Tag: Government debt

Trump To Propose Cutting Corporate Tax Rate To 15 Percent

On Wednesday, President Trump will announce his plan to overhaul the tax code, including his proposal to cut the corporate tax rate from 35 percent to 15 percent, White House officials told The Washington Post on Monday. Independent analysts have estimated a cut this severe could cost the federal government $2.4 trillion over 10 years,…

Congress to Act on Debt Limit By Nov. 5

Treasury Secretary Jacob Lew warned lawmakers in a letter on Thursday that the deadline for increasing the government’s borrowing limit has moved up to about Nov. 5, or a month earlier than expected. The altered deadline was due to tax receipts coming in below estimates and military retirement trust funds costing more than expected, according…