Dog Wonder
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Trump takes credit.
Tariffs
- Thread starter delldude
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WeAAsles
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The White House is making a last-ditch push to raise taxes on the wealthiest Americans as part of President Trump’s “big beautiful bill,” as Republican lawmakers craft the final details of the tax package.
The proposal, according to three sources, would allow the top marginal income tax rate cut that Trump signed into law in 2017 to expire at the end of the year for the highest-income Americans — meaning that rate would rise from 37 percent to 39.6 percent — while Republicans would extend the 2017 tax cuts for the lower tax brackets.
While the top tax bracket for 2024 applied to incomes higher than $609,351 for single filers and $731,201 for joint filers, the White House is pitching a new higher rate that would apply to those with incomes greater than $2.5 million for single filers or $5 million for joint filers, according to one source with knowledge of the pitch. Punchbowl News first reported those figures.
The proposal, according to three sources, would allow the top marginal income tax rate cut that Trump signed into law in 2017 to expire at the end of the year for the highest-income Americans — meaning that rate would rise from 37 percent to 39.6 percent — while Republicans would extend the 2017 tax cuts for the lower tax brackets.
While the top tax bracket for 2024 applied to incomes higher than $609,351 for single filers and $731,201 for joint filers, the White House is pitching a new higher rate that would apply to those with incomes greater than $2.5 million for single filers or $5 million for joint filers, according to one source with knowledge of the pitch. Punchbowl News first reported those figures.
WeAAsles
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The full interview/ Q&A was very informative. Every time the Administration talks they let out just a little more of their details on what they’re doing and what they want. Ex: 50% of semiconductors to be made in the USA 🇺🇸 and the World makes the other 50%
Low value products will have low Tariffs. Higher values in some cases will have higher Tariffs.
This is just a piece of that interview.
Low value products will have low Tariffs. Higher values in some cases will have higher Tariffs.
This is just a piece of that interview.
WeAAsles
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Sovereign wealth funds typically invest assets from a country's natural resources with an aim to make returns that would provide a public windfall. Some of the best-known funds are financed by revenue from gas or oil, including Saudi Arabia's Public Investment Fund and Norway's sovereign wealth fund. These funds can help insulate countries from swings in the value of natural resources, provide funds for government expenditures and allow future generations to benefit from current oil and gas revenue.
In February, Mr. Trump issued an executive order that directed the Treasury and Commerce secretaries, in close coordination with the National Economic Council's Kevin Hassett, to draft a plan for the sovereign wealth fund within 90 days.
www.cbsnews.com
In February, Mr. Trump issued an executive order that directed the Treasury and Commerce secretaries, in close coordination with the National Economic Council's Kevin Hassett, to draft a plan for the sovereign wealth fund within 90 days.
Bessent and Lutnick sent plan for U.S. sovereign wealth fund — but White House has pushed back
President Trump wants to launch a U.S. sovereign wealth fund — but the administration is still debating the mechanics of the fund.
www.cbsnews.com
KCFlyer
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No need to worry about that - you're the only one that;'s talking
WeAAsles
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WeAAsles
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- Joined
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WeAAsles
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The Trump administration is weighing a plan to slash the 145% tariff on Chinese imports by more than half — effective as soon as next week — as top US and China officials head to Switzerland for high-level trade negotiations, The Post has learned.
Specifically, US officials are discussing a proposal to lower President Trump’s punishing levy on China goods to between 50% and 54% as they begin what promise to be lengthy talks to hammer out a trade agreement, sources close to the negotiations said.
nypost.com
Specifically, US officials are discussing a proposal to lower President Trump’s punishing levy on China goods to between 50% and 54% as they begin what promise to be lengthy talks to hammer out a trade agreement, sources close to the negotiations said.
Exclusive | US weighs plan to slash China tariffs to as low as 50% — down from 145% — as soon as next week: sources
Insiders said the 50%-to-54% range is in keeping with rates that were discussed last month when President Trump met with the bosses of the three biggest retailers in the US.
nypost.com
