Items Tagged with 'Tax cut'


  • Four states sue federal government over GOP property tax law changes

    New York, Connecticut, Maryland, New Jersey sue over SALT deduction reduction
    Following through on a threat made in January, the states of New York, Connecticut, Maryland, and New Jersey are suing the federal government over the Republican tax reform bill, which President Donald Trump signed into law late last year. At issue is the Tax Cuts and Jobs Act’s elimination of certain state and local tax deductions, which the states claim are disproportionately harmful to their residents.
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  • Trump officially signs tax reform bill into law

    White House to celebrate in 2018
    Friday morning, President Donald Trump announced he would sign the sweeping tax reform bill into law, marking the first major legislative victory in his term. The signing was held in private in the Oval Office, and the White House event to celebrate the new law will be held in the new year on January 3, 2018.
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  • $15,000 Home Buyer Credit Joins Senate Stimulus Bill

    The Senate on Wednesday passed a home buyer tax credit provision in its version of the financial stimulus bill. The provision will allow a tax credit of 10 percent of the value of a new or existing residence -- up to $15,000 -- an increase from the current $7,500 tax break for new home purchases. The provision will cost $18.5 billion and brings the total price tag of the bill to over more than $900 billion.
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  • Eyes on Senate; Industry Group Pleads for Home Buyer Stimulus

    With the $800 billion-plus economic stimulus package trickling through the House and Senate, at least one industry group is pleading the case for a substantial home buyer stimulus credit to spark demand for and reduce supply of housing amid heightened economic recession. "What we are seeing is some of the worst housing news that we've seen since the Great Depression," said National Association of Home Builders (NAHB) chief economist David Crowe at a media conference Wednesday. "We continue to see sales fall, starts fall, prices fall and general economic conditions fall."
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  • Report: Recession Will End in Second Half of 2009

    What is shaping up as the deepest and longest recession since the 1930s will end in the second half of 2009, Wells Fargo's senior economists predicted during the company's annual economic forecast teleconference Thursday -- and the housing sector may blaze the way, according to Dr. Scott Anderson, senior economist for Wells Fargo & Company [stock WFC][/stock].
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