Georgia Moves Closer to Eliminating Income Tax
Lawmakers in Georgia have met to discuss the possibility of axing personal income tax. Supporters say eliminating the state’s income tax could attract businesses and residents, continuing recent tax relief efforts. Critics warn it would force service cuts or higher sales taxes, hitting low- and middle-income households hardest. Why It Matters Georgia has been amending […]
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No Tax on Social Security for Seniors? Trump Big Beautiful Bill Policies Explained
President Donald Trump pledged to end taxes on Social Security as part of the GOP’s ‘One Big Beautiful Bill’ signed into law on July 4. The exact wording of the law actually stipulates a $6,000 tax deduction for individuals aged 65 and older, likely raising the number of seniors who won’t pay taxes on Social […]
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Ruben Gallego Fires Up Iowa Crowd With Attack on Trump’s Tax Bill
Arizona Senator Ruben Gallego fired up a crowd in Iowa on Saturday by attacking the GOP’s tax bill that is backed by President Donald Trump. Speaking at a town-hall meeting in Davenport, eastern Iowa, Gallego, a Marine veteran and Arizona’s first Latino U.S. senator, said the bill, known as the “One Big, Beautiful Bill” would […]
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Major IRS Changes Coming for Business Tax Audits in 2025
The Internal Revenue Service (IRS) announced new guidance on Friday aimed at dramatically reducing examination times for corporate taxpayers while making the audit process more collaborative and efficient. The Interim Guidance Memorandum introduces sweeping changes to how the IRS conducts business tax examinations, with implementation beginning in 2025 and extending through 2026. Why It Matters […]
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Map Shows How Many People Will Lose Healthcare in Each State Under Tax Bill
A number of states could see the population of Americans without health insurance increase by 5 percent if President Donald Trump‘s tax and spending bill is passed, according to data collected by KFF. Louisiana, Washington and Oregon are expected to see the biggest rises in the number of constituents without health insurance if the “Big […]
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Canada and US Trade Talks Resume After Digital Tax Reversal
Canada and the United States have resumed trade negotiations after Canadian Prime Minister Mark Carney agreed to rescind the country’s digital services tax on U.S. technology companies. The development follows President Donald Trump‘s announcement on Friday that he was suspending all trade talks with Canada “effective immediately” over the tax policy. Why It Matters Trump’s […]
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Marjorie Taylor Greene Turns Against Donald Trump’s Tax Bill
By Giulia Carbonaro is a Newsweek reporter based in London, U.K. Her focus is on the U.S. economy, housing market, property insurance market, local and national politics. She has previously extensively covered U.S. and European politics. Giulia joined Newsweek in 2022 from CGTN Europe and had previously worked at the European Central Bank. She is […]
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How Senate Tax Bill Differs From House Bill: What to Know
Senate lawmakers have released proposed tax changes to the One Big Beautiful Bill Act, making a number of changes to the budget plan approved by the House of Representatives in May. Why It Matters The bill is the cornerstone of President Donald Trump’s economic agenda for his second term in office. The Senate Committee on […]
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Trump Admin Gets a Win as Federal Judge Allows IRS to Share Tax Data With ICE
By Gabe Whisnant is a Breaking News Editor at Newsweek based in North Carolina. Prior to joining Newsweek in 2023, he directed daily publications in North and South Carolina. As an executive editor, Gabe led award-winning coverage of Charleston church shooter Dylan Roof’s capture in 2015, along with coverage of the Alex Murdaugh double murder […]
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Trump Floats Creating New Tax Bracket for Wealthiest Americans: Reports
President Donald Trump this week told House Republicans to raise taxes on the richest Americans as part of their sprawling budget bill, according to The New York Times and The Washington Post, which cited people familiar with Trump’s stance. Why It Matters Trump’s reported demand stands in stark contrast to the mainstream Republican position on […]
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