Legislative bills
The Senate Committee on Ways and Means, led by Senator Sherwin Gatchalian, has decided not to tackle the tobacco tax rollback provision in House Bill 11360. Gatchalian argued that lowering taxes will not curb illicit trade, and instead emphasized the need for stronger enforcement. The committee has already conducted three
Legislative bills
If passed into law, the Republican-led legislation to repeal electric vehicle incentives would deliver a significant blow to the growth of the technology in the United States, slowing sales and production of battery-powered cars and trucks. The measure would repeal many of the subsidies that have been critical to the
Legislative bills
Democrats have expressed concern over the massive tax and spending bill passed by the U.S. House Republicans, which could result in 3.2 million people losing food assistance benefits and saddling states with over $14 billion in annual costs. The bill, which aims to extend the 2017 tax law
Legislative bills
The US House of Representatives passed a massive tax and immigration legislation that includes a provision banning Medicaid coverage of gender transition care for individuals of all ages. This marks an escalation of Republican efforts to restrict access to healthcare for transgender people, following a series of state-level bans and
Public finance
Wisconsin Governor Tony Evers and state lawmakers are embroiled in a debate over tax cuts, with both sides seemingly agreeing on the need for reductions. However, this agreement belies deeper concerns about the impact of tax cuts on the state's budget and its residents. Amidst the debate, critics
Public finance
Today, the House of Representatives voted 215-214 to advance a Republican plan to cut healthcare for millions of vulnerable patients under Medicaid and the Affordable Care Act to pay for tax cuts for wealthy individuals and corporations. Representative Scott Peters (CA-50) voted against the plan, citing its fiscally irresponsible and
Public finance
Pakistan's IT sector has issued a stern warning to the government: reform the tax system or risk losing top companies to more business-friendly nations. The warning comes as the federal budget approaches, with the sector's association, the Pakistan Software Houses Association (P@SHA), urging the government
Public finance
As House Republicans rush to finalize and pass a sweeping policy bill, the Congressional Budget Office has released an analysis suggesting that President Trump's tax policies would add roughly $3.8 trillion to the national debt over the next 10 years. The bill, which aims to cement Trump&
Legislative bills
US Senators Jeanne Shaheen (D-NH) and Josh Hawley (R-MO) have introduced the No Handouts for Drug Advertisements Act, a bipartisan bill aimed at eliminating tax deductions for pharmaceutical companies on expenses related to direct-to-consumer advertising of prescription drugs and compounded medications. Under current law, these companies can deduct the costs
Public finance
The Republican-backed tax and spending bill has drawn criticism from experts for its potential to add trillions of dollars to the federal deficit and negatively affect the poorest of Americans. According to the nonpartisan Congressional Budget Office, the bill would add more than $3 trillion to the national debt over
Legislative bills
The National Assembly on Friday made significant strides in its legislative agenda by passing nine bills, including key amendments to the income tax and anti-dumping duties laws. The bills, which also encompassed private members' proposals, saw a blend of government and private initiatives come to fruition. The session, chaired
Legislative bills
The Inflation Reduction Act (IRA) was touted as a climate solution, but it has turned the tax code into a multi-trillion-dollar energy entitlement program, creating subsidies without caps, sunsets, or accountability. The House Ways and Means Committee recently passed a tax bill that repeals eight of the IRA credits, phases
