Tax

Congress and President Trump Are Spending Money and Cutting Taxes Like There Is No Tomorrow

Congress and President Trump Are Spending Money and Cutting Taxes Like There Is No Tomorrow

The House is voting this week on the committee’s bills to expand tax-advantaged Health Savings Accounts for mostly high-income households, allow people to take a medical expense deduction for gym memberships, and repeal an Affordable Care Act excise tax on medical device makers. Later on, it will vote on other committee-approved measures to postpone the ACA’s tax on high-cost employer sponsored health plans and suspend the tax penalties for employers that don’t offer adequate insurance to their workers.

How the online sales tax ruling will affect consumers

How the online sales tax ruling will affect consumers

As the U.S. tries to catch up with digital companies that operate without a physical presence, the ruling allowing states to tax e-commerce providers outside their state borders has created an extra hurdle for companies handling online transactions. The ruling may prompt Congress to introduce new legislation for an overhaul on unifying e-commerce for all 50 states.