#tax-reform

#tax-reform

President Trump signed a multitrillion-dollar package of tax breaks and spending cuts, achieving almost unanimous Republican support, which could define his legacy.

We're hearing that the House has passed the megabill after it got through the Republican Senate. Now it's on its way to President Trump's desk, and he's going to sign it. When he does, he will create some of the biggest tax breaks for billionaires in history, even more wealth to the wealthiest Americans. And the way they're paying for it is to cut health care for working-class Americans, to cut food that would go to veterans and children in this country.

The proposed change to reduce the tax-free cash savings limit under ISAs aims to steer £300 billion in cash holdings toward long-term investment in UK equities.

"it's perverse to then ask those very same businesses to foot the bill for high street tax cuts through higher business rates from 2026, a year before the energy support will come into effect."

Under Reform's plan, non-doms would pay a fee for a Britannia Card, avoiding taxation on foreign income and wealth, a move criticized as favoring the wealthy.

The much-maligned IR35 status checker tool, used by HMRC, saw a 73% decline in usage over the past financial year, reflecting growing discontent among contractors.

NHC strongly supports the housing provisions included in the House Ways and Means Committee's tax reform bill that aim to expand affordable housing.

A significant change in tax policy could relieve senior citizens from the burden of taxes on their Social Security income, especially for those earning less than $75,000.

"This is one of President Trump's priorities, and it's one of my priorities as well," Marshall said at a press conference unveiling the legislation.