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President Trump again brings up a "phase two" of tax cuts. The GOP law passed in December permanently chops taxes for corporations and temporarily reduces the tax rate for most individuals. Trump wants a 'phase two' of tax cuts Trump wants a 'phase two' of tax cuts 18 Hours Ago | 00:44 President Donald Trump said again Monday he wants a "phase two" of tax cuts on top of the law Republicans passed in December. Speaking as the World Series champion Houston Astros visited the White House, Trump asked Rep. Kevin Brady, R-Texas, whether he planned to cut taxes further....

Nancy Pelosi hasn't exactly been in clover since she disdainfully sniffed that $1,000 worker bonuses were just " crumbs " following the Republican passage of tax cuts. She was so against those that she screeched that " people are going to die !" if the tax cuts dared pass in Congress. After the tax cuts did, just as in Aesop's tale of the fox and the grapes, she called the resulting unexpected bonuses "crumbs." Apparently, the fallout has been so bad on that she's backtracked on her remarks, putting out this tweet, which was noticed by Fox News: Certainly we...

Employees complain of ‘jelly of the month club’ profit-sharing. Be extra nice to that United Airlines employee the next time you plan to “Fly the Friendly Skies.” There’s a good chance they’re smiling on the outside, and fuming on the inside after a memo leaked late last week from the airline’s president, Scott Kirby, said the company will be canceling its quarterly bonus program, and replacing it with a drawing for prizes.

HALF OF AMERICANS AGREE with House Minority Leader Nancy Pelosi's comments that corporations are giving their workers "crumbs" as a result of the tax bill, according to a poll released Friday by a group aligned with President Donald Trump. America First Priorities, found 49 percent of respondents agreed with the California Democrat, whose remarks pointed out the disparity in the windfall companies received in December with the passage of a major tax cut compared to the comparatively small bonuses they're handing out to their employees. "In terms of the bonus that corporate America received versus the crumbs that they are...

It turns out it’s tough to give teachers raises when you slash taxes for a decade. Striking teachers and other public employees in West Virginia have shut down schools across the state for more than a week, flooding the capitol in Charleston each day to rebuke their lawmakers. The workers are demanding significant raises to their stagnant pay and a clear plan to curb rising premiums in the state employee health care program.

How out of touch is the Democratic Party? This out of touch: The Washington Post reports that Democrats expected the Trump tax cut to be unpopular and are surprised to find that voters like seeing more money in their pay checks. Post reporter Erica Warner writes: Democrats predicted a political backlash for ­Republicans in December when the GOP pushed through a deeply unpopular tax cut that added more than $1 trillion to the federal deficit and disproportionately helped the wealthy. But at the outset of the 2018 campaign season, Democrats’ early optimism appears less well founded here [in Indiana], where...

Starting in late 2017, Boeing executives discussed plans to conceal employee bonuses or cancel them altogether in order to keep President Trump from getting credit, following the passage of the Republican tax-reform bill. On a series of conference calls led by Boeing’s Senior Vice President of Communications Phil Musser, Musser proposed and lobbied for canceling bonuses out of fear that the company may contribute to President Trump’s rising approval rating. Before Musser worked as a high level Boeing’s communications staffer in Washington, his employment history included public and media relations work for Mitt Romney’s 2012 Presidential Campaign and The Freedom...

HARRISONBURG, Va. (WHSV) — Employees of F&M Bank were surprised on Tuesday to learn they would receive a bonus, which the institution attributes to additional earnings expected as a result of the GOP tax plan. "This is an opportunity we haven't seen during my career, as far as cuts in corporate tax rates," said Executive Vice President Neil Hayslett. "Rather than just banking all that, so to speak, we wanted to share it with the employees." The GOP tax plan cut the corporate tax rate from 35 percent to 21 percent. Those who work more than 30 hours a week...

(Image via J.M. Smucker Company) The J.R. Smucker company announced last week that 5000 employees will be receiving $1000 bonuses as a result of the Republican tax plan. They also plan to add $20 million to the employee pension program and donate an additional $1 million to charity. "We had a strong third quarter, with sales growth for key brands in every business and strong earnings per share growth fueled by the benefits of U.S. income tax reform and ongoing cost discipline," said Mark Smucker, chief executive officer, in a press release. "These results reflect our commitment to delivering...

The Treasury Department and IRS will seek to prevent hedge funds from exploiting the new tax law to cut their taxes through carried interest, Steven Mnuchin said Wednesday in congressional testimony. Mnuchin was responding to the news reported earlier in the morning by Bloomberg that hedge funds are setting up Delaware LLCs in large numbers to try to avoid the law's limitation on carried interest.

A Republican lawmaker is set to unveil legislation that would make most bonuses given out as a result of President Trump's tax reform plan tax-free -- and took a jab at House Minority Leader Nancy Pelosi with the bill's name. Rep. Todd Rokita, R-Ind., has dubbed his bill the "Creating Relief and Useful Middle-Class Benefits and Savings" -- or "CRUMBS" Act. Pelosi, D-Calif., famously referred to the bonuses as "crumbs" in criticizing the tax plan last month. "Americans are receiving thousands of dollars in bonuses and more money in their paychecks thanks to President Trump's tax reform, but out-of-touch Democratic...

Congressman Todd Rokita, R-Ind., will introduce legislation that helps Americans keep more of the bonuses they receive by making them tax-free. The legislation, “Creating Relief and Useful Middle-Class Benefits and Savings”—known as the CRUMBS Act—also takes a swipe at House Minority Leader Nancy Pelosi, who has repeatedly downplayed the significance of the bonuses some Americans are receiving thanks to the GOP tax plan by referring to them as “crumbs.”“In terms of the bonus that corporate America received versus the crumbs that they are giving to workers to kind of put the schmooze on — it’s so pathetic,” she told reporters last...

Tax season is in full swing across California, as millions collect documents, download software and hassle their accountants. But for millions of Californians, tax time provides a vital financial lifeline thanks to one of the most successful, but underused, anti-poverty programs – the federal Earned Income Tax Credit.

Wait, weren’t the tax cuts supposed to bankrupt the country to benefit the rich? It almost looks like the tax cuts — which took effect in January — are paying for themselves. That wouldn’t be fair, either. As the CBO notes, the new payroll withholding scheduled hadn’t fully taken effect in January; companies don’t have to update their employee tax withholdings until the middle of this month. When that happens, monthly revenues from individual income taxes will likely slip. But the latest CBO report does show how a growing economy can make up a lot of the difference between the...

Maryland will sue the Trump administration for capping state and local tax (SALT) deductions in its new federal tax law, the state’s attorney general said Thursday. The Tax Cuts and Jobs Act signed by President Trump last year contains a provision capping SALT deductions at $10,000, and Maryland Attorney General Brian Frosh said residents across the heavily-taxed state stand to take a hit as a result. “By eliminating the SALT deductions, Trump’s tax bill will jack up taxes for more than half a million Marylanders,” Mr. Frosh, a Democrat, said in a statement announcing his intent to sue the Trump...

The liberal media are rushing to see whether President Trump will accept blame for the stock drop in the same way he took credit for its rise. But CNN came up with a new twist on the blame-Trump game this morning, suggesting that the Trump taxs cuts are the culprit. Alisyn Camerota teed it up, suggesting, in respect of the stock drop, that the cuts were “at work here.” John Avlon was only too happy to run with the ball, saying it was indeed possible that: “those tax cuts created the conditions for this [stock drop.]” Get the rest of...

WASHINGTON — Speaker Paul D. Ryan faced a backlash on Saturday after he pointed to a secretary’s $1.50 weekly increase in take-home pay as a sign of the Republican tax plan’s success.“A secretary at a public high school in Lancaster, Pennsylvania, said she was pleasantly surprised her pay went up $1.50 a week ... she said [that] will more than cover her Costco membership for the year,” Mr. Ryan posted on Twitter, sharing an Associated Press report about paycheck increases under the $1.5 trillion tax overhaul.The article describes a high school secretary, Julia Ketchum, as “pleasantly surprised” that her pay...

Oh irony of ironies. How beautiful you can be! Less than a week after Univision smeared the Trump tax cuts, the owner of that broadcasting network, Haim Saban, has announced that he will be giving $1000 bonuses to his employees due to those same tax cuts. In fact, as we shall see, Saban very specifically credited those same tax cuts as the reason for the bonuses. To get a full appreciation of the irony involved let us first look at what a Univision anchor said about the Trump tax cuts as reported by the MRC Latino Staff on January 27...

Your Paycheck Could Increase Very Soon -- Here’s How Much You Can Expect New IRS federal tax-withholding guidelines should give millions of Americans higher paychecks in 2018. Matthew Frankel Jan 12, 2018 The Treasury Department recently released new withholding tables based on the recently passed tax-reform bill. These tell employers how much to withhold from their employees' paychecks, and 90% of workers should see an increase when the new guidelines are implemented. Here's what this means, when you should expect the change to affect your paycheck, and how much of an increase you should expect. New IRS federal tax-withholding guidelines...

Well, when you’re backed into a corner, there really is nowhere to go. That’s where the Democrats are on this tax bill. Even after they shut down the government over illegal aliens, companies continued to signal their intention to dole out bonuses to their workers. In all, over 250 companies have given out bonuses to over three million workers. Bonuses have ranged from $1,000 to $3,000 depending on the company. The tax plan has become more popular as well. So, what do Democrats do now? Well, just marginalize $1,000+ bonuses as “crumbs.”Rep. Nancy Pelosi (D-CA) has done it, with Rep....