Latest news with #millionaireTax
Washington Post
2 days ago
- Business
- Washington Post
Tracking Trump: Republicans reject millionaire tax; Elon Musk's rift with Trump; threats to research publishing; and more
Republicans rejected a 'millionaire tax' as part of President Donald Trump's legislation. Trump officials might ban scientists from publishing in top medical journals. Elon Musk said U.S. DOGE Service has become the government's 'whipping boy.' Trump said Vladimir Putin is 'playing with fire' in his war against Ukraine. The administration wants to upend a $37 billion affirmative action program.
Fox News
12-05-2025
- Business
- Fox News
No millionaire tax hike in Trump's 'big, beautiful bill'
House Republicans have seemingly dropped plans for a new millionaire's tax hike to pay for other priorities in President Donald Trump's "big, beautiful bill." The Ways & Means Committee, the House's tax-writing panel, released nearly 400 pages of legislation on Monday, setting the stage for permanently extending Trump's 2017 Tax Cuts and Jobs Act (TCJA), as well as a host of other new Trump tax priorities. That includes no taxes on tipped and overtime wages, both of which are accomplished via new tax deductions. For Trump's promise to cut taxes on seniors' Social Security, the legislation temporarily increases the standard tax deduction that seniors are allowed to take, affecting the end of last year through the beginning of 2029. This story is breaking and will be updated…
