The January 17, 2018, morningtake announced that End Citizens United has developed a 15-second ad that will be running on social media.
You can view the post below:
Tag: GOP tax scam
New tax guidelines rely on workers to double-check their paychecks
The following article by Damian Paletta was posted on the Washington Post website January 11, 2018:
Treasury Secretary Steven Mnuchin on Jan. 11 said the IRS will release a “new withholding calculator” as part of the implementation of the GOP tax bill. (Reuters)
Millions of Americans will need to use a new Internal Revenue Service online calculator to ensure their new paychecks are accurate, Trump administration officials said Thursday as they issued guidelines for implementing the recently passed tax law.
The guidelines are necessary for businesses to calculate how much to withhold in taxes from employees’ paychecks beginning as soon as next month. The White House said Thursday that businesses should make these adjustments by Feb. 15, part of the administration’s push for millions of workers to see bigger paychecks as quickly as possible. Continue reading “New tax guidelines rely on workers to double-check their paychecks”
Minnesotans could face significant state tax hike next year in wake of federal changes
NOTE: Rep. Paulsen voted for this bill in committee and on the floor of the U.S. House.
The following article by J. Patrick Coolican was posted on the StarTribune website January 11, 2018:
Without changes, that’s how much more Minnesotans could pay under new law
The federal tax overhaul passed late last year could mean a hefty state tax increase for Minnesotans.
If the Legislature simply conforms the state tax code to its federal counterpart — which has been standard practice in recent years — then state government would collect an additional $813 million in taxes next fiscal year, and $1.49 billion during the two years after that, due to major changes in federal tax law approved late last year by the Republican Congress and President Donald Trump.
That’s according to an estimate released this week by the state Department of Revenue. But Sen. Roger Chamberlain, R-Lino Lakes, said Minnesotans shouldn’t worry. Continue reading “Minnesotans could face significant state tax hike next year in wake of federal changes”
New tax guidelines rely on workers to double-check their paychecks
The following article by Damian Paletta was posted on the Washington Post website January 11, 2018:
Treasury Secretary Steven Mnuchin on Jan. 11 said the IRS will release a “new withholding calculator” as part of the implementation of the GOP tax bill. (Reuters)
Millions of Americans will need to use a new Internal Revenue Service online calculator to ensure their new paychecks are accurate, Trump administration officials said Thursday as they issued guidelines for implementing the recently passed tax law.
The guidelines are necessary for businesses to calculate how much to withhold in taxes from employees’ paychecks beginning as soon as next month. The White House said Thursday that businesses should make these adjustments by Feb. 15, part of the administration’s push for millions of workers to see bigger paychecks as quickly as possible. Continue reading “New tax guidelines rely on workers to double-check their paychecks”
Analysis: Five Ways Trump Dimmed the Tax Bill Glow
The following article by John T. Bennett was posted on the Roll Call website January 5, 2018:
Chaos returns to White House, overshadowing legislative agenda
President Donald Trump was excited, beaming behind the storied Resolute Desk three days before Christmas. He joked with reporters and offered camera operators presidential ink pens. And he boasted that, after a year with more downs than ups, he was starting to figure out how to be president.
“So, you know, it’s been a process,” he said after securing his first major legislative win by signing a GOP tax bill into law — and terminating the Obama-era health law’s individual mandate at the same time. “It’s been a great process. Really beautiful.” In the days that followed, he assured members of his Mar-a-Lago club in South Florida his administration was about to have a “great” second year.
Trump and his team were riding high. The president continued to be in high spirits on Christmas Eve, boasting about his first-year achievements and predicting more in 2018. He even tracked Santa Claus with NORAD and called children, a symbolic victory lap in his self-proclaimed win in the so-called “War on Christmas.” Continue reading “Analysis: Five Ways Trump Dimmed the Tax Bill Glow”
How closely did the tax bill resemble Trump’s campaign promises?
The following article by Louis Jacobson was posted on the Politifact website January 2, 2018:
The tax bill that President Donald Trump signed into law on Dec. 22, 2017, was a large and consequential piece of legislation. It was also the culmination of no fewer than nine of Trump’s campaign promises. So how did he do?
Upon review of the bill’s provisions, we found only one pure Promise Kept in the bill, compared to four we rated Promise Broken. But he made significant, if imperfect, progress on four other promises, and we’ve rated these Compromise. Continue reading “How closely did the tax bill resemble Trump’s campaign promises?”
Companies Are Handing Out Bonuses Thanks to the Tax Law. Is It a Publicity Stunt?
The following article by Landon Thomas, Jr. was posted on the New York Times website January 3, 2018:
The big corporate tax break that became law last month is great news for companies and their investors. But what about employees? How much of the corporate tax windfall will go to workers via higher wages?
Since President Trump signed the $1.5 trillion tax cut into law on Dec. 22, nearly 20 large companies have announced some form of bonus or wage hike for their employees. Will they make a difference? Or are they merely publicity stunts?
“This is not a P.R. stunt,” said Teresa Tanner, who oversees marketing and human resources at Fifth Third Bank, a regional lender in the Midwest that is raising its minimum wage and giving some employees a $1,000 bonus. “The tax cut will be an ongoing benefit for us and we wanted to share this with our employees. It is the right thing to do.” Continue reading “Companies Are Handing Out Bonuses Thanks to the Tax Law. Is It a Publicity Stunt?”
Republicans passed their tax bill. Now they’re spending $10 million to promote it.
The following article by Mike DeBonis was posted on the Washington Post website January 3, 2018:
A nonprofit group with ties to Republican congressional leaders is broadcasting TV ads to promote the GOP tax bill and those who voted for it. (American Action Network)
Two weeks ago, Republicans passed their massive rewrite of the federal tax code. Now a GOP group is spending millions to convince voters they will benefit from it.
The American Action Network, a nonprofit group with close ties to Republican congressional leaders, is launching a $2 million round of TV ads promoting the tax bill Wednesday, the first salvo in a $10 million campaign to give key House Republicans a boost going into November’s midterm elections.
The ads, running in 23 districts, feature a couple sitting on their couch extolling the benefits of the bill — “will save a typical family more than $2,000”; “helps create jobs and boost middle-class income” — and thanking the local lawmakers for their votes.
So far, the public is not sold. Several public polls released last month, including surveys from CNN and the Wall Street Journal/NBC News show that pluralities of Americans oppose the GOP tax bill, citing its benefits for corporations and the wealthy. Many Americans, the polls show, believe they will see a tax hike under the bill — not a tax cut.
The centerpiece of the $1.5 trillion bill is a dramatic cut in the corporate tax rate from 35 percent to 21 percent. Many business owners, meanwhile, will be entitled to a new 20 percent deduction on their business income, and wealthy Americans will see more of their assets sheltered from the federal estate tax. Wage earners see comparatively scant benefits — a larger standard deduction and child tax credit, as well as modestly lower income-tax rates, all of which will expire after 2025.
Democrats have been eagerly pointing to the outsize benefits for corporations and top earners, but Republican leaders believe that the public will warm to the bill once they see the benefits. For instance, employers are expected to start withholding less income tax from employee paychecks starting in February. “If we can’t sell this to the American people we ought to go into another line of work,” Senate Majority Leader Mitch McConnell (R-Ky.) said after the Senate vote.
Republicans are forging ahead with their promise to overhaul the tax code, even with very little public support for their proposal. (Video: Jenny Starrs/Photo: Jabin Botsford/The Washington Post)
ut sell it they must, said Corry Bliss, who runs the American Action Network and its affiliated super PAC, the Congressional Leadership Fund. Amid major head winds for Republican candidates this year, his theory for doing so is simple: Lawmakers must make the case to voters that they have made a difference in everyday lives, and “grand economic theory” about boosting economic growth won’t get it done.
“It has to be connected to the individual,” he said Tuesday. “People care about themselves and their family, and they will reward people who are looking out for them and they will punish people who are not looking out for them.” Continue reading “Republicans passed their tax bill. Now they’re spending $10 million to promote it.”
Rep. Ted Lieu Talks GOP Tax Bill on CNN’s New Day
The following video was posted on YouTube December 26, 2017:
View the post here.
New tax law expected to slow rise of home values, creating winners and losers
The following article by Kathy Orton and Aaron Greg was posted on the Washington Post website December 29, 2017:
The steady increase in housing prices in many of the nation’s priciest markets, including the Washington region, is expected to slow in coming years, analysts say, as the Republican tax law begins to reshape a major part of the U.S. economy.
For generations, the tax code has subsidized homeownership, particularly for people in the upper middle class and beyond. The Republican tax legislation, however, pushed in the opposite direction, scaling back subsidies once thought untouchable. Continue reading “New tax law expected to slow rise of home values, creating winners and losers”