Latest news with #2017TaxLaw
Wall Street Journal
10 hours ago
- Business
- Wall Street Journal
Trump Bill Would Raise Estate Tax Exemption to $15 Million and Make It Permanent
The big tax-and-spending bill in Congress would end a race against time by the wealthy to avoid estate taxes. The bill passed in the House last month and the Senate Finance Committee proposal released Monday both would permanently allow people to hand their heirs $15 million without paying a dime. Under the current rules laid out in the 2017 tax law, today's nearly $14 million exemption would expire at year-end and drop by about half.
Washington Post
09-06-2025
- Business
- Washington Post
Trump tax bill reveals striking shift in GOP's focus
The sweeping tax legislation Republicans in Congress are trying to send to President Donald Trump to sign into law underscores a striking evolution in the party's economic agenda: away from tax policy that prioritizes economic growth and toward populist giveaways inspired by Trump's campaign promises. House Republicans last month approved a $2.4 trillion proposal that included attention-grabbing provisions such as exempting tips and overtime pay from income taxes and a new deduction for seniors. The bill's cornerstone, making up the vast majority of its price tag, is the permanent extension of the individual cuts from the 2017 GOP tax law, which lowered rates across income brackets.
