As millions of Americans continue to feel the impact of the Trump-Republican tax scheme, it will become impossible to defend.
Trump sold his tax cuts as a tax cut for working families. But now, reality has struck and not only will millions not get a refund this year, but some might have to pay the IRS.
The Republican tax cut, which involved the biggest changes to the tax code in 30 years, might have put more money in people's paycheck due to withholding table changes, has come home to roost and it's not pretty.
One important element of the Trump-Republican tax scheme is that those who live in the bluest states will be harmed the most.
Trump's speech was light on new initiatives to further stoke growth in an economy seen as losing momentum as it began 2019. A Reuters poll last month forecast economic growth would slow to 2.1 percent this year after likely averaging around 3 percent in 2018.
WASHINGTON (Reuters) – U.S. economic growth will slow this year to 2.3 percent from 3.1 percent in 2018, as the stimulative effects of President Donald Trump’s tax cuts wane and the federal budget deficit climbs to nearly $900 billion, congressional researchers said on Monday.
“The President’s shutdown inflicted needless pain and chaos in the lives of millions of Americans, and stole billions of dollars from the economy," Speaker Pelosi said in a statement sent to PoliticusUSA.
Even though the government shutdown is officially over – for now – the long-lasting effects to the economy aren't going anywhere.
The soft job growth numbers released today suggest an economy that is slowing down and could be in a recession when Trump runs for reelection in 2020.
While Trump is still living off successes of the Obama administration in many ways, his economic doctrine is finally starting to fear their ugly head.
By Karen Pierog
CHICAGO (Reuters) – The Chicago City Council on Wednesday gave overwhelming approval to the final budget proposed by Mayor Rahm Emanuel, who leaves office next year, and who said he will address looming pension funding challenges in December.
The U.S. economy slowed less than expected in the third quarter as a tariff-related drop in soybean exports was partially offset by the strongest consumer spending in nearly four years, keeping growth on track to hit the Trump administration's 3 percent target this year.
While Donald Trump was hosting a game show on NBC, then-President Barack Obama was saving the U.S. economy. Now he's trying to claim credit for it.
The outlook for global growth in 2019 has dimmed for the first time, according to Reuters polls of economists who said the U.S.-China trade war and tightening financial conditions would trigger the next downturn.
The U.S. government closed the 2018 fiscal year $779 billion in the red, its highest deficit in six years, as Republican-led tax cuts pinched revenues and expenses rose on a growing national debt, according to data released on Monday by the Treasury Department.
South Carolina politicians, including Republican Senator Lindsey Graham, have defended the MOX plant, saying it was about 70 percent complete, would help keep plutonium out of the hands of militants, and provide up to 600 direct jobs.
Sears Holdings Corp is planning to close up to 150 of its department and discount stores and keep at least another 300 open as part of a plan to restructure under U.S. bankruptcy protection, people familiar with the matter said Friday.
Trump used to brag and take credit for the stock market daily, but the president has gone quiet as the market is dropping and his trade war is one of the reasons why.
ERIE, Pa. (Reuters) – U.S. President Donald Trump said Wednesday’s stock market selloff was in fact a long awaited “correction,” and that the Federal Reserve, which has been raising U.S. interest rates, has gone “crazy.”
Steel and aluminum tariffs imposed by the Trump administration has cost Ford Motor Co about $1 billion, its chief executive officer said on Wednesday.
Walmart Inc said that it may hike prices of products if the Trump administration imposes a tariff on Chinese imports, according to a letter the company wrote to U.S. Trade Representative Robert Lighthizer two weeks ago and seen by Reuters on Thursday.