Home buyers, home builders and others would lose...
Two-thirds of the $1.5 trillion in tax cuts proposed by House Republicans would go to business, one-third to individuals, Peter Coy reports on bloomberg.com.
Hedge funds would keep a key tax break. Home buyers would lose one. But it’s just a bill, he wrote.
Even if the current plan passes the House, it can’t survive intact in the Senate, which has stricter rules against adding to long-term deficits, he added.
Here’s a list of winners and losers: https://www.bloomberg.com/news/articles/2017-11-08/the-house-tax-cut-who-gets-what
Meanwhile, Heather Long reports on washingtonpost.com that nine percent of middle-class tax filers (those earning between $48,600 and $86,100 would pay more in taxes next year, according to an analysis by the nonpartisan Tax Policy Center released Wednesday.
By 2027, 31 percent of middle-class filers would see tax hikes, the center said.
For more: https://www.washingtonpost.com/news/wonk/wp/2017/11/08/gop-bill-would-hike-taxes-on-31-percent-of-middle-class-americans-by-2027-study-finds/?utm_term=.73dfdcd1a79e
Senate Republicans are expected to unveil legislation on Thursday that would eliminate the ability of people to deduct state and local taxes but would stop short of fully repealing the estate tax, according to lobbyists and other people familiar with the bill, nytimes.com reported.
For more: https://mobile.nytimes.com/2017/11/08/us/politics/senate-republicans-will-diverge-from-house-in-sweeping-tax-rewrite.html?smid=fb-nytimes&smtyp=cur&referer=http://m.facebook.com
Photo: Pinterest.
Nice try.
Two-thirds of the $1.5 trillion in tax cuts proposed by House Republicans would go to business, one-third to individuals, Peter Coy reports on bloomberg.com.
Hedge funds would keep a key tax break. Home buyers would lose one. But it’s just a bill, he wrote.
Even if the current plan passes the House, it can’t survive intact in the Senate, which has stricter rules against adding to long-term deficits, he added.
Here’s a list of winners and losers: https://www.bloomberg.com/news/articles/2017-11-08/the-house-tax-cut-who-gets-what
Tax increases
Meanwhile, Heather Long reports on washingtonpost.com that nine percent of middle-class tax filers (those earning between $48,600 and $86,100 would pay more in taxes next year, according to an analysis by the nonpartisan Tax Policy Center released Wednesday.
By 2027, 31 percent of middle-class filers would see tax hikes, the center said.
Senate tax plan
Senate Republicans are expected to unveil legislation on Thursday that would eliminate the ability of people to deduct state and local taxes but would stop short of fully repealing the estate tax, according to lobbyists and other people familiar with the bill, nytimes.com reported.
For more: https://mobile.nytimes.com/2017/11/08/us/politics/senate-republicans-will-diverge-from-house-in-sweeping-tax-rewrite.html?smid=fb-nytimes&smtyp=cur&referer=http://m.facebook.com
Photo: Pinterest.
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The Latest Darien Real Estate Update.
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