Trump considers taxing the rich as his agenda hits new roadblock – CBS News Watch CBS News A California judge paused the Trump administration’s efforts to drastically downsize the government. President Trump is now suggesting taxing the rich as a way to pay for his plans. Willie James Inman has more. Be the first to…
The Trump administration’s plan to trim the IRS workforce has resulted in almost one-third of its tax auditors leaving the agency through March, according to a report from the U.S. Treasury Department’s watchdog. Elon Musk’s Department of Government Efficiency, or DOGE, has sought to trim the federal workforce through a combination of layoffs and so-called…
President Trump describes his administration’s sweeping new tariffs on other countries as a tool for accomplishing a range of key economic goals, including reviving U.S. manufacturing. Recently, he’s been highlighting another aim: Lowering, or even eliminating, individual income taxes for most Americans. “When Tariffs cut in, many people’s Income Taxes will be substantially reduced, maybe…
Data shows the IRS’ Direct File free tax-filing tool has helped save taxpayers money. Now lawmakers want to know why the Trump administration may soon pull the plug on the program. The Trump administration is planning on ending Direct File, the Associated Press reported earlier this month, citing people familiar with the plan. The program,…
If you’re still scrambling to get your taxes filed before the April 15 deadline, an extension can take the pressure off. Normally, the IRS recommends that people file their income tax return as early as possible. But that’s not always feasible, whether because of personal circumstances or a complicated tax situation. For those in a bind,…
BANGKOK (AP) — Asian shares sank Friday after U.S. stocks gave up much of their historic gains from the day before. The deepening worries over President Donald Trump’ s trade war initially helped pull Japan’s Nikkei 225 share index down 5.6%. By mid-morning in Tokyo, it was down 4.7% at 32,969.95. The yen surged against…
The acting commissioner of the Internal Revenue Service is expected to resign after the agency disclosed that it has agreed to share immigrants’ tax data with Immigration and Customs Enforcement to help identify and deport undocumented immigrants. According to a source familiar with the situation and a statement from the Treasury Department, Melanie Krause is…
With his announcement of widespread new tariffs on Wednesday, President Trump spared very few places in the world from his effort to upend global trade — not even the remote Heard Island and McDonald Islands, a sub-Antarctic Australian territory inhabited by penguins, but no people. The islands were listed among the nations and territories hit…
Zhejiang, China — Smartly dressed, 42-year-old businessman Qian Weiguang gets out of his black Mercedes van, eager to check on the status of operations. He’s just driven an hour from his showroom and is keen to show our CBS News team his newest factory — one of three he has in a sprawling industrial area outside…
Sir Keir Starmer has refused to rule out tax rises in the autumn budget but said the decision not to increase tax in the spring statement indicated the “mindset” of the government. “We did have manifesto commitments in relation to tax and what taxes we wouldn’t raise — and we kept good to those promises,”…