Free Republic

House Republicans are planning to include several of President Trump’s campaign promises in the first draft of the bill, which they hope to release soon.It was easy to miss, but last weekend President Trump floated a fundamental rewrite of the American tax code. In a social media post, and again in remarks to reporters, Mr. Trump suggested the United States could stop taxing income under $200,000 and instead rely on revenue from his extensive tariffs. “It’ll take a little while before we do that, but we’re going to be cutting taxes, and it’s possible we’ll do a complete tax cut,”...

The Republican Party embarked this week on a haphazard experiment in economic policymaking, wagering that the United States can weather a monumental tax increase in the form of broad tariffs on imported goods as long as Congress also cuts taxes on income. It’s a mash-up that many investors, economists and even some G.O.P. lawmakers expect to be a failure. “I always think that with gambling, at least you have a chance of winning. This is worse than that,” Douglas Holtz-Eakin, a conservative economist who worked for former President George W. Bush, said. “This is betting with the mafia. You’re going...

The Internal Revenue Service is preparing to give a team member working with Elon Musk’s so-called Department of Government Efficiency access to sensitive taxpayer data, people familiar with the matter said. The systems at the I.R.S. contain the private financial data tied to millions of Americans, including their tax returns, Social Security numbers, addresses, banking details and employment information. “Waste, fraud and abuse have been deeply entrenched in our broken system for far too long,” Harrison Fields, a White House spokesman, said. “It takes direct access to the system to identify and fix it.” Mr. Fields added: “DOGE will continue...

Treasury Secretary Scott Bessent gave representatives of the so-called Department of Government Efficiency full access to the federal payment system late on Friday, according to three people familiar with the change, handing Elon Musk and the team he is leading a powerful tool to monitor and potentially limit government spending. The new authority follows a standoff this week with a top Treasury official who had resisted allowing Mr. Musk’s lieutenants into the department’s payment system, which sends out money on behalf of the entire federal government. The official, a career civil servant named David Lebryk, was put on leave and...

Former President Donald J. Trump has spent much of the presidential campaign brainstorming new, and sometimes untested, ways to cut taxes. In the election’s final stretch, he raised the possibility of going even further: eliminating income taxes entirely. During a Fox News segment on Monday, Mr. Trump took questions at a barbershop in the Bronx. When asked if the United States could potentially end all federal taxation, Mr. Trump said the country could return to the economic policies in the late 19th century, when there was no federal income tax. “It had all tariffs — it didn’t have an income...

At the start of the summer, when former President Donald J. Trump visited Republicans on Capitol Hill, he hinted at a vision for a vastly different tax system than what the United States has employed for decades. Rather than taxing Americans on the money they earn at their jobs and on their investments, Mr. Trump instead suggested imposing a broad tax on the goods that Americans buy from abroad. In his view, such tariffs could replace income taxes as the main source of federal revenue. The idea, briefly floated behind closed doors, seemed to fizzle, and Mr. Trump did not...

WASHINGTON—Democrats on Capitol Hill are pushing for the White House to propose more generous and long-lasting jobless benefits on a permanent basis as part of the antipoverty package President Biden is expected to roll out next week. In a letter sent to the White House Friday, nearly 40 Democrats said President Biden should propose implementing a series of new federal standards of unemployment insurance programs, which are largely run by states. They proposed increasing the amount of jobless payments, extending the duration of the weekly benefit, expanding the pool of eligible workers, and implementing a system that would more closely...

WASHINGTON—When revelations about President Trump’s efforts to pressure Ukraine first started dribbling into the public in late September and early October, Republicans were caught off guard. Some members of the GOP criticized Mr. Trump’s request for Ukraine to open investigations that benefited him politically, while others sought to avoid the topic altogether. As many as 20 House Republicans initially were open to supporting Mr. Trump’s impeachment, according to Rep. Pete King (R., N.Y.), a retiring member from a competitive district who quickly made up his mind that Mr. Trump’s conduct wasn’t impeachable.