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Tax Reform

All articles tagged with #tax reform

Report: US Private Jets Pollute 14x More Than Commercial Flights While Paying Minimal Taxes
environment-and-policy1 month ago

Report: US Private Jets Pollute 14x More Than Commercial Flights While Paying Minimal Taxes

A new report by the Institute for Policy Studies (IPS) reveals that private jet travel in the US is surging, with emissions rising 50% since 2019. Despite accounting for 16% of flight operations, private jets contribute less than 0.6% of aviation taxes. The report highlights that private jet owners have a median wealth of $190 million and that these flights produce 10 to 14 times the carbon emissions of commercial flights per passenger. IPS argues that the ultra-wealthy are subsidizing their luxury travel through public infrastructure and tax breaks, while commercial passengers bear the costs of increased congestion and delays.

via The Guardian|
#climate-policy#environment-and-policy#institute-for-policy-studies
White House launches $1,700 tax credit to expand school choice
politics1 month ago

White House launches $1,700 tax credit to expand school choice

On August 24, 2026, President Donald Trump and Education Secretary Linda McMahon announced a major expansion of school choice initiatives at a White House event. The centerpiece is the Education Freedom Tax Credit, set to begin in 2027, which offers a $1,700 credit for donations to scholarship organizations. The administration claims nearly 52 million students will be eligible, aiming to shift control from federal agencies to parents and states. Simultaneously, the Department of Education is being dismantled, with its workforce cut by half and responsibilities transferred to state governments.

via Fox News|
#education-policy#k-12#linda-mcmahon
politics4 months ago

DeSantis pushes ballot-backed Florida property tax overhaul amid affordability push

Gov. Ron DeSantis unveiled a sweeping Florida property-tax overhaul that would raise the homestead exemption to $250,000 and cap annual increases on commercial property at 5%, with a five-year wait for new residents to access the larger break. If approved by voters this fall, the plan would be advanced in a special session and requires a legislative supermajority to place the amendment on the ballot and 60% voter approval to pass. The proposal could be DeSantis’ last major policy push and faces internal GOP resistance and opposition over potential losses in school funding and other local services, though he also proposes a standalone fund to help local governments maintain core services.

via Politico|
#desantis#florida#homestead-exemption
Record DAF Giving Surges as Expiring Tax Breaks and Markets Rally
business8 months ago

Record DAF Giving Surges as Expiring Tax Breaks and Markets Rally

DAFgiving360 reports a record $9.9 billion granted via donor-advised funds in 2025, up 28% from 2024, driven by strong market returns and expiring tax benefits under the One Big Beautiful Bill Act. About 74% of contributions were non-cash assets, as donors use DAFs to secure upfront tax deductions while they time grants to charities. New tax rules cut top-bracket benefits and cap itemized deductions, potentially slowing future giving and nudging donors away from direct 'checkbook philanthropy'.

via CNBC|
#business#charitable-giving#donor-advised-funds
Missouri Eyes Ballot to Phase Out Income Tax with Expanded Sales Tax
politics9 months ago

Missouri Eyes Ballot to Phase Out Income Tax with Expanded Sales Tax

Gov. Mike Kehoe proposed placing a statewide ballot question to begin phasing out Missouri’s personal income tax within five years, funded by expanding the sales tax to cover digital and modern services (excluding agriculture, health care, and real estate). The move would require constitutional changes and legislative action, and faces opposition from Democrats who warn it could amount to a large tax increase even as Kehoe argues it would boost growth and provide local tax relief.

via Missouri Independent|
#ballot-measure#income-tax#missouri
US Secures Exemptions in Global Corporate Minimum Tax Deal
world9 months ago

US Secures Exemptions in Global Corporate Minimum Tax Deal

The OECD's agreement to exempt the US from its Pillar 2 tax reform is criticized for undermining global tax sovereignty and costing countries billions in lost revenue, with the Tax Justice Network highlighting the shift of profits and tax abuses by US multinationals. Meanwhile, UN-led negotiations are advancing a more equitable 'pay-where-you-play' approach, challenging the US and OECD's influence on global tax rules.

via Tax Justice Network|
#oecd#tax-reform#tax-sovereignty
International Consensus Reached on Global Minimum Tax Framework
world9 months ago

International Consensus Reached on Global Minimum Tax Framework

The OECD/G20 Inclusive Framework has reached a historic agreement among 147 countries on a comprehensive package to implement a global minimum tax, aiming to enhance tax certainty, reduce compliance burdens, and protect tax bases, especially in developing countries, with plans for implementation support and future simplifications.

via OECD|
#developing-countries#global-minimum-tax#international-tax-cooperation
Trump Considers Eliminating Capital Gains Tax on Home Sales to Boost Housing Market
politics1 year ago

Trump Considers Eliminating Capital Gains Tax on Home Sales to Boost Housing Market

President Trump has indicated support for legislation that would eliminate capital gains taxes on home sales, potentially impacting millions of homeowners by allowing them to sell their primary residence without paying taxes on profits exceeding $250,000 for singles or $500,000 for couples. This proposal comes amid ongoing debates about updating outdated tax policies and could significantly influence the housing market and affordability.

via Forbes|
#capital-gains-tax#home-sales#housing-market
Americans Face Varying Tax Impacts and Political Shifts Under Trump's Policies
business1 year ago

Americans Face Varying Tax Impacts and Political Shifts Under Trump's Policies

The new $3.4 trillion tax law signed by President Trump complicates the tax code by expanding benefits for certain groups like investors and high-income earners, while making effective tax rates vary widely based on earning sources and personal circumstances, moving away from the previous goal of simplification and potentially increasing inequality.

via Bloomberg|
#business#income-inequality#tax-deductions