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Taxes & Budget

Coverage of the national budget and your taxes.

Rep. Richard E. Neal, who is in line to chair the tax-writing Ways and Means Committee next year, said the state and local tax limit should be revisited after one year. (Associated Press/File)

Democrats say wealthier Americans deserve a state and local tax break

By David Sherfinski - The Washington Times

They criticized President Trump's tax cut bill as a giveaway to the rich, but now congressional Democrats are eyeing their own $620 billion tax break that would go heavily to wealthier Americans. Published December 2, 2018

Recent Stories

Chantele Montover, a counter agent with Frontier Airlines, takes food donations to a distribution point for to be given to TSA workers at Orlando International Airport Tuesday, Jan. 15, 2019, in Orlando, Fla. Florida airports are helping federal workers who aren't getting paid during the government shutdown by offering free food, holding a food drive and opening a food bank.  (AP Photo/John Raoux)

From travel to IPOs, how shutdown is upsetting U.S. economy

- Associated Press

Delta Air Lines can't get eight new aircraft in the air. Roughly a million government employees and contractors aren't being paid. Some Americans who are trying to start small businesses face delays in obtaining the required tax identification number from the IRS.

In this March 16, 2017, file photo, air traffic controllers work in the tower at John F. Kennedy International Airport in New York. The partial government shutdown is starting to affect air travelers. Over the weekend, some airports had long lines at checkpoints, apparently caused by a rising number of security officers calling in sick while they are not getting paid. (AP Photo/Seth Wenig, File)

Canada air traffic controllers buy pizza for U.S. colleagues

Associated Press

Canadian air traffic controllers have bought hundreds of pizzas for their American counterparts over the past few days in what has become an industry-wide show of support during the U.S. government's partial shutdown.

Sen. John Barrasso, R-Wyo., left, and Sen. John Thune, R-S.D., stand with President Donald Trump, Vice President Mike Pence, Sen. Roy Blunt, R-Mo., and Senate Majority Leader Mitch McConnell of Ky., as Trump speaks while departing after a Senate Republican Policy luncheon, on Capitol Hill in Washington, Wednesday, Jan. 9, 2019. (AP Photo/Alex Brandon)

Trump storms out of shutdown meeting with Democrats

- The Washington Times

President Trump walked out of shutdown negotiations with Democratic leaders Wednesday after House Speaker Nancy Pelosi refused to agree to any money for his border fence, ending the most contentious meeting yet in the 19-day-old government shutdown with no solution in sight.

In this Nov. 2, 2017, file photo a recruiter from the postal service, right, speaks with an attendee of a job fair in the cafeteria of Deer Lakes High School in Cheswick, Pa. (AP Photo/Keith Srakocic, File)

U.S. employers added a stellar 312,000 jobs in December

- Associated Press

U.S. employers dramatically stepped up their hiring in December, adding 312,000 jobs in an encouraging display of strength for an economy in the midst of a trade war, slowing global growth and a partial shutdown of the federal government.

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.