WASHINGTON — A Congress riven along party lines approved a landmark $1.9 trillion COVID-19 relief bill Wednesday, as President Joe Biden and Democrats claimed a triumph on a bill that
The Centre had earlier proposed a new tax regime with more tax slabs and lower tax rates for taxpayers who agree to forego all deductions and exemptions available to them in the old tax regime.
WASHINGTON (AP) — The Senate approved a sweeping pandemic relief package over Republican opposition on Saturday, moving President Joe Biden closer to a milestone political victory that would provide $1,400
The state legislature has approved a shift in the way municipalities are reimbursed for tax-exempt properties and New London stands to be one of the major
None of the above as it turned out.
For those for whom some or all of the above were significant concerns, a freezing of personal tax allowances and bands will have been viewed as the least of all possible evils.
Without seeking to minimise the significant implications for households of freezing tax allowances and bands through to 2026, that is still quite some way short of the ‘tax armageddon’ anticipated by some.
So, can we all relax?
That depends upon the degree of success of the measures announced by the chancellor to fill the hole in the public finances – and the race against time to do that before interest rates move against us and increase the cost of carrying that record deficit.