President Donald Trump promised everyday Americans a “giant tax cut for Christmas” in a speech that the White House billed as his closing argument for a tax overhaul that congressional Republicans finished negotiating on Wednesday.
A provision to treat graduate school tuition waivers as taxable income won’t be in the final House-Senate tax package, according to Republican Senator Steve Daines of Montana and one other person briefed on a tentative deal reached Wednesday.
U.S. commercial real estate is a likely winner in the evolving Republican tax overhaul, which is poised to lower rates for property owners, spur new investment and increase demand for rental housing, according to a new report.
The dearth of Republicans representing New York in Congress is partly to blame for the proposed eliminations of state and local tax deductions that will dramatically impact the state, said Jim Tisch, chief executive officer of Loews Corp.
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