- Affordable Care Act Repeal & Replacement Bill Passes in House
- The House of Representatives on May 4, 2017, by a vote of 217 to 213 down party lines, passed the GOP's proposed American Health Care Act (AHCA). The AHCA would repeal and replace several provisions of the Affordable Care Act (ACA). It next goes to the Senate, where it will no doubt receive some modifications even if it does pass. It needs only a simple majority to pass the Senate and cannot be filibustered.
- How Trump's Business-Tax Proposals Could Apply to You
- As part of his tax plan, Trump would cut the top rate on corporate taxable income from 35% to 15%. So as not to discriminate against small businesses, he would also cut the top tax rate on pass-through businesses from 39.6% (the current top marginal rate for individuals) to 15%.
- Deductions Eliminated Under Trump's Tax Reform Proposal
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One of President Trump’s key tax reforms is to eliminate all individual tax deductions except for those that incentivize home ownership, charitable contributions and retirement contributions. Although the administration’s one-page outline of the proposed tax reforms provides little detail, if all of the deductions except those noted are eliminated, the reform will impact both itemized deductions and income adjustments. This article will explore the deductions that the president’s proposal retains and those that it would eliminate, so you will be able to see how these changes could play out for your particular circumstances.
- President Trump's Tax Reform Summary Video
- At the end of April, the Trump administration provided an outline of proposed tax law changes, many of which mirror his previous tax policy proposals. Although this outline lacked significant detail, the video below highlights what the President proposes and how it might impact your tax liability.
- What Trump's Tax Proposals Mean To You And Your Business
- On April 26, 2017, with some fanfare, the Trump administration has provided information on proposed tax law changes, many of which mirror his previous tax policy statements. Although these proposals lack significant detail, here is what the president proposes and how it might impact your tax liability:
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