Page 3 - aruba-today-20171111
P. 3

A3
                                                                                                 U.S. NEWS Saturday 11 November 2017


















            Tax split between House, Senate poses a big challenge



            By ANDREW TAYLOR                                                                                                    Senate  version  doubles
            MARCY GORDON                                                                                                        those  exemption  amounts
            Associated Press                                                                                                    —  but  doesn’t  repeal  the
            WASHINGTON  (AP)  —  The                                                                                            tax.
            House  and  Senate  tax                                                                                             To repeal or not to repeal?
            overhaul plans are broadly                                                                                          That may be the class-war-
            similar,  but  crucial  differ-                                                                                     fare question.
            ences  are  creating  head-                                                                                         The Senate bill would elimi-
            aches for Republican lead-                                                                                          nate a taxpayer’s ability to
            ers  determined  to  keep                                                                                           deduct state income taxes
            myriad    interest   groups                                                                                         and  local  property  taxes.
            and  factions  of  the  GOP                                                                                         But  the  final  bill  may  have
            satisfied.  And  then  there’s                                                                                      to  closely  track  a  House
            the  ambitious  timetable                                                                                           compromise  that  provides
            they’ve  set  of  finishing  in                                                                                     a  property  tax  deduction
            time  to  get  legislation  to                                                                                      of up to $10,000 or else risk
            President Donald Trump by                                                                                           a revolt from GOP lawmak-
            Christmas.                                                                                                          ers from New York, New Jer-
            The  most  politically  chal-                                                                                       sey, and California.
            lenging  decisions  involve                                                                                         The  Senate  bill  preserves
            dealing  with  popular  and                                                                                         popular    individual   tax
            widely  used  tax  deduc-                                                                                           breaks  for  large  medical
            tions,  structuring  tax  cuts                                                                                      expenses,  mortgage  inter-
            for business and balancing   Speaker  of  the  House  Paul  Ryan,  R-Wis.,  meets  with  reporters  as  he  encourages  support  for   est,  electric  vehicles  and
            personal  income  tax  rates   Republican tax reform legislation, on Capitol Hill in Washington.   (AP Photo/J. Scott Applewhite)  college  costs  that  were
            between       middle-class   system.  It  shrinks  the  num-  multimillion  dollar  estates,  Currently,  when  someone   targeted by the House. The
            families and the rich.       ber of brackets from seven  called the estate tax, is an  dies,  the  person  inheriting   House limits deductibility of
            All of these decisions come   to four, with rates of 12, 25,  especially hot-button issue.  the  estate  must  pay  taxes   mortgage  interest  to  the
            against a generous — but     35 and 39.6 percent.         Democrats  point  to  the  on its value above $5.5 mil-   first $500,000 of a loan, riling
            firm  —  10-year,  $1.5  trillion   Lots  of  numbers  here  for  proposed GOP changes as  lion for individuals, $11 mil-  the real estate and housing
            cap on the measure’s cost    congressional  negotiators  proof that the Republicans  lion for couples. The House    industries, and eliminates a
            to the federal deficit. Both   to play with, to move up or  are  out  to  help  wealthy  bill  initially  doubles  those   deduction  for  medical  ex-
            House  and  Senate  have     down.                        people  like  Trump  and  his  limits and then repeals the   penses  that’s  often  taken
            adopted accounting gim-      The  inheritance  tax  on  family.                        whole  tax  after  2023.  The   by families facing crippling
            micks  to  squeeze  tax  cuts                                                                                       nursing home costs. q
            that  appear  larger  down
            Trump’s  enormously  ex- Supreme Court takes a technological step forward
            to fit that restraint.

            pensive demand for a cut
            in the corporate tax rate to   By MARK SHERMAN            tem does charge fees.        are routinely sent on paper,  and  posts  many  of  them,
            20 percent — from the cur-   Associated Press             “Though    the    Supreme  definitely not by email.       along with opinions.
            rent 35 percent — is a big   WASHINGTON (AP) — Sure-      Court  has  moved  glacially  Chief  Justice  John  Roberts  The  Justice  Department
            complication,  as  is  unrest   ly  but  slowly,  the  Supreme  to  join  the  rest  of  the  judi-  himself  noted  a  few  years  has an easily accessible ar-
            among House Republicans      Court  is  entering  the  21st  ciary  in  permitting  online  back  that  the  court  stuck  chive  of  its  extensive  high
            hailing from affluent subur-  century.                    filing, that’s better than not  with  pneumatic  tubes  to  court  filings  on  its  website,
            ban districts who are upset   The court is making new le-  at  all,  and  the  institution  transmit  newly  released  and  the  American  Bar  As-
            over  the  proposed  loss  of   gal  filings  available  online  should be commended for  opinions  from  the  court-  sociation posts briefs in the
            the deduction for state in-  starting Monday, years be-   creating  an  e-filing  system  room  to  reporters  waiting  70  to  80  cases  the  court
            come taxes.                  hind the rest of the federal  that,  unlike  PACER,  will  be  one  floor  below  until  1971,  agrees to hear each term.
            The Senate measure keeps     court system.                free  and  easily  accessible  long after their heyday.   But  the  public  may  not
            the current number of per-   Can livestreamed audio of  to  the  public,”  said  Gabe  Roberts said that it’s appro-  know  to  look  elsewhere.
            sonal income tax brackets,   arguments  and  even  tele-  Roth, executive director of  priate for courts “to be late  When  the  justices  issued
            seven,  though  it  changes   vised  sessions  be  far  be-  Fix the Court.            to the harvest of American  their highly anticipated de-
            the rates to 10, 12, 22.5, 25,   hind? Yes, they can.     Over  the  years,  the  jus-  ingenuity”  because  their  cision  upholding  President
            32.5, 35 and 38.5 percent.   But  advocates  of  court  tices  have  at  times  shown  primary role is to resolve dis-  Barack  Obama’s  health
            That  last  top  bracket  for   openness  will  take  what  a  glancing  familiarity  with  putes fairly.           care  overhaul  in  2012,  the
            the wealthiest earners car-  they  can  get  for  now,  technology.                    Many Supreme Court legal  court’s  website  was  over-
            ries  a  higher  rate  of  39.6   especially  because  the  Some carry computer tab-   briefs already are available  whelmed.
            percent under current law.   Supreme  Court  will  not  lets  with  high  court  briefs  online  and  for  free  from  It,  too,  has  recently  been
            The House bill goes further   charge for documents. The  loaded on them.               several sources.             overhauled  to  make  it
            toward  simplifying  the  tax   federal  courts’  PACER  sys-  But notes between justices  Scotusblog.com   obtains  friendlier to the public.q
   1   2   3   4   5   6   7   8