Connecticut Gov. Lamont Proposes $336 Million in Tax Cuts

Gov. Ned Lamont said he is proposing a package of legislative proposals that would provide for $336 million in tax relief for state residents.

The governor announced the first package of tax aid comes as the state has a projected $1.48 billion surplus in its operating budget. The surplus, Lamont said, enables the tax cuts to be built into the budget and will ensure the state’s Rainy Day Fund remains strong.

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Trump Ended His First Year With Big Tax Cut Win, Biden Finishes His With Crushing Manchin Loss

Buffeted by a Russia scandal that proved false, Donald Trump ended the first year of his presidency on a high note with passage of historic tax cuts. In contrast four years later, Joe Biden’s first year in office is ending with a stunning rebuke from a senator in his own party.

On Sunday, Sen. Joe Manchin (D-W.Va.) gave a resounding “No” to Biden’s signature Build Back Better legislation, leaving an uncertain path for the Democrats’ ambitious agenda despite the fact they control the Senate, House and White House.

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Studies: Trump Tax Cuts Helped Lower Income Families, Build Back Better Helps Wealthier Americans

family of three eating pizza

Democrats have argued that the tax reforms implemented through the 2017 Tax Cuts and Jobs Act (TCJA) only benefited the rich, and that the Build Back Better Act (BBBA) will help middle-and working-class Americans the most.

But several nonpartisan groups found that the TCJA reduced the tax burden for the middle- and working-class by up to 87% and, they argue, the $2.4 trillion BBBA – before the U.S. Senate this week – would increase taxes on the middle- and working-class by up to 40%.

A new analysis published by the Heartland Institute found that the TCJA reduced the average effective income tax rates for taxpayers in every income tax bracket – but the lower- and middle-class saw the greatest benefits – with the lowest-income filers receiving the largest tax cuts.

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Governor Mike DeWine Signs Ohio Budget into Law

Ohio Governor Mike DeWine (R) signed the state’s budget into law in the early hours of Thursday morning — but not without vetoing several components of the bill.

The budget, which will find the state’s operations for two years, including key provisions such as tax cuts and the funding of public K—12 schools.

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Analysis: Federal Tax Overhaul Increased Taxes on Wealthy in Many Blue States

The 2017 Tax Cuts and Jobs Act, harpooned by progressive Democrats as a handout to wealthy corporations, turned out to be more progressive in practice, new data from the federal government revealed. 

The federal tax reform measure supported by President Donald Trump increased taxes on some wealthy property owners in high-tax jurisdictions such as Illinois and New Jersey and decreased tax burdens on the middle class. 

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Commentary: Embrace Fiscal Responsibility, Not Tax Cuts, in 2020

As Democratic presidential candidates stumble over one another in a headlong rush towards socialism and fiscal insanity—promising trillions in new spending on everything from child care, health care, and higher education for all, to “the Green New Deal” and slavery reparations—President Trump faces a critical choice.

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Trump Tax Cuts Spur Unexpectedly High State Revenues

by Evie Fordham   The Tax Cuts and Jobs Act touted by President Donald Trump is one of three reasons that at least 19 states are reporting unexpectedly high general fund revenue halfway through fiscal year 2019, tax policy expert Adam Michel told The Daily Caller News Foundation Thursday. “Trump…

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Trump Tax Cuts At Risk: Democrats Conspire to Repeal While Record Low Unemployment Surges

Steve Gill

Tennessee Star Political Editor Steve Gill discussed on Monday’s edition of The Gill Report – broadcast on Knoxville’s 92.3 FM WETR – how Democrats are conspiring to repeal the Trump tax cuts while record low unemployment among Hispanic and African-Americans surge and the federal government rakes in a record amount of…

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Hardly ‘Crumbs’: Cookie Maker Hires Five Workers, Raises Pay, Expands Production Under Tax Cuts

Joseph Semprevivo

by Rachel del Guidice   The overhaul of the tax code by congressional Republicans didn’t produce just crumbs for the business of a popular cookie maker based in Florida. The Tax Cuts and Jobs Act has meant hiring, raises, investment in new equipment, and expanded operations, he says. “It has had…

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