Big Tax Cut Decision Looms The $3.4 Trillion Conundrum: Will the Government Extend Tax Cuts or Let Them Expire? According to EditionCNN, A big decision is coming soon about tax cuts. The tax cuts are worth $3.4 trillion and will expire at the end of 2025. This means that the government will have to make … Read more
In a move aimed at reducing the tax burden on residents, Governor Kim Reynolds, a Republican, has approved a new law that will see Iowans paying a flat income tax rate of 3.8% starting next year. This marks a substantial decrease from the current top income tax rate of 5.7%. The law, Senate File 2442, … Read more
Tennessee lawmakers have recently greenlit a significant tax cut amounting to nearly $2 billion for the state’s businesses. Spearheaded by Governor Bill Lee, this move aims to provide rebates to over 100,000 businesses statewide. However, the decision hasn’t been devoid of controversy. The approved plan, which will cost the state over $1.5 billion upfront and … Read more