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The Latest Breaking News from Tax Cuts

Rome clears EU-bound budget draft with healthcare trims

With the EU’s filing deadline looming, Rome approved its draft budget plan on Tuesday and will reconvene this Friday to lock in the tax cuts and funding. That's before sending the full budget bill to parliament by 20 October.

Euronews

Reform UK abandoning manifesto pledge of £90bn in tax cuts, deputy leader admits

Richard Tice says party will concentrate on cutting civil service and scrapping net zero once in government

The Guardian - UK

Farage to give up Reform’s manifesto pledge for £90bn in tax cuts

Reform UK leader Nigel Farage will promise not to reduce taxes before cutting spending and making savings in the civil service at a major speech next month

The Independent UK

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Tory party conference 2025: Mel Stride pledges £5,000 national insurance rebate for young homebuyers

Shadow chancellor will use his Tory conference speech to set plans to cut welfare spending, foreign aid and the Civil Service if his party wins the next election

Evening Standard

Florida Residents Could Soon Get Property Tax Relief

The push for a solution to end high property taxes could lead to significant tax cuts in the Sunshine State next year.

Kiplinger

Trump wants to rebrand his ‘big, beautiful bill’ as the ‘Working Families Tax Cut’. Don’t be fooled

The budget measure will hurt poor people and boost rich people. It should really be called the Billionaires’ Tax Cut Act

The Guardian - US

17 statewide propositions will appear on the November ballot. Here’s what Texas voters need to know.

A majority of the proposed constitutional amendments address tax cuts for homeowners and businesses.

The Texas Tribune

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Is the One Big Beautiful Bill Really All That Great for Your Retirement?

While tax cuts sound attractive, it's still wise to plan ahead for retirement by considering strategies like Roth conversions to offset potential tax increases in the future and stealth taxes that could surprise you.

Kiplinger

Public services vs. tax cuts: What are Europeans willing to sacrifice?

Four in ten EU citizens believe taxes are too high and support tax cuts, even if this leads to fewer or lower-quality public services. Still, about a quarter favour paying higher taxes in return for better and expanded services.

Euronews

NZ First wants a compulsory KiwiSaver. Boosting the Super Fund is a better bet

An ageing population not saving fast enough for its retirement has been called a “timebomb” and a looming crisis, with many New Zealanders facing the prospect of hard times when they stop earning.

The Conversation

Greek prime minister unveils broad tax-cuts package in keynote policy speech

Greek Prime Minister Kyriakos Mitsotakis has unveiled a 1.6 billion-euro ($1.87 billion) tax cuts package in a keynote speech at the Thessaloniki International Fair

The Independent UK

Trump’s Big Beautiful Bill Reduces Federal Taxes in Every State: Here’s How Much of a Cut You Could See

Most taxpayers just dodged a major tax hike. See how much you could save under Trump’s extended tax cuts and which states benefit the most -- and least.

GOBankingRates

Why Old Cars Are More than Just Machines: From Tax Benefits to Living Time Capsules of Human Ingenuity

Under Section 179 of the 2017 Tax Cuts and Jobs Act, business owners who utilize a qualifying asset for more than 50% of business purposes may deduct its cost in the first year.

International Business Times

I Asked ChatGPT To Debunk One Common Myth About Trump’s Economy: Here’s What It Said

ChatGPT elaborates on the Trump tax cut myth, revealing they don’t pay for themselves and could add $2.8T to the deficit, per multiple data sources.

GOBankingRates

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Top News

Trump Shifts Messaging On Domestic Policy Law

President Trump changes messaging strategy to highlight tax cuts for middle-class Americans in domestic policy law.

The Guardian - UK

One in four UK late-night venues have closed since 2020, figures show

Industry body calls for urgent tax cuts to save ‘cornerstones of community life’ and halt rise of ‘night-time deserts’

Fortune

Trump’s tariffs are becoming such an important revenue source that they’re now propping up America’s debt rating

“At this time, it appears that meaningful tariff revenue has the potential to offset the deficit-raising aspects of the recent budget legislation.”

Al Jazeera

Is Trump’s ‘Big Beautiful’ spending law the biggest tax cut in US history?

Trump’s 2025 law ranks third among tax cuts since 1980 and mainly extends old cuts, making its impact modest for most.

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The Independent UK

Trump touts perceived wins while praising ‘healthy, attractive people’ on DC federal patrol photo op

‘ We've done a lot of good work, including the biggest tax cuts that you've ever had,’ Trump said

GOBankingRates

4 Big Retirement Changes Under Trump’s Big Beautiful Bill

President Donald Trump's One Big Beautiful Bill Act (OBBBA) is his administration's signature legislation during his second term and includes tax cuts, health insurance cuts, green energy cuts,...

GOBankingRates

4 of These Trump Tax Cuts Are Short-Lived — Here’s How To Maximize Them Before They Expire

Trump’s OBBBA tax cuts offer big savings, but some of the cuts will expire in 2028. Learn how to claim deductions and maximize benefits before they vanish.

GOBankingRates

2 Changes Coming to American Car Prices Under Trump

Between the recently passed One Big Beautiful Bill Act and his promised tax plan initiatives, President Donald Trump is taking big economic swings. His focus on tariffs, deregulation and tax cuts will...

We Got This Covered

Elon Musk’s own brainchild now haunting him as it broke free from his control with ‘consequences’

One big, beautiful contradiction.

Kiplinger

Biggest Winners and Losers in Trump's New Tax Plan

Trump’s mega tax overhaul, known as the ‘One Big Beautiful Bill,’ has distinct winners and losers. Which group do you fall into?

GOBankingRates

I Asked ChatGPT How Trump’s Tax Cuts Could Impact My Family Budget — Here’s the Breakdown

I asked the AI platform how Trump's tax cuts under the One Big Beautiful Bill Act could impact my family budget. Here's what it told me.

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