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Taxes & Budget

Coverage of the national budget and your taxes.

President Trump brought his evangel of fixing tax policy to Harrisburg, Pennsylvania, Wednesday, where he said tax reform would be "rocket fuel" for the economy. (Associated press)

Donald Trump says tax reform is economy's 'rocket fuel'

By S.A. Miller - The Washington Times

President Trump promised an audience packed with truckers Wednesday that tax cuts will create jobs and raise wages, moving to blunt the chief criticism that the Republicans' proposed tax reforms are a giveaway to the wealthy at the expense of the middle class. Published October 11, 2017

Recent Stories

In this Thursday, Sept. 28, 2017, file photo, destroyed communities are seen in the aftermath of Hurricane Maria in Toa Alta, Puerto Rico. (AP Photo/Gerald Herbert, File)

House set to pass $36.5B for hurricane, wildfire relief

- Associated Press

The House is on track to backing President Donald Trump's request for billions more in disaster aid, $16 billion to pay flood insurance claims and emergency funding to help the cash-strapped government of Puerto Rico stay afloat.

Illustration on tax reform and trucking by Greg Groesch/The Washington Times

A Trump tax plan to drive economic growth

Trucking is the lifeblood of the American economy. We merge millions of people and machines, 24 hours a day and 365 days a year, to transport nearly every product produced, manufactured and sold. Trucks move approximately 70 percent of the nation's freight, and four out of five communities rely solely on us to deliver the goods to run their businesses, feed their families and fill their homes.

In this on Aug. 22, 2017, file photo, a sign sponsored by opponents of the new Cook County tax on sweetened beverages is posted in the soda isle of Tischler Finer Foods in Brookfield, Ill. (AP Photo by Sara Burnett File)

County officials vote to repeal Chicago-area soda tax

Associated Press

The Chicago-area's penny-per-ounce tax on soda and sweetened drinks was repealed Wednesday after a monthslong conflict that included a court battle and millions of dollars' worth of television ads on both sides.

Tax Reaper Illustration by Greg Groesch/The Washington Times

Why tax cuts will be a tough sell

President Trump's team has proposed tax relief for ordinary Americans and businesses that would boost growth and create jobs. Unfortunately, the recent stock market surge indicates expectations may exceed the gains tax savings could actually provide.

Tax Cuts Growing the Economy Illustration by Greg Groesch/The Washington Times

Stuck on stupendous mistakes

What do you call someone who keeps making the same mistake over and over and fails to learn from others who have made a similar mistake? If one doesn't know history and basic math, and the fact that people adjust their behavior on the basis of incentives, then one should not prove ignorance by commenting on the likely effects of tax changes.

Calvin Coolidge

The Coolidge formula

In school, I liked math the least and history the most. Both can be useful in the coming debate over President Trump's proposed tax reforms.

Productive North Carolina Tax Cuts Illustration by Greg Groesch/The Washington Times

A state model for federal tax relief

As our congressional Republicans begin to shape their tax relief for hardworking Americans, they need not look any further than North Carolina. In the years after rolling out a bold tax relief plan that helps nearly all North Carolinians, the Old North State has become a bellwether model of how to cut taxes.

President Donald Trump participates in presenting the Presidents Cup to the United States team at the Jersey City Golf Club in Jersey City, N.J., Sunday, Oct. 1, 2017, after the United States team defeated the International team in the Presidents Cup for the 7th straight time. (AP Photo/Susan Walsh)

Trump's tax cut: 'Show me the money'

The latest Trump tax cut plan would be a steroid injection for the U.S. economy. Bravo to the White House and congressional leaders for packaging the biggest pro-growth tax cut since Reagan.

President Donald Trump gestures as he walks from Marine One across the South Lawn of the White House in Washington, Wednesday, Sept. 27, 2017, as he returns from Indianapolis. (AP Photo/Carolyn Kaster)

Trump tax reform to increase U.S. deficit

- The Washington Times

Fiscal watchdogs said Wednesday that President Trump's tax reform plan is likely to add trillions in deficits and relies on overly rosy projections of economic growth to minimize its budget impact.

President Donald Trump waves before speaking about tax reform at the Farm Bureau Building at the Indiana State Fairgrounds, Wednesday, Sept. 27, 2017, in Indianapolis. (AP Photo/Alex Brandon)

Trump guts tax code: Slashes rates, kills death tax

- The Washington Times

President Trump unveiled a sweeping tax reform plan Wednesday that dramatically lowers rates, expands the amount of tax-free income everyone can pocket and simplifies the code to a one-page return for most Americans.

In this Sept. 22, 2017, photo President Donald Trump speaks at a campaign rally in Huntsville, Ala. (AP Photo/Brynn Anderson) ** FILE **

A tax cut for all Americans

When you hear the phrase "corporate tax cut," what do you picture? Middle-class workers, or Uncle Moneybags, the character from the Monopoly board game?

In this photo taken Dec. 8, 2016, the Capitol Building as seen in Washington. Congress wrapped up the 114th session early Saturday, a tumultuous two years marked by the resignation of a House speaker, a fight over a Supreme Court vacancy, bipartisan bills on health care and education and inaction on immigration and criminal justice. The new Congress will be sworn-in Jan. 3, 2017.  (AP Photo/Pablo Martinez Monsivais)

Republican tax reform plan heartens small business owners

- The Washington Times

Small business owners are increasingly hopeful they won't get left out in the cold in tax reform, and say they feel encouraged by lawmakers' prioritizing relief both for larger corporations and for such smaller companies that are often subjected to even higher tax rates.

Recent Opinion Columns

Illustration on draining the Washington swamp by Nancy Ohanian/Tribune Content Agency

The high cost of waiting to drain the swamp

"Drain the swamp!" It was the battle cry of Donald Trump's presidential campaign. Many Republican members of Congress echoed that call as well, riding it to victory -- and control of both legislative chambers.

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.

State Sen. Tony Stamas, a Midland Republican, urges the Michigan House to pass economic development tax incentives on Thursday, June 1, 2017, at the Detroit Regional Chamber's Mackinac Policy Conference on Mackinac Island, Mich. Also pictured are Oakland County Deputy Executive Matt Gibb, left, Detroit Regional Chamber President and CEO Sandy Baruah and Gov. Rick Snyder. (AP Photo/David Eggert)

The cure is tax policy, not trade

America's lethargic economy isn't doing so good and President Trump's tax cut plan to get it growing again is stalled in Congress for the foreseeable future.

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.

President Donald Trump holds up a pen he used to sign one of various bills in the Roosevelt Room of the White House, Monday, March 27, 2017, in Washington. (AP Photo file photo)

Obstructions to tax simplicity

Thanks to the beneficence of the federal government (and the calendar), we Americans have until midnight on April 18 to file our income taxes. It's too bad filing taxes wasn't an easier process.

Act on Tax Reform Illustration by Greg Groesch/The Washington Times

Tax reform to jump-start the economy

President Trump's tax reform plan promises to re-energize the American economy, create jobs and slow the increase of the national debt. You might say that the Trump tax plan will "fundamentally transform the United States of America" after "decades of broken politics in Washington" and "eight years of failed policies" under his predecessor's administration -- to use Barack Obama's words from 2008.

Tax Reform for Economic Growth Illustration by Greg Groesch/The Washington Times

Thinking clearly about tax reform

President Trump has said he is going to move on to tax reform after the debacle with Obamacare repeal. Is there any reason that we can expect greater success with the tax reform effort? I argue no, unless the rules in the House and Senate are modified, and those in Congress, whose brains are connected enough to distinguish between tax rates and tax revenues, take control.

Illustration on the Trump budget by Alexander Hunter/The Washington Times

Striking budget gold

What hypocrites liberals and the media are. For weeks on end they've been beating up President Trump for not taking the initiative on the $10 trillion debt build-up under Barack Obama or the runaway entitlement programs that could bankrupt our nation.

Big Bird arrives at the Daytime Emmy Awards in Los Angeles, in this Aug. 30, 2009, file photo. (AP Photo/Matt Sayles, File)

The Budget Theater, now open with the follies

- The Washington Times

A president's budget has the shelf life of a shrimp. A president drafts a budget and sells it with language as chaste and extravagant as the blue sky, and his naysayers dutifully mount their soap boxes to declaim, distort and denounce.

Chart to accompany Moore article of Sept. 5, 2016

The death tax is the unfairest tax of all

It was in 1916 -- 100 years ago this year -- that America made a big, big mistake that has done significant damage to our economy and the fairness of our tax system for an entire century. We are talking about the estate tax, more popularly known as the death tax.

From The Vault

Righting the Ship of Security Illustration by Greg Groesch/The Washington Times

A plan to save Social Security

It is no secret that what the major media seem to care most about is radically different from what concerns average Americans. While the inside-the-Beltway crowd continues to focus on alleged collusion between President Trump and Russia, real concerns like the future of Social Security are ignored.

Gov. Sam Brownback gives a statement to the media Wednesday, June 7, 2017, concerning the Senate and House overriding his veto of a bill raising Kansas income taxes by $1.2 billion over two years. The governor left the news conference without taking questions.  (Thad Allton/The Topeka Capital-Journal via AP)

Kansas legislators abandon Brownback's tax experiment

- Associated Press

Kansas legislators have repudiated the tax-cutting experiment that brought Gov. Sam Brownback national attention, with even fellow Republicans voting to override his veto of a plan reversing many of the income tax reductions he championed in recent years as a way to fix the cash-strapped state's budget.

Budget Director Mick Mulvaney holds up a copy of President Trump's proposed fiscal 2018 federal budget as he speaks to members of the media at the White House on Tuesday. (Associated Press)

Trump sends optimistic budget to pessimistic Congress

- The Washington Times

The White House's newly minted 2018 budget sprints toward balance over the next decade by counting on a major economic growth spurt to boost revenue and deep cuts on the spending side -- all of it enhanced by more than a few gimmicks and wildly optimistic assumptions.

President Donald Trump speaks in the Roosevelt Room of the White House in Washington, Friday, March 10, 2017, during a meeting on healthcare. (AP Photo/Evan Vucci) **FILE**

Budget hawks, anti-tax conservatives support Trump's infrastructure plan

- The Washington Times

President Trump's plan for a $1 trillion program to rebuild America's roads, bridges, railways and airports has won early support from leading budget hawks and anti-tax conservatives because it is expected to be more about regulatory reform and alternative financing than a federal spending spree.