Trump, tax
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Trump, J.D. Vance and Pennsylvania
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Under the final iteration, the so-called Trump accounts are custodial individual retirement accounts for kids, with special rules until the year the child turns 18. For the next few years, they come with $1,000 of seed money from the Treasury Department for newborns. That money would grow tax-deferred, with income taxes due upon withdrawal.
Key provisions in the president’s signature legislation will take effect at different times over several years.
Two Republican senators and a broad coalition of funders made a big difference for private foundations during negotiations over President Donald Trump’s tax and spending legislation.
The president’s signature tax law allows a long-standing business deduction for the cost of food provided to employees to expire.
Donald Trump’s Social Security chief is under fire for spreading propaganda and fueling confusion after his agency said the president had ended taxation on Social Security for millions of Americans. Trump and the White House have repeatedly touted that Republicans’ “Big,
"I think it's going to be a great incentive," Trump said when asked about a bill that could eliminate a tax on primary home sales.
Harvard University warned that the combined cost of federal actions against the school, including a recently passed tax increase on its endowment, could approach $1 billion annually.
Senior citizens are getting a tax break in President Donald Trump’s sweeping tax and spending cuts package, but it’s not the one the president promised on the campaign trail last year.