President Biden signs the wide-ranging Inflation Reduction Act
President Biden signed into law on Aug. 16 the Inflation Reduction Act (IRA). The $740 billion bill contains many tax breaks and raises revenue through a new minimum tax on large, profitable corporations and an excise tax on stock buybacks. It’s intended to reduce the U.S. deficit by about $300 billion. Other revenue would come […]
2017 Tax Reform: What Congress and the President are considering now
As reported by Reuters, President Donald Trump and congressional Republicans are now tackling tax reform. Tax staffers are meeting in the House of Representatives and the Senate through the August break to work on legislation that is expected to be unveiled next month. Here are some of the key issues that Congressional staffers and the […]