Rocky Mountain Voice

Menu

Tag: Tax cuts

OMB Director Russell Vought: If Trump’s bill fails, expect recession and 60% tax increase
No Comments
Approved, Fox News, National

OMB Director Russell Vought: If Trump’s bill fails, expect recession and 60% tax increase

By Diana Stancy | Fox News OMB Director Russell Vought has cautioned about a recession if Trump's tax and spending package isn't passed The White House is challenging the nonpartisan Congressional Budget Office’s assessment that President Donald Trump’s sweeping tax and spending package will raise the federal deficit by trillions of dollars throughout the next decade. The national debt, currently $36.2 trillion, tracks what the U.S. owes its creditors, while the national deficit measures how much the federal government’s spending exceeds its revenues. So far, the federal government has spent more than $1 trillion more than it has collected this fiscal year, according to the Department of the Treasury.  The Congressional Budget Office (CBO) issued an analysis...
Read More
House Republicans pass $4 trillion tax cut out of committee as members debate SALT cap
No Comments
Approved, National, Washington Examiner

House Republicans pass $4 trillion tax cut out of committee as members debate SALT cap

By Zach Halaschak | Washington Examiner House Republicans on the Ways and Means Committee voted their tax legislation out of committee on Wednesday, moving one step closer to enacting a sweeping fiscal bill that would enact much of President Donald Trump’s domestic agenda. The fate of the bill on the House floor, though, was unclear, as members were still debating deductions for state and local taxes, as well as the amount of spending cuts to be included in the larger legislative package. The committee voted 26-19 to approve the tax part of the legislation after a marathon markup meeting that lasted more than 17 hours. During the markup, Democrats offered up several amendments that were batted down, but this allowed them to air out criticisms of the tax cu...
Read More
Trump budget bill extending first-term tax cuts survives House vote
No Comments
Approved, Fox News, National

Trump budget bill extending first-term tax cuts survives House vote

By Elizabeth Elkind  | Fox News The House of Representatives has adopted a resolution that will eventually become a massive multi-trillion-dollar bill full of President Donald Trump's priorities on the border, defense, energy and taxes. In a major victory for House GOP leaders, the resolution passed in a 217 to 215 vote. All Democrats voted against the measure, along with lone Republican rebel Rep. Thomas Massie, R-Ky., who was concerned about its effect on the national deficit. READ THE FULL STORY AT FOX NEWS
Read More