Taxes
  • FILE PHOTO - A man, wearing a hat with an embroidery of the U.S. flag, votes on election day at a polling station in Harlem, New York, U.S., November 8, 2016. REUTERS/Bria Webb/File Photo

    What the Exit Polls Revealed on Taxes and Health Care

    By The Fiscal Times Staff

    Here's what exit polls told us about some key issues: 45 percent: NBC News’ exit poll found that 45 percent of voters said the Republican tax cuts had no impact on their personal finances, compared...

  • Senate Minority Leader Chuck Schumer and House Minority Leader Nancy Pelosi speak at the National Press Club in Washington

    Dems Will Target GOP Tax Cuts in the New Year

    By Michael Rainey

    Democrats will attempt to undo tax cuts for wealthy households when they take over the House in January, The Wall Street Journal’s Richard Rubin reports . The move will likely come as part of an...

  • Pelosi leads Democratic members of Congress in a rally at the U.S. Capitol in Washington

    What Should Democrats Do Now That They’ve Won the House?

    By Michael Rainey

    With Democrats winning control of the House Tuesday, political experts are lining up to give advice on what they should do with their new powers. While there’s little chance of enacting significant...

  • The Wall Street bull is seen in the financial district in New York

    Share Buybacks Come Roaring Back

    By Michael Rainey

    Publicly-traded U.S. corporations have resumed share buybacks at a torrid pace, following an informal blackout period prior to third-quarter earnings announcements, CNBC reported Thursday. Analysts...

  • An unidentified voter casts his ballot at a local polling station in Miami

    5 Tax and Spending Takeaways from the Midterm Elections

    By Michael Rainey

    Tuesday’s election results changed the outlook for some key tax and spending proposals. Here are 5 takeaways from the midterm vote: 1. The GOP’s “tax cuts 2.0” effort is dead. The Republican plan to...

  • Chart of the Day: Big Tax Cut Winners

    By Michael Rainey

    Just 17 publicly-held U.S. oil and gas companies have reported a combined $25 billion in direct, one-time benefits from the GOP tax overhaul, according to an analysis in Pacific Standard . ExxonMobil...

  • Business Economists More Optimistic on Growth After Tax Cuts, Spending Increases

    By Michael Rainey

    While the omnibus spending bill is still making political waves in Washington, business economists like what they are seeing in current fiscal policy. The latest survey from the National Association...

  • Does the IRS Need a Bigger Budget?

    By Michael Rainey

    The IRS is receiving an extra $320 million to help cover the costs of implementing the Republican tax overhaul, funds that can be used over the next 18 months to assist taxpayers, revise hundreds of...

  • A general view of the U.S. Internal Revenue Service (IRS) building in Washington

    Spending Bill Includes $320 Million for IRS to Implement Tax Law

    By Michael Rainey

    A frequent target of Republican scorn, the IRS has seen its budget cut significantly in recent years. But the spending deal for 2018 boosts the agency’s budget by $196 million compared to 2017, for a...

  • 22. Construction Superintendent

    Who Benefits from ‘Opportunity Zones’?

    By Michael Rainey

    Governors have until today to nominate “opportunity zones” that are intended to bring investment capital and jobs to low-income communities in their states. The GOP tax bill established rules for the...

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