taxes

House Republicans made steady progress Tuesday on their goal to pass a sweeping tax bill in their chamber by Thanksgiving, as Senate leaders prepared to release their own tax legislation later this week.

The quick progress comes as Republicans race to pass steep tax cuts into law by Christmas to meet a deadline set by President Trump. But significant challenges lie ahead as Republicans try to avoid repeating the bitter party infighting that doomed earlier attempts to pass a GOP health care bill.

Updated at 3:10 p.m. ET

House Republicans unveiled a draft tax bill on Thursday, calling for deep cuts in both individual and corporate tax rates.

"With this bill, we will grow our economy by delivering more jobs, fairer taxes, and bigger paychecks to Americans of all walks of life," said Rep. Kevin Brady, R-Texas, chairman of the House Ways and Means Committee.

This week, Sarah Huckabee Sanders promoted one of the White House's chief selling points about the Republican tax plan. The pitch: American households will get an additional $4,000 as a result of the tax overhaul proposed in September.

The number comes from an estimate produced by the Council of Economic Advisers earlier this month.

Honorably discharged veterans could get a two-month break from sales taxes under a measure filed by Miami Democratic Representative Kionne  McGhee.

Before any hard battle, it's common to seek a little spiritual guidance.

In preparation for the coming fight this fall to overhaul the entire federal tax code, a group of House Republicans on the Ways and Means Committee traveled this week to Rancho del Cielo — the ranch of former President Ronald Reagan, outside Santa Barbara, Calif.

The ranch is where Reagan signed one of his major tax cuts into law, and the GOP is working this month to capture some of that Reagan-era magic to deliver a modern tax bill of its own.

Florida Gov. Rick Scott wants to put a constitutional amendment on the ballot that would make it harder for state legislators to raise taxes or fees.

A24 films / Courtesy

Film and TV productions will get some incentives to shoot in Miami-Dade County. A stop-gap county-based program hopes to plug some of the hole created by the state’s refusal to implement its own Florida-wide benefits.

A24 Films

Update 7/19/2017: The county has approved the establishment of an incentive program. Read more here.

The film industry may soon find it more appealing to make TV shows and movies in Miami-Dade County as commissioners consider a county-based film incentive program.

Florida will eliminate taxes charged on tampons under a measure signed into law by Gov. Rick Scott.

Updated 9:45 a.m. ET

The White House is banging the drums that President Trump is doing something big again ahead of his 100th day in office — unveiling a tax "plan."

"This is going to be the biggest tax cut and the largest tax reform in the history of our country," Trump's Treasury Secretary Steve Mnuchin said at a panel Wednesday morning.

WUSF News

With three weeks left before the end of the regularly scheduled legislative session, the two chambers of the Florida Legislature are about $4 billion apart in their spending plans. While the gap is closing, the fundamental position of the top budget lawmaker in the House is to shrink state spending.

Millions of taxpayers are rushing to complete their federal and state filings before the April 18 deadline. Among them are several million people in this country illegally, and there are signs that fewer such immigrants are filing than in years past.

Back in 2012, Republican presidential nominee Mitt Romney's campaign suffered a blow when a tape was leaked of him grousing that 47 percent of Americans don't pay federal income tax. It was one of the biggest gaffes of the presidential campaign, but a new poll conducted by Ipsos for NPR suggests that many Americans forgot it.

Even as they lick their wounds from a failed Affordable Care Act repeal effort, Republican leaders in Washington are looking ahead to the next battle — over taxes.

"I would say that we will probably start going very, very strongly for the big tax cuts and tax reform," President Trump told reporters Friday. "That will be next."

Republican House Speaker Paul Ryan agreed, though he conceded that the defeat on health care was a setback.

"This does make tax reform more difficult," Ryan said. "But it does not in any way make it impossible."

President Trump has made clear he doesn't like the alternative minimum tax, a complex federal levy that will hit some 4.8 million taxpayers this year.

A two-page tax return, filed by Trump for 2005 and revealed Tuesday, may suggest one reason. Because of the AMT, Trump was required to pay about $38 million in taxes on income of more than $150 million that year.

Without it, Trump's bill would have been a lot lower.

Pages