President’s Tax Plan Changes Back at Square One

shutterstock_630783017

 

Taxes, taxes, taxes! It was arguably the number one issue during the recent presidential election and President Trump made it very clear that he planned to make some major changes to our country’s tax code. With the republican-led House and Senate in place, it seemed like it would just be a matter of time before major changes occurred.

However, as with the new administration’s efforts to change the nation’s healthcare plan, the president is finding tax reform to be anything but easy. In fact, according to recent reports, President Trump has now tossed out the tax reforms plans he campaigned for and is basically going back to square one.

As with most issues on Capitol Hill, the administration is finding it difficult to work with the many different parties involved, as well as finding common ground that appeases everyone, or even enough lawmakers in his own party. At this point, the president and his administration have not been able to find much they can agree on with other lawmakers in Washington, which means any major reforms are still on hold.

The new administration wants to cut taxes in an effort to improve the economy, especially in industrial locations and depressed rural pockets where many of his supporters live. However, those efforts have not amounted to any changes that everyone can agree upon at this point.

So, while everything from the payroll tax to corporate taxes could eventually be in play, at this point the stalemate in Washington Continues.

http://wtop.com/dc/2017/04/trump-taxes-president-scraps-tax-plan-timetable-threatened/

Posted in

Top 7 Traits of Successful Business Leaders

Top 7 Traits of Successful Business Leaders What does it take to become a successful leader in business? There are many traits that people associate with being a good business leader, but some are more important than others. Ultimately, if you want to end up being good at being in charge you will almost certainly…

Why More Indian Entrepreneurs Are Joining the Jet Set

Why More Indian Entrepreneurs Are Joining the Jet Set

Why More Indian Entrepreneurs Are Joining the Jet Set Although the exact numbers aren’t known, there are roughly 12,500 private business jet owners in the world, with the majority of these aircraft based in the United States. Clearly, that’s a very small percentage of the population. Of course, the percentage of people that can afford…

How the Wealthy Use Their Charitable Foundations for Good

How the Wealthy Use Their Charitable Foundations for Good

How the Wealthy Use Their Charitable Foundations for Good What do Bill Gates, Mark Zuckerberg, Paul Allen, Gordon Moore, and Michael Bloomberg have in common? Of course, they are all among the world’s wealthiest individuals, but these men also have something else in common. They’re all on the list of the world’s most generous people.…

most expensive car

Could This Become the World’s Most Expensive Car?

Could This Become the World’s Most Expensive Car? World’s Most Expensive Car Got your eyes on a sweet, new ride this year? The luxury car market is a hot market to be in so it’s a good place to put your money if you’re interested in a new set of wheels. You have plenty of…