A new 50-state analysis of the tax reform bill passed last week by the Senate Finance Committee finds the plan would increase taxes on at least 29 percent of taxpayers by 2027 and cause the populations of 19 states to pay more in federal taxes than they do today.
A host of other factors has joined the size of a practice’s book of business.
The White House wouldn’t oppose removing from the Senate tax plan a controversial provision to repeal the individual health-care mandate of the Affordable Care Act, budget director Mick Mulvaney said, a move that could help secure the vote of key Republicans.
As the Republican-controlled Congress tries to push through tax reform this year, one group of Americans may question why it’s coming up a scoop short.
The Republican tax-overhaul effort is in for a marathon debate on the Senate floor at the end of this month, with dozens of doomed Democratic amendments. But the real action will be elsewhere, behind closed doors.
Senator Susan Collins said the Republican tax plan passed by the Senate Finance Committee on Thursday “needs work.”
Vice President Mike Pence said Republicans would repeal the estate tax—a step that the Senate GOP tax plan doesn’t currently plan to take.
The Senate tax plan encountered its first outright Republican opposition this week, from a senator whose concerns might foreshadow the biggest business challenge ahead for the proposal.
The Republican tax plan isn’t designed to help rich New Yorkers, but Wall Street can certainly look forward to some advantages, said Treasury Secretary Steven Mnuchin.
The Accountants Confidence Index dipped slightly for the month.
