House Republicans are resurging efforts to install a national sales tax and abolish the Internal Revenue Service but with a new focus to entice support — if enacted into law, illegal immigrants would be required to pay taxes.
The President-elect announced plans to create a new agency to collect tariffs and other revenues from foreign nations, though economists consider tariffs a mostly inefficient way for governments to raise money.
N.Y., introduced a bill to reallocate funds from Internal Revenue Service (IRS) enforcement to hiring U.S. Customs and Border Protection agents.
In the horse-trading to preserve Trump’s tax cuts, some House Republicans seek a SALT cap increase. Right now, the House has 219 Republicans; the special election to fill the seat of Republican Matt Gaetz of Florida will be held April 1. (Insert your preferred April Fools’ Day joke here.)
Plus: Relief for taxpayers impacted by wildfires, itemizing deductions, civil forfeiture programs, Direct File, Tax Cuts and Jobs Acts, tax filing deadlines, and more
The new budget forecasts predicted that the United States will record a $1.9 trillion budget deficit this fiscal year and that annual deficits over the next decade will total $21.1 trillion. That will be piled on to a national debt that currently exceeds $36 trillion.
Republicans on the House Budget Committee are considering more than 200 potential budget cuts, tax breaks, tariffs and changes to programs like Medicare and Social Security in preparation for
Trump declared next Monday will be the “birth date” of the IRS counterpart as tariffs become a core storyline at the start of his second term.
The proposal is a contrast to the Internal Revenue Service, the government’s tax collection agency, which has faced harsh scrutiny from Republicans. “Through soft and pathetically weak Trade ...
He compared his planned creation to the Internal Revenue Service, which is the nation’s domestic tax collector. The creation of a new agency requires an act of Congress, and Republicans hold the ...