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Trump seems open to lowering tariff rate on China – CBS News Watch CBS News Treasury Secretary Scott Bessent and U.S. Trade Representative Jamieson Greer are set to meet with Chinese officials for trade talks in Switzerland this weekend. Ahead of the meeting, President Trump seemed to suggest he’d be open to lowering the tariff rate on Chinese imports. CBS News’ Nikole Killion and Kelly O’Grady have more. Be the first to know Get browser notifications for breaking news, live events, and exclusive reporting. Not Now Turn On Source link

Representative Nicole Malliotakis said increasing the state and local tax deduction cap to $30,000 from $10,000 would reduce the tax burden of the vast majority of people in her district, indicating support for a proposal that is dividing Republicans.”Every member needs to advocate for the particular needs of their district. Tripling the deduction to $30,000 will provide much-needed relief for the middle-class and cover 98% of the families in my district,” Malliotakis, a Republican representing Staten Island, New York and a member of the House tax committee, said in a statement to Bloomberg News on Friday.Malliotakis’ nod of approval for…

House Republicans are considering increasing taxes on university endowments, a significant threat to some of the nation’s wealthiest schools as President Donald Trump seeks to tighten control over American higher education.The measure is in a draft of the tax package Republicans are weighing, according to people familiar with the matter who spoke on condition of anonymity to share details on the effort. The proposal would create a tiered system of taxation so that wealthy colleges and universities pay more as the size of their endowment grows, the people said. Republicans are considering boosting the 1.4% endowment tax currently on the books…

Trump floats idea of raising taxes on the rich – CBS News Watch CBS News In a post on social media, President Trump said he’d be open to raising taxes on rich people as part of negotiations over his “big beautiful bill.” CBS News’ Nikole Killion and Kelly O’Grady have the latest. Be the first to know Get browser notifications for breaking news, live events, and exclusive reporting. Not Now Turn On Source link