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The Latest Breaking News from Tax Cuts

Sixth Circuit Concludes ARPA Condition on COVID Relief Violates Spending Clause

The U.S. Court of Appeals for the Sixth Circuit concluded some state challenges to the COVID relief bill were not justiciable, but reaches the merits in one case and finds the law lacking.

Reason

We will pay the price of Tory party mess as Jeremy Hunt issues dire warning

The situation is dire but it wouldn’t be so bleak if it wasn’t for Liz Truss and Kwasi Kwarteng’s mini-budget that took the country to the edge due to its unfunded tax cuts for the richest in society.

Daily Record

Iowa Republican Gov. Reynolds reelected over Democrat DeJear

Republican Iowa Gov. Kim Reynolds won a second full term after campaigning on a record of tax cuts and conservative handling of the state’s economy

The Independent UK

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Allison Schrager: Republicans’ plan to fix the economy is … we’re still waiting

It's easy to criticize the Democrats’ economic policies now that they have had a few years in power and passed several big bills, but also because they've articulated a clear economic vision for the country: expanding the government’s role in the economy with more generous social programs, higher taxes for…

Tribune News Service

Angus Taylor says government axing stage-three tax cuts ‘would be a broken promise of incredible magnitude’

Shadow treasurer describes the policy as the greatest ‘marker of values in this term of parliament’

The Guardian - AU

Morning Mail: voters want power bill help, Kohli in hotel security breach, a taxing question for Plibersek

In today’s newsletter: a survey finds more than two-thirds of respondents want the government to intervene in energy market; Tanya Plibersek says she’d ditch tax cuts; and a flood rescue support package will be announced

The Guardian - AU

‘I would get rid of them’: Tanya Plibersek said she was against stage-three tax cuts, constituent claims

Longtime Labor supporter says Plibersek told him she disagreed with the decision to keep tax cuts legislated by former Coalition government

The Guardian - AU

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Michael Gove says Tories should apologise for Liz Truss’s ‘holiday from reality’

Reinstalled levelling up secretary says he understands public anger at party’s choice of Truss and her tax cuts for the rich

The Guardian - UK

Trussonomics: No better than 'liberty' lettuce

Following the brutal market backlash against her plans for unfunded tax cuts and tens of billions of pounds in additional spending, Liz Truss resigned as British prime minister, succeeded by her Tory rival, Rishi Sunak. The international media is now struggling to make sense of it all, but the task…

Bangkok Post

Trump’s 2017 tax cuts helped set stage for today’s inflation. Doubling down will make things worse.

The claim of irresponsible Republicans that they would do a better job than Democrats of containing inflation is just not believable.

Chicago Sun-Times

Labor's first budget back in government will make income inequality worse, and the stage 3 tax cuts are mainly to blame

Well-off households will get a $5,740 income boost from the Albanese government's biggest budget measures. The poorest will get just $17.

ABC News

Michael Hiltzik: Britain's prime minister followed the GOP's economic plan. She lost her job in record time

Fox Business talking head Larry Kudlow was over the moon on Sept. 23.

Los Angeles Times

Michael Gove back in cabinet as he's named Levelling Up Secretary - again

The Tory heavyweight broke ranks earlier this month by suggesting he would not vote for Liz Truss's disastrous tax cuts, accusing the departed PM of showing the "wrong values"

Daily Mirror

Labor’s Dropped Its First Federal Budget In A Decade So Here Are 6 Takeaways For Young Aussies

Labor's flagged the budget as "responsible" - but it's still going ahead with those tax cuts.

Pedestrian.tv

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The Guardian - AU

You be the treasurer: scrap the stage-three tax cuts, spend money, or pay down the federal budget deficit

Tax cuts for high-income earners, build a bullet train, add dental to Medicare or build more social housing? You decide with our interactive guide

The New Daily

Paul Bongiorno: A budget to reset the big arguments

The Albanese government tells us it has taken to heart the admonition that those who fail to learn from history are doomed to repeat it.

The Guardian - UK

Forget tax cuts. We need a tax rise – or Britain’s public services will collapse

The idea won’t please those on the right or the left, but Labour must break the taboo and argue for higher tax, says former Labour minister Chris Mullin

The Guardian - UK

Have Liz Truss’s 44 days in office destroyed 40 years of free market philosophy?

Economists soon saw through Truss and Kwasi Kwarteng’s plans for billions of unfunded tax cuts to benefit the rich

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The Guardian - UK

Fall of Liz Truss gives Italy’s far right a lesson in what not to do

Giorgia Meloni’s radical economic agenda had resembled Kwasi Kwarteng’s. It won’t any longer

The Guardian - UK

Liz Truss ignored economists’ stark warnings over mini-budget

Pair sympathetic to her growth agenda told Truss before she became PM that plans needed to be handled with care

ABC News

Malcolm Turnbull, an architect of stage 3 tax cuts, still backs them, despite higher costs

The prime minister who originally introduced the stage three tax cuts to the parliament says you would probably not legislate them today, given their growing cost and the deteriorating budget position.

The New Daily

Jim Chalmers is ignoring his own warnings of a possible recession

The Treasurer appears to be ignoring his own warnings ahead of the federal budget about the need to be prepared for a global recession.

France 24

Leadership crisis: What next for the UK after Liz Truss?

Despite their record brevity, Liz Truss's 44 days in office will long be remembered. The UK prime minister has now resigned after pressure that became too much. How did the Conservative Party elect a leader who so badly misread the mood and the markets with her failed bid for unfunded…

The Guardian - UK

From fighter to quitter: timeline of Liz Truss’s U-turn littered premiership

Key moments in the 45 days between Truss becoming prime minister and announcing her departure

The Times of India

Liz Truss quits after just 45 days in office, becomes shortest-ruling UK PM

LONDON: Liz Truss resigned as UK prime minister after a brief and chaotic tenure that saw her announce a massive package of unfunded tax cuts before unwinding most of it in the face of a market rout.

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