H.R. 1, the One Big Beautiful Bill Act (OBBBA) permanently extended the tax cuts from the Tax Cuts and Jobs Act of 2017 (TCJA), which were set to expire by the end of 2025. The OBBBA also included both new and expanded tax deductions and credits designed to improve the lives of working American families. […]
Concerns over economic inequality and concentration of wealth, costly healthcare and education, lack of affordable housing, social injustice, along with a dislike of capitalism, have led to a resurgence of support for socialist policies. While there is no harm in intellectual curiosity, socialism will not improve affordability, because someone will still need to pay for […]
Welcome to This Week in Waste, a series by Citizens Against Government Waste (CAGW) that highlights how taxpayer dollars are being wasted in the federal, state, and local levels of government and efforts to fight back against this spendthrift behavior. Celebrating Small Businesses During the National Small Business Week As the nation’s 250th birthday is being […]
As the nation’s 250th birthday is being celebrated, the Working Families Tax Cuts (WFTC) deserves special recognition for expanding opportunities to live the American Dream by protecting entrepreneurs and small businesses from excessive taxation and burdensome regulations. Following closely after Tax Day, National Small Business Week, from May 3–9, 2026, serves as a great reminder […]
The Missouri General Assembly has taken a crucial step in the process to amend the Missouri Constitution by phasing out the state income tax and increasing the sales tax. On April 21, 2026, the Missouri House of Representative passed HJR 173 by a vote of 95 to 59. The process in the House started with […]
President Donald Trump has delivered on his campaign promise to eliminate taxes on tips. On July 4, 2025, he signed into law H.R. 1, the Working Families Tax Cuts (WFTC) package, which includes a provision allowing qualified individuals to deduct tips from their income for tax purposes. This deduction is capped at $25,000 and phases […]
The certainty of death and taxes brings a double blow to grieving families and at the worst possible time. And those troubling circumstances would be much worse if the Working Families Tax Cuts (WFTC) had not saved the death tax exemption from being cut in half on December 31, 2025. Thanks to President Trump and […]
Eliminating taxes on overtime pay in the One Big Beautiful Bill Act (OBBA) fulfills one of President Trump’s campaign promises. Individuals with hourly or non-professional jobs or earning an annual salary income less than $35,568, will be able to file for a federal income tax deduction capped at $12,500 for single filers and $25,000 for […]
During the Covid-19 pandemic, Congress enacted several laws intended to provide relief for businesses and individual, including the Coronavirus Aid, Relief, and Economic Security (CARES) Act of 2020 and the American Rescue Plan Act of 2021 (ARPA). The CARES Act included an Employee Retention Tax Credit (ERC) for businesses and tax-exempt organizations that paid wages […]
In 1995, the House of Representatives passed a Balanced Budget Amendment (BBA) to the Constitution, but it failed in the Senate by a single vote. The budget deficit in fiscal year (FY) 1995 was $164 billion. It is now $38.7 trillion. On February 11, 2026, the Congressional Budget Office (CBO) released its budget outlook for […]
