The federal government collected approximately $740 billion in taxes in the first quarter of fiscal year 2017, but the federal government still ran a $208 billion deficit during that time, according to the latest monthly Treasury Department statement.
House Majority Leader Kevin McCarthy (R., Calif.) said that the way to create growth in this economy is through healthcare, tax, and regulation reform.
President-elect Donald Trump’s proposals to cut taxes on corporations and personal income will boost economic growth, according to a new report from the World Bank Group.
The Affordable Care Act’s health insurance tax will lead to more premium hikes if it is not repealed, according to the U.S. Chamber of Commerce.
The complexity of the tax code now costs the economy around $1 trillion per year, according to a report from the Tax Revolution Institute.
The federal government collected a record amount of taxes in the first two months of fiscal year 2017, totaling $422 billion in revenue, according to the latest monthly Treasury Department statement. The federal government ran a deficit of $181 billion despite the record revenue.
Newly elected Republican Study Committee Chair Rep. Mark Walker (R., N.C.) said that tax reform and repealing Obamacare are two agenda priorities in the upcoming year.
IRS employees sent emails with sensitive taxpayer information to their own personal email accounts, according to an audit from the Treasury Inspector General for Tax Administration.
Inflation-adjusted federal tax revenues hit a record $222 billion in the first month of fiscal year 2017, but the federal government still ran a $44 billion deficit during that time, according to the latest monthly Treasury Department statement.