Taxation
The Republican-led House of Representatives passed a contentious tax and immigration bill in a 218-to-214 vote, with two GOP members opposing the measure. The bill, which includes provisions addressing tax reform and immigration policies, now heads to President Donald Trump for signature, with a signing ceremony scheduled for Friday, July
Taxation
President Trump's latest proposal promises to balloon the national debt while providing massive tax breaks for the wealthiest Americans, all while gutting critical programs and services used by everyday families. The bill is set to raise taxes on low-income households, slash federal Medicaid funding, and decimate middle-class opportunities,
Taxation
The Republican-led push for President Donald Trump's "One Big Beautiful Bill" to balloon the national debt and launch a historic assault on the social safety net hangs in the balance, with House Speaker Mike Johnson struggling to win over rebellious lawmakers. The bill, which was approved
Taxation
The recent Senate Republicans' 51-50 vote in favor of their partisan reconciliation bill, the "One Big Beautiful Bill Act," passed by Vice President Pence, has sparked widespread outrage among Democrats and advocates who argue that the bill's massive tax cuts for billionaires will come at
Taxation
The Lagos Chamber of Commerce and Industry (LCCI) has welcomed the Federal Government's enactment of four significant tax reform bills, aimed at promoting fiscal transparency and economic growth. The reforms, which unify Nigeria's fragmented tax laws and introduce digital and institutional upgrades, are expected to have
Taxation
A new domestic policy package proposed by the Republican party threatens to strip nearly 11.8 million adults and children of their health insurance, as it makes significant changes to Medicaid and the Affordable Care Act (ACA) to save $1 trillion over a decade. The proposed legislation, known as the
Taxation
A new Republican domestic policy package could result in nearly 11.8 million adults and children losing health insurance, due to changes in Medicaid and Obamacare enrollment over a decade. The plan aims to reduce Medicaid spending by $1 trillion by simplifying eligibility checks, verifying income more frequently, and imposing
Taxation
JD Vance, a rising star in the Republican Party and former senator, campaigned on economic populist ideas that included higher taxes on some businesses and increased support for families. However, his distinctive policy ideas have largely gone missing in the current tax legislation. The $3.3 trillion GOP tax bill,
Taxation
The Nigerian Economic Summit Group (NESG) has backed the '2025 Nigerian Tax Reform Acts', which aim to simplify the tax system and bring several benefits. The NESG, in its recent publication titled 'The 2025 Nigerian Tax Reform Acts: Taxing the Fruits, Not the Seed', outlined the
Taxation
The proposed $4 trillion bill would slash vital social safety net programs, cutting 20% of spending on food stamps and Medicaid, potentially leaving over 12 million people without health insurance. This could unleash a tidal wave of pain, including overcrowded emergency rooms, increased medical debt, and more folks going hungry.
Taxation
The Nigerian health sector has received significant boosts from the federal government's tax reform and increased allocation of resources in the 2025 budget. Coordinating Minister of Health and Social Welfare, Prof. Mohammed Ali Pate, has stated that the tax reform will increase government revenue, which will be used
Taxation
Senate Majority Leader John Thune said Republicans are nearing a deal to pass President Donald Trump's massive tax and immigration agenda, known as the One Big Beautiful Bill Act, despite growing opposition from within their own party. Despite a marathon 25-hour session, the GOP struggled to secure support
