Trump, J.D. Vance and Tax Break
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Trump, Republicans and tax cut
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Key provisions in the president’s signature legislation will take effect at different times over several years.
The move reveals both the power of philanthropic groups to sway legislators and a split in the administration’s coalition.
The agency told millions that the president’s bill eliminates taxes on Social Security, which is not the case.
Under the final iteration, the so-called Trump accounts are custodial individual retirement accounts for kids, with special rules until the year the child turns 18. For the next few years, they come with $1,000 of seed money from the Treasury Department for newborns. That money would grow tax-deferred, with income taxes due upon withdrawal.
Trump's signature tax law allows a long-standing business deduction for the cost of food provided to employees to expire, imperiling a workplace perk popularized during Silicon Valley’s dot-com boom that is now an emblem of modern office culture.
For the last decade, these dual programs run by the nonprofit Children’s Aid have taught families how to eat healthier on a budget. But now, under President Donald Trump’s new spending bill, the long-standing initiatives and others like them across the state will shut down by October, unless they find a way to plug the funding gap.
Arkansans are seeing how President Donald Trump's new 17% tariff on Mexican tomatoes is affecting people here in the Natural State.
President Donald Trump’s sweeping $3.4 trillion fiscal package is already creating opportunities for segments of the energy and climate industries that had fallen out of favor, struggled to grow or haven’t managed to break through.
(Reuters) -Clean energy companies are asking California leaders for help getting their projects going before changes to federal subsidies in President Donald Trump's sweeping new tax and spending law make them more expensive and difficult to build.