The Georgia Senate has approved a bill that collectively would cut income taxes for individuals by more than $600 million over the next five years.
House Bill 593, dubbed the Tax Relief Act of 2021, raises the standard deduction on state income tax returns for a single taxpayer by $800 to $5,400 and by $1,100 to $7,100 for a married couple filing a joint return, starting in the 2022 tax year. Read More
by Robert Romano Only 40 percent of respondents in a recent New York Times-SurveyMonkey online poll thought they had received tax cuts under the 2017 tax cut legislation that was signed into law by President Donald Trump. A separate NBC-Wall Street Journal poll found 28 percent believe they will… Read More
by Julia Cohen House Republicans announced they are working on a second iteration of tax cuts on Tuesday, the same day the Congressional Progressive Caucus announced a proposal for raising taxes. “The tax cuts have been working incredibly well to get this economy moving, to create more jobs, to… Read More
House lawmakers passed the most extensive rewrite of the tax code in 30 years Tuesday, moving one step closer to scoring the first major legislative victory of the 115th Congress. The House passed The Tax Cuts and Jobs Act 227-203 Tuesday. 12 Republicans and all Democrats voted against the bill.… Read More