury is asking a second collections company to go after unpaid tax debt.
For the latest tax news, subscribe to the Tax Policy Center’s Daily Deduction. Sign up here to have it delivered to your inbox weekdays at 8:00 am (Mondays only when Congress is in recess). We welcome tips on new research or other news. Email Renu Zaretsky at firstname.lastname@example.org.
Posts and comments are solely the opinion of the author and not that of the Tax Policy Center, Urban Institute, or Brookings Institution.
- © Urban Institute, Brookings Institution, and individual authors, 2016.