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The Latest Breaking News from Tax Cuts

House panel advances new Texas budget with property tax cuts, teacher pay raises

The proposal recommends spending billions on programs including property tax cuts, teacher pay raises, mental health services and border security. It leaves out requests for pay raises for retired state employees and funding for rent relief and childcare programs.

The Texas Tribune

States cranking out even more tax cuts amid cash surpluses

The tax-cutting trend is going full force in states even as some are raising concerns about a slowing economy

The Independent UK

Rural residents to benefit least from planned tax cuts

A new report on the federal government's stage three income tax cuts have shown those in regional areas would benefit the least from the changes.

AAP

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Hunt running a ‘high-tax, high-spend, low-growth, quasi-socialist economy’ – MP

Philip Davies, MP for Shipley, urged Jeremy Hunt to lower the ‘burden of taxation’ and introduce ‘some tax cuts’ days after the Chancellor’s Budget.

The Independent UK

Revealed: Where the winners and losers under the Stage 3 tax cuts live

A $254 billion Stage 3 tax plan for wealthy Australians will enrich inner cities at the expense of poorer regional and rural communities.

The New Daily

Lib Dems call on Hunt to scrap tax cuts for banks to give carers a rise

Treasury spokeswoman Sarah Olney will say ministers can cover the costs of recruiting 150,000 carers if they reverse giveaways for banks.

The Independent UK

Jeremy Hunt refuses to commit to tax cuts before 2024 election

Jacob Rees-Mogg, Priti Patel and others on low-tax right speak out against Budget moves

The Independent UK

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The Texas House and Senate differ on how to cut property taxes. Here’s what their proposals say.

Cuts to school property tax bills. Bigger tax benefits for homeowners. A controversial idea to limit property tax growth. Here’s what you need to know about the brewing property tax debate at the Texas Legislature.

The Texas Tribune

Jeremy Hunt vows to fill 1m vacancies but refuses to commit to tax cuts ahead of general election

Chancellor defends ‘back to work’ budget in round of TV interviews

The Independent UK

Nuclear subs, tax cuts, or money to raise the jobseeker rate – how would you spend Australian tax dollars?

Australia has unveiled a plan to acquire a fleet of up to eight nuclear-powered submarines, forecast to cost up to $368bn between now and the mid-2050s, and up to $58bn over the next 10 years. But what else could the money be spent on?

The Guardian - AU

Paul Bongiorno: AUKUS submarine project should torpedo Stage 3 tax cuts and other myths

Projected to cost $240 billion over 10 years, the Stage 3 tax cuts would go a long way to help pay for the submarine project.

The New Daily

Budget 2023: government needs to show it can jack up growth to regain economic credibility

UK chancellor Jeremy Hunt’s spring budget is a tricky one in terms of timing. Having announced a set of steadying measures in the autumn statement after the Truss/Kwarteng debacle, this budget is likely to be the last but one before a 2024 general election. This makes it a little early…

The Conversation

Families on Universal Credit to get childcare costs paid upfront in major help for parents

The Chancellor has pre-announced a series of key measures which aim to boost the UK workforce, which he argues will encourage growth that could allow for tax cuts later on

Daily Mirror

Hunt vows to be responsible with UK finances ahead of Budget

The Chancellor played down the prospect of major tax cuts despite pressure from Tory MPs.

The Independent UK

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The Independent UK

Biden to propose tax hike on billionaires’ investment income in 2024 budget

Mr Biden’s budget proposal will reportedly cut $3 trillion from the US budget deficit

The Independent UK

Biden budget seeks big deficit cuts in challenge to GOP

President Joe Biden is ready to unveil his proposed federal budget, his opening offer in a high-stakes debate about federal finances

The New Daily

No time for ‘freebies’: Calls for another tax break to be axed

Income tax cuts are back at the centre of debate as key independents say the public won’t tolerate another tax break for the very wealthy.

The New Daily

Pressure on Labor over tax cuts, amid broad support for super hikes

Pressure is mounting on the federal government over tax cuts, amid support for super changes and ahead of another interest rate rise.

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The Guardian - AU

Super changes could affect 10% of people retiring in 30 years, Labor reveals

Coalition accuses government of misrepresenting impact, while crossbenchers push to further tighten tax breaks for wealthy

Salon

GOP bill: Tax cuts for straight couples

Tax cuts would only be offered to certain Texans, excluding LGBTQ+, single or divorced parents

The Guardian - AU

Labor accused of ‘fiddling at the margins’ on super as Greens urge greater crackdown on tax concessions

Nick McKim says Albanese government proceeding with stage-three tax cuts means a ‘money-go-round scheme for the rich’

The Conversation

Grattan on Friday: Trimming the tail of the superannuation tax tiger is no easy task

If you were being really cynical, you might say the government should have hacked into those stage 3 tax cuts, while leaving super alone. That would have received much the same political angst, but saved a heap more revenue.

The Texas Tribune

Gov. Greg Abbott proposes devoting $15 billion to property tax cuts in budget plan

Abbott’s spending proposals also include spending $750 million on school safety and mental health services and expanding postpartum Medicaid to a year.

Salon

GOP bill: Make Trump tax cuts permanent

One economist noted that the measure is backed by the "same members who are pushing us to a debt limit crisis"

Irish Mirror

Taoiseach Leo Varadkar confirms temporary tax measures will be 'phased out'

Speaking in Limerick on Friday afternoon, Taoiseach Leo Varadkar said that it was always intended that temporary tax cuts would be temporary and that the Government will explain next week how they will be phased out.

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