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Taxes & Budget

Coverage of the national budget and your taxes.

Rep.-elect Alexandria Ocasio-Cortez, D-N.Y., talks during a news conference with members of the Progressive Caucus in Washington, Monday, Nov. 12, 2018. (AP Photo/Susan Walsh)

Alexandria Ocasio-Cortez: Amazon plans for N.Y. 'extremely concerning'

By Jessica Chasmar - The Washington Times

Rep.-elect Alexandria Ocasio-Cortez sent a flurry of tweets late Monday slamming Amazon for its planned split headquarters in the Long Island City neighborhood of Queens, saying residents are outraged over the billion-dollar company possibly getting "millions of dollars in tax breaks" while the local community is being neglected. Published November 13, 2018

Recent Stories

Northbound Interstate 5 south of Seattle is shown closed at the West Seattle Bridge exit, Saturday, June 2, 2018, in Seattle. The Washington State Dept. of Transportation and its contractors shut down the freeway from the bridge exit to the Olive Way exit in downtown Seattle from Friday night through early Monday morning to complete major repair and renovation work on the roadway. Lane closures south of the full closure added to congestion and drivers were encouraged to use alternate routes. (AP Photo/Ted S. Warren)

Trump advisers warn of gas tax trap in infrastructure deal

- The Washington Times

President Trump and congressional leaders have sounded optimistic about their ability to strike a deal to rebuild America's crumbling infrastructure, but advisers to the White House warn that Democrats are trying to spring a gas tax trap on the president to sabotage his 2020 re-election bid.

Figuring Out the Economy Illustration by Greg Groesch/The Washington Times

Limits of economic knowledge

The good news is that the U.S. economy is now on track to grow more than 3 percent this year for the first time in 13 years. The bad news is that the economy would be growing even faster if it were not for policy mistakes.

Trader Gregory Rowe, left, works on the floor of the New York Stock Exchange, Thursday, Oct. 25, 2018. Strong results from major companies including Microsoft, Visa and Comcast are sending U.S. stocks higher Thursday morning as the market found its footing after three weeks of steep declines. (AP Photo/Richard Drew)

Wall St. disconnect: Traders panicky despite robust economy

- Associated Press

The nerve-wracking anxiety that's gripped the U.S. stock market seems oddly unmoored from economic reality: Despite the turbulence on Wall Street, economic growth is strong, unemployment ultra-low and consumers exceptionally confident.

A customer, who did not want to be identified, displays the $200 worth of Mega Millions tickets he bought at Downtown Plaza convenience store in Oklahoma City, Tuesday, Oct. 23, 2018. (AP Photo/Sue Ogrocki)

Who won the lottery? Why some states allow winners secrecy

- Associated Press

Like the location of Jimmy Hoffa's body, the secret formula for Coca-Cola and the possibility of aliens in outer space, the identity of the winner of the second-biggest lottery in American history may remain hidden forever - because of where the person bought the ticket.

A plan for debt relief

As difficult as it may be to believe, there was a time when Republicans were known as the anti-debt and balanced budget party. Now, the GOP prefers to tout low unemployment as the debt soars and they are co-conspirators in its rise.

President Donald Trump participates in a "Celebration of America" event on the South Lawn of the White House in Washington, Tuesday, June 5, 2018. Trump quickly scheduled the event with military bands after canceling a visit with the Philadelphia Eagles as he stoked fresh controversy over players who protest racial injustice by taking a knee during the national anthem. (AP Photo/Susan Walsh) **FILE**

Trump sees federal deficit soar in first full year

- The Washington Times

President Trump oversaw a massive increase in the deficit during his first full year in office, the Treasury Department announced Monday, pointing to rising spending and stagnant taxes that threaten to send the government back into the realm of trillion-dollar shortfalls.

In this Feb. 11, 2005, file photo, trays of printed Social Security checks wait to be mailed from the U.S. Treasury's Financial Management services facility in Philadelphia. (AP Photo/Bradley C. Bower, File)

Uptick in Social Security checks for 2019 as inflation rises

- Associated Press

Tens of millions of Social Security recipients and other retirees will get a 2.8 percent increase in benefits next year as inflation edges higher. For the average retired worker, it amounts to $39 a month.

In this June 21, 2018, file photo, job applicants talks with representatives from Aldi at a job fair hosted by Job News South Florida, in Sunrise, Fla. On Friday, Oct. 5, the U.S. government issues the September  jobs report. (AP Photo/Lynne Sladky, File)

U.S. adds just 134K jobs; unemployment a 49-year low, 3.7 percent

- Associated Press

U.S. employers added just 134,000 jobs in September, the fewest in a year, though the figure was likely lowered by Hurricane Florence, while the unemployment rate fell to 3.7 percent, the lowest level since 1969.

President Donald Trump gestures while speaking at the Harris Conference Center in Charlotte, N.C., Friday, Aug. 31, 2018. (AP Photo/Pablo Martinez Monsivais)

Trump signs spending bill to keep government open

- The Washington Times

President Trump signed an $854 billion spending bill Friday that will keep the federal government open into the new fiscal year, and he criticized Democrats for refusing to fully fund his border wall.

The Richest Man Illustration by Greg Groesch/The Washington Times

Bad news sells, but optimism wins

For the past two years, most major media outlets have been running non-stop about what a disaster President Trump is, and how his mere existence is a threat to both citizens' pocketbooks and liberty. Yet the economy has been booming, and lower taxes and fewer regulations not only meant more prosperity but more liberty.

Recent Opinion Columns

Speaker of the House Paul Ryan, R-Wis., right, shakes hands after presenting a pen to House Ways and Means Committee Chairman Kevin Brady, R-Texas, left, as Senate Majority Leader Mitch McConnell, R-Ky., second from left, watches after signing the final version of the GOP tax bill during an enrollment ceremony at the Capitol in Washington, Thursday, Dec. 21, 2017. (AP Photo/Andrew Harnik)

A tax cut for America

Most of the gifts exchanged at this time of year are opened on Christmas Day. But this time around, a big one arrived a few days early: the Tax Cuts and Jobs Act.

Chart to accompany Moore article of June 19, 2017

Much fast growth right around the corner

Every day there are legions of new economists who dismiss the Donald Trump economic agenda and his forecast of 3 percent growth as a wild-eyed fantasy. The consensus is that the economy "can't possibly grow at 3 percent" says The Wall Street Journal. "Slow growth is the new norm, so get used to it," writes Rucir Sharma, Morgan Stanley, chief global strategist at Morgan Stanley in Foreign Affairs magazine this month.

Illustration on President Trump's approach to regulation by Alexander Hunter/The Washington Times

Pulling the administrative state off autopilot

This past weekend marked President Trump's 100th day in office. While tax cuts and health care reform have been discussed, neither has moved forward. With a potential fight over the debt limit looming, there is surely a lot that could be said about what Mr. Trump has and has not accomplished over the last few months. But there is at least one bright spot: reducing burdensome federal regulations.

From The Vault

In this June, 19, 2018, file photo, an Evergreen Line refrigerated container is delivered to a ship-to-shore crane working the container ship Ever Linking at the Port of Savannah in Savannah, Ga. On Thursday, Sept. 27, the Commerce Department issues the final estimate of how the U.S. economy performed in the April-June quarter. (AP Photo/Stephen B. Morton, File)

U.S. economy grew at robust 4.2 percent rate in Q2

- Associated Press

The U.S. economy grew at a robust annual rate of 4.2 percent in the second quarter, the best performance in nearly four years, but economists believe growth has slowed in the current quarter, in part because of a drag from trade.

In this Jan. 30, 2018, file photo, an employee of Aldi, right, takes an application from a job applicant at a JobNewsUSA job fair in Miami Lakes, Fla. On Friday, April 6, 2018, the U.S. government issues the March jobs report. (AP Photo/Lynne Sladky, File)

U.S. added modest 103K jobs in March; rate stays 4.1 percent

- Associated Press

U.S. employers added a modest 103,000 jobs in March after several months of robust gains, though the government's overall jobs report suggests that the labor market remains fundamentally healthy.

By last weekend, at least 2 million workers received bonuses, pay raises or other benefits from more than 130 companies as a result of the tax cuts. AT&T gave its 200,000 employees $1,000. The corporate tax rate fell to 21 percent. (Associated Press)

Big business backs Trump tax cuts with bonus payouts

- The Washington Times

House Minority Leader Nancy Pelosi has belittled the burgeoning number of tax cut bonuses handed out by employers to millions of employees as "crumbs," but to workers receiving them, it's welcome cash in their pockets.

Illustration of Arthur Laffer by Alexander Hunter/The Washington Times

An ode to the Laffer Curve

The unsung hero of the Republican Christmas gift of a tax cut is Arthur Laffer — the Reagan economist who helped devise the Gipper's tax reductions. Those tax cuts rebuilt the U.S. economy in the 1980s and pulled us out of the mini-depression of high inflation and unemployment in the late 1970s.

Sen. Orrin Hatch, R-Utah, gets on an elevator on Capitol Hill in Washington, Tuesday, Dec. 5, 2017. (AP Photo/Susan Walsh) ** FILE **

Republicans strike deal on tax package

- The Washington Times

Republican negotiators on Wednesday said they've managed to strike a deal on a $1.4 trillion tax-cut package and that they'll be prepared to send it to President Trump's desk next week.