Seattle’s payroll expense tax on large businesses generated $47 million less than projected last year, with Mayor Bruce Harrell suggesting major corporations are not contributing their fair share. The Office of Economic and Revenue Forecasts released its year-end revenue report on Tuesday, showing actual revenues of $360 million, falling short of the October projection of $406.8 million.
President Donald Trump is working to eliminate federal income taxes for individuals earning less than $150,000 per year, Commerce Secretary Howard Lutnick said Wednesday. Trump’s tax strategy also includes abolishing taxes on tips, overtime, and Social Security while implementing significant reductions in both individual and corporate tax rates.
A Georgia bill that ties property assessments to the rate of inflation is facing pushback from local government entities opting out of the measure. Approved by 63% of voters in November 2024, the bill aims to cap property tax increases, but some officials argue the restrictions could hinder their ability to fund essential services.
The Pentagon is preparing to deploy up to 1,500 active-duty troops to assist with securing the southern border, U.S. officials revealed on Wednesday. This decision aligns with directives issued by President Donald Trump through executive orders shortly after taking office, aimed at tightening immigration controls.
Since Sir Keir Starmer’s Labour Party came to power last year, British millionaires have been leaving the country at an unprecedented rate, fleeing the punitive tax policies that have come to define Labour’s left-wing agenda.
On January 16, 2025, Senator Ted Cruz (R-TX) reintroduced the bipartisan "No Tax on Tips Act," aiming to exempt gratuities from federal income taxation.
