#tax-policy

#tax-policy

The One Big Beautiful Bill Act will radically transform the way Americans file their taxes starting in the 2025 tax year, introducing expanded deductions and new benefits.

The passage of the social housing tax in Seattle comes as a surprise victory against strong opposition from corporate interests, showcasing the power of grassroots movements.

The effort to oppose a 600% tax increase on private foundation endowments was driven by two Republican senators and a broad bipartisan coalition, preserving low tax rates for philanthropy.

Transport Secretary Heidi Alexander claimed that individuals on 'modest' incomes would be shielded from tax increases in upcoming budgets, causing confusion over definitions.

Frustrated by their inability to gain supermajority voter support for tax hikes, government officials and special interests are turning to a new court-created loophole: voter initiatives that require only a simple majority to pass.

"We've been through some good times together, and now we face some challenges," Levine Cava said in a morning press conference at County Hall in downtown Miami.

"It can help Americans build financial security earlier and more confidently and, over time, ease the pressure on both the safety net and the federal budget," Russell Investments Chairman and CEO Zach Buchwald wrote in the Washington Post on Thursday.

Harlow Council's leadership states that their transformation plan is yielding better value and improved services while maintaining a budget surplus without raising council tax. The Building Harlow's Future plan focuses on efficiency and addressing residents' priorities, showing rising performance across nearly all service areas.

Politicians love to talk about supporting entrepreneurs, but the numbers tell a different story. Personal tax thresholds are frozen, Corporation Tax has risen, and accessing R&D relief - which is supposed to incentivise innovation - has never been more complex or uncertain.

The "No Tax on Tips" provision allows eligible tipped workers to deduct up to $25,000 of reported tip income from their federal income taxes for the 2025 tax year.

Luxury properties in exclusive London locations like Chester Square and Montpelier Square are struggling to sell, with many homes sitting unsold for months or years despite price cuts.

The carried-interest deduction allowed hedge and private-equity fund managers to classify earnings as investment gains taxed at a lower rate, reducing overall tax liabilities. Eliminating it could raise revenue and enhance Trump's populist image.

Rachel Reeves stated that it is impossible to rule out tax rises in the upcoming autumn budget, acknowledging the costs associated with the welfare bill's modifications.

"We're hearing that the House has passed the megabill after it got through the Republican Senate. Now it's on its way to President Trump's desk, and he's going to sign it. When he does, he will create some of the biggest tax breaks for billionaires in history, even more wealth to the wealthiest Americans."

"We continue to be the only country on Earth where tips replace wages completely. In most of the world, the idea of tips being a replacement for wages is absurd."

Rangel was a longtime U.S. congressman from Harlem and the chair of the Ways and Means Committee, considered the most important committee in the House.

"The democratic socialist still has to win the multi-party race in November, but already rumor has it that tax increases he wants to impose on wealthy New Yorkers will result in an exodus of Wall Street executives and some corporate headquarters."

Trump stated that Canada’s digital services tax is a direct attack on the US, leading to an immediate end to trade talks and upcoming tariffs.

"I don't think we have a project we're focused on as much as a responsibility to the community that we're focused on, and that's figuring out ways to bring jobs," said Davis.