Taxes

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Even Sky-High Income Tax Rates Won’t Stop the Relentless Rise of the Richest

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Will Donald Trump’s “One Big Beautiful Bill,” as critics contend, be a massive giveaway to the rich? Absolutely, when you tally it up. Yet the bill’s provisions, while devastating to the nation’s poorest, represent only modest gains for the majority of affluent families. Consider the merely rich—the top-earning 10 percent of households. The Congressional Budget […]

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Sen. Elizabeth Warren Presses Oil Firms on Lobbying for a Huge Tax Break in the Budget Bill

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This story was originally published by the Guardian and is reproduced here as part of the Climate Desk collaboration. Democratic lawmakers led by the Massachusetts senator Elizabeth Warren are pressing two energy companies about their efforts to “win a $1.1 billion tax loophole” in Donald Trump’s so-called One Big Beautiful Bill. The proposed exemption, which Senate Republicans inserted into their version of […]

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Most People Support Taxing Carbon Even If It Costs Them, Global Survey Shows

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This story was originally published by Grist and is reproduced here as part of the Climate Desk collaboration. People in affluent countries around the world are willing to tax themselves to address climate change and ease poverty. That idea defies conventional political wisdom, which typically holds that people hate taxes. It emerged in a survey of 40,680 people in […]

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Here’s One Biden Climate Provision Republicans Are Unlikely to Kill

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This story was originally published by Grist and is reproduced here as part of the Climate Desk collaboration. Dig down about a mile or two in parts of the United States and you’ll start to see the remains of an ancient ocean. The shells of long dead sea creatures are compressed into white limestone, surrounding brine aquifers with a […]

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Trump’s “Big Beautiful Bill” Redistributes Wealth From the Poor to the Rich

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The CBO has estimated at least 15 million people would lose health care coverage due to the bill’s cuts to Medicaid.

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The U.S. Just Lost Its Perfect Credit Rating Thanks to Trump’s Tax Cuts

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On Friday evening, Moody’s downgraded the United States’ overall credit-rating—from the highest level of AAA—to one notch lower, AA1, based on years of rising debt and Donald Trump’s tax cut plan, which the non-partisan Committee for a Responsible Budget has calculated could add $2.5 trillion more in debt. The rating is important because it is […]

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Measure in GOP Bill Incentivizes School Privatization Funders With Tax Breaks

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It allows individuals to avoid paying capital gains tax as a reward for funneling public funds into private schools.

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Activists Are Fighting Tax Subsidies for Airline Running ICE Deportation Flights

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Connecticut activists are making big gains in their campaign against the airlines ICE is using to abduct people.

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Republicans Slide “Nonprofit Killer” Law Into Tax Bill

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The “nonprofit killer” is back—this time tucked into congressional Republicans’ aggressive new tax proposal, which they’ve dubbed the “One, Big, Beautiful Bill.” For those who forgot: In November, the House of Representatives passed HR 9495, or the “Stop Terror Financing and Tax Penalties on American Hostages Act,” which would give the Secretary of the Treasury […]

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