taxes

Graham Pitches Minimum Wage Hike as Part of Tax Overhaul Effort
Suggests raising the wage to $10.10 with business tax cuts

Sen. Lindsey Graham, R-S.C.,wants to cut taxes and raise the minimum wage. (Bill Clark/CQ Roll Call File Photo)

One Republican senator has an unusual idea for ensuring that the effort to overhaul the tax code benefits among the poorest working Americans.

Sen. Lindsey Graham plans to propose tying an increase in the federal minimum wage to the tax overhaul package.

Tax Bill Will Include 4th Tax Bracket on High-Income Earners, Ryan Says
Republicans’ tax framework had left the possibility open, but speaker suggests decision is to add one

Speaker Paul Ryan, R-Wis., said the tax overhaul bill  will include a fourth income tax bracket for high-income earners. (Tom Williams/CQ Roll Call file photo)

Speaker Paul D. Ryan said Friday that an upcoming tax overhaul bill will include a fourth income tax bracket for high-income earners, but he declined to reveal what the tax rate for that bracket will be. 

“The fourth bracket that the president and others are talking about that we’re going to do, we’re working on those numbers,” the Wisconsin Republican said on “CBS This Morning.” He added later in the interview that numbers “are going to be finalized in a matter of days.”

Trump Predicts Paul Will Vote for Tax Cut Bill
Senator and president trade tweets, with Paul endorsing 'boldest' cuts possible

President Trump says Sen. Rand Paul will vote for the coming tax overhaul bill despite being the only Republican who voted against a GOP budget resolution on Thursday night . (Bill Clark/CQ Roll Call file photo)

Updated at 8:42 a.m. | While celebrating Senate passage of a fiscal 2018 budget resolution, President Donald Trump on Friday predicted the GOP holdout on that bill will vote for a follow-on tax measure.

The Senate on Thursday night adopted a budget measure altered as the final vote approached to allow House Republicans to adopt it and avoid a conference committee. The move is an attempt to get a final package of tax cuts and code changes to Trump’s desk faster.

Don’t Hike Deficits With Tax Package, Ads Warn GOP Senators
Collins, Corker among lawmakers targeted

A new group launched ads this week urging Republicans in 20 states, including Sen. Susan Collins of Maine, not to raise deficits as they seek to revise the tax code. (Tom Williams/CQ Roll Call)

Texas billionaires John and Laura Arnold are bankrolling a new lobbying effort aimed at leading lawmakers away from the temptation of a tax overhaul that would increase deficits. 

Citizens for Responsible Tax Reform launched print advertisements targeting Republicans in 20 states Thursday, including Kentucky, the home of Senate Majority Leader Mitch McConnell and Sen. Rand Paul. The group plans additional television and online ad buys as Congress and the White House debate an overhaul of the nation’s tax code, spokesman Blake Gober said.

When the Budget Resolution Isn’t About the Budget
Senators acknowledge budget is all about taxes

Georgia GOP Sen. David Perdue is teaming up with a Democratic colleague, Sheldon Whitehouse of Rhode Island, on amendments to the budget resolution that declare the process is basically absurd. (Tom Williams/Roll Call File Photo)

When Sen. John McCain removed the suspense by announcing he would vote for the budget resolution moving through the Senate, the Arizona Republican made clear the ridiculousness of the exercise.

“At the end of the day, we all know that the Senate budget resolution will not impact final appropriations,” he said in a statement. “To do that, Congress and the White House must negotiate a budget agreement that will lift the caps on defense spending and enable us to adequately fund the military.”

Bipartisan Tax Bill More Durable, GOP Says After White House Meeting
Toomey sees overlap, but Democrats show little enthusiasm

Senate Majority Whip John Cornyn, seated left, South Dakota Sen. John Thune, seated center, and Pennsylvania Sen. Patrick J. Toomey, standing center, were among the Finance Committee members who met with President Donald Trump on Wednesday about a tax overhaul bill. Also pictured, Ohio Sen. Rob Portman, standing right. (Chris Maddaloni/Roll Call File Photo)

After huddling Wednesday with President Donald Trump and a handful of Democrats, Senate Republican tax writers said an overhaul bill that secures bipartisan support would be more “durable” than a GOP-only path. 

Senate Republicans are moving ahead with plans to ensure a tax bill could pass with as few as 50 GOP votes, with Vice President Mike Pence casting the tie-breaking vote. But after a White House meeting with Trump and five Senate Finance Committee Democrats, three GOP members on that panel said they agree with the president that a bipartisan bill is preferable.

Podcast: Reading Is Fundamental, Just Not Always in Congress
The Big Story, Episode 76

The House Chamber of the U.S. Capitol is seen before lawmakers arrive in 2015. (Al Drago/Roll Call File Photo)

Do lawmakers read or understand the legislation they pass? They are about to pass a budget resolution they say isn’t about the budget and passed legislation last year that defanged the DEA during an opioid epidemic. Roll Call senior Senate reporter Niels Lesniewski walks through what’s going on. 

 

Opinion: The Short Life Span of the Trump-McConnell Buddy Movie
Quest for lower taxes brings unlikely pair together

President Donald Trump and Senate Majority Leader Mitch McConnell talk to reporters in the Rose Garden following a lunch meeting at the White House on Monday. (Chip Somodevilla/Getty Images)

Dating back to the days of Walter Winchell, there was a standard photo display that newspapers used when celebrity couples headed to Splitsville. Tabloids would feature an earlier picture of the couple frolicking on a beach or walking down the aisle with the caption, “In Happier Days.”

The odds are high that Monday’s buddy-movie Rose Garden press conference with the odd couple of Donald Trump and Mitch McConnell will soon invite similar “In Happier Days” nostalgia. For did anyone believe Trump’s hyperbolic claims that the two men are “closer than ever” and that “the Republican Party is very, very unified”?

Capitol Ink | Meeting of the Minds

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Brady and Ryan Mulling Big Gamble on Key Tax Deduction
State and local tax deduction has its fans among rank and file, though

House Speaker Paul D. Ryan and Ways and Means Chairman Kevin Brady want to repeal the state and local tax deduction, but face resistance from several GOP colleagues in high-tax states. (Chris Maddaloni/Roll Call File Photo)

House Republican leaders face many decisions regarding details of a tax overhaul but perhaps none more immediately consequential than whether to roll the dice and try to eliminate the state and local tax, or SALT, deduction.

House Ways and Means Chairman Kevin Brady of Texas and Speaker Paul D. Ryan have made it abundantly clear they’d prefer to get rid of the deduction, which allows taxpayers to deduct what they pay in state and local property taxes and either state income taxes or sales taxes.