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☆ 29 House Republicans want Trump to scrap the IRS's free direct tax filing tool on day one of his presidency
▼ + stars: | 2024-12-11 | by ( Bryan Metzger | ) www.businessinsider.com time to read: +2 min

The IRS has gradually rolled out a program to allow Americans to directly file taxes with the IRS. A group of Republicans want Trump to end it, saying it's government overreach. More than two dozen House Republicans are asking President-elect Donald Trump to terminate the Internal Revenue Service's (IRS) free direct tax filing system as soon as day one of his presidency. The new program is designed to compete with those programs and make filing easier and less costly for Americans. They also cast the free direct-file program as an example of the "weaponization of government against Americans," a long-standing focus of Trump and MAGA-aligned right.

Persons: It's, Trump, Donald Trump, Adrian Smith of Nebraska, Chuck Edwards of, Elon Musk, Vivek Ramaswamy, DOGE, Smith, Edwards, Vance Organizations: IRS, Republicans, Trump, MAGA Locations: Chuck Edwards of North Carolina

☆ With Kevin McCarthy as Speaker, Congress faces a messy debt ceiling fight — and Biden might have to mint a trillion dollar platinum coin
▼ + stars: | 2023-01-09 | by ( Ayelet Sheffey | Brent D. Griffiths | ) www.businessinsider.com time to read: +6 min

Those included using the debt ceiling as leverage to slash spending on Democratic priorities like Social Security. These GOP demands could be especially problematic for President Joe Biden as Congress will have to raise the debt ceiling by mid-2023. Importantly, the debt ceiling isn't tied to new spending — it allows the government to pay for what Congress has already appropriated. In 2011, amid another debt ceiling standoff between congressional Republicans and then-President Barack Obama, S&P downgraded the US' credit rating, which top officials at the rating agency said was due to the delay in raising the debt ceiling. Other possibilities include using the 14th Amendment to sidestep the debt ceiling.

☆ Republican takeover of U.S. Congress would mean tax fights are back
▼ + stars: | 2022-11-04 | by ( David Lawder | Gram Slattery | ) www.reuters.com time to read: +6 min

Congressional Republicans' tax strategies and a Democratic White House could ultimately mean a status quo on rates, deductions and credits for the next two years, tax professionals and analysts say. TAX CUTS AND JOBS ACT"We want to make the Tax Cuts and Jobs Act permanent, which will strengthen the economy," a senior House Republican aide told Reuters. That 2017 Republican-passed tax law slashed top-line tax rates on corporations, a permanent feature that Democrats failed to reverse with control of Congress over the last two years. AIMING AT THE IRSOther targets for Republican tax legislation include rolling back a new 15% domestic corporate minimum tax for large companies and $80 billion in new funding for the Internal Revenue Service in Biden's climate and healthcare law. It will be used to fill thousands of IRS positions coming empty due to retirements and budget cuts; Republicans have described the hires as an 'army' aimed at harassing taxpayers.

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