Taxation
Rand Paul Blocks Quick Passage of Ukraine Aid Bill
WASHINGTON—The Democratic and Republican leaders of the Senate tried to fast track a nearly $40 billion U.S. aid package to help Ukraine in its fight against Russia, only to be blocked by Republican Sen. Rand Paul of Kentucky, pushing passage of the bill into next week. Senate Majority Leader Chuck Schumer (D., N.Y.) and Minority …
U.S. Economy Grew Robustly in First Quarter
The U.S. economy expanded rapidly in the first quarter, growing at a 6.4% annual rate and extending what economists project will be a robust, consumer-led recovery from the pandemic this year. The jump in U.S. gross domestic product in the first three months of the year, reported by the Commerce Department on Thursday, put the …
An Unexpected Unemployment Tax Break: What to Know
In the massive stimulus package enacted earlier this month, lawmakers inserted a last-minute exemption for many taxpayers with up to $10,200 of unemployment payments for 2020. Normally this income is fully taxable on federal returns, so the change could save many filers $1,000 or more. The brain twister, for the agency and affected taxpayers, is …
U.S. mining lobby in push to preserve tax break repealed by Democrats
WASHINGTON (Reuters) – The U.S. mining industry is spearheading a lobbying effort to protect a $160 billion pandemic tax break after congressional Democrats largely repealed the provisions in their recent stimulus bill, according to emails and a letter seen by Reuters. FILE PHOTO: Chairman Chuck Grassley, (R-IA), holds up a gavel during a Senate Finance …
Millions Are Suddenly Working From Home. Can They Claim a Tax Break?
If you’re one of millions of Americans who are now working from home instead of the office because of the coronavirus pandemic, count yourself lucky: you aren’t sick and you have a job. Still, both you and your employer may be wondering whether your remote work qualifies for any tax breaks. Have you bought a …
Government to take ‘technology over taxation’ approach to climate change | Environment
Scott Morrison has described a report he may adopt a technology investment target to avoid signing up to a commitment of zero greenhouse gas emissions by 2050 as speculation, but confirmed his government will take a “technology over taxation” approach to climate change. On Tuesday, Morrison told reporters in Melbourne the report in the Australian …
China says 1,716 health workers infected by coronavirus
FILE PHOTO: Medical workers in protective suits work inside an isolated section at a community health service center, which has received patients with mild symptoms caused by the novel coronavirus and suspected patients of the virus, in Qingshan district of Wuhan, Hubei province, China February 8, 2020. China Daily via REUTERS BEIJING (Reuters) – China …
More Uninsured People, Faster Growth in Health-Care Spending Due to ACA Tax, Report Says
More Americans are going without health coverage and the pace of spending on health care nationally is rising in part because of an Affordable Care Act tax on insurers, Trump administration officials said Thursday. A federal report from actuaries at the Centers for Medicare and Medicaid Services revealed trends that are likely to further fuel …
For Landlords, a New Tax Break Comes With Strings Attached
Rental real estate is renowned for its many tax breaks, and the 2017 tax overhaul added a new one. Landlords who want to claim it for 2019 should be planning now, because they may need to send 1099 forms early next year. The benefit is the so-called 199A deduction of 20%. It applies to business …
In swipe at Trump, China tells U.N. tariffs could plunge world into recession
UNITED NATIONS (Reuters) – The Chinese government’s top diplomat said on Friday that tariffs and trade disputes could plunge the world into recession and Beijing was committed to resolving them in a “calm, rational and cooperative manner.” Chinese Foreign Minister Wang Yi addresses the 74th session of the United Nations General Assembly at U.N. headquarters …
