A Republican who will soon step down as chairman of the U.S. House of Representatives tax committee late on Monday released a sweeping, nearly 300-page tax bill that he said would affect Americans’ retirement savings, numerous business tax breaks and redesign the Internal Revenue Service. Representative Kevin Brady, chairman of the House Ways and Means Committee only until early January, shepherded through the House and onto President Donald Trump’s desk in 2017 a large tax …
The release of the National Climate Assessment this year and the recent formation of the new bi-partisan, pro-business advocacy group Americans for Carbon Dividends have given new life to promoting a carbon tax as the best approach to reducing carbon dioxide emissions. Climate change activists will endorse any policy that they believe will reduce fossil fuel use. But others should be cautious in embracing a complicated and unnecessary tax scheme.
With some year-end planning, you may still find it worthwhile to file an itemized return to lower your 2018 tax bill.