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TaxWatch
Amid the debate on ‘U.S. exceptionalism,’ the tax bill is trying to make the case that American markets remain the best place to grow money, one expert says
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The Republican tax and spending bill is big and expensive, but investors seeking their own new tax breaks may feel underwhelmed by its offerings.
The megabill, now under consideration by the Senate, would extend the 2017 Trump tax cuts and provide an array of additional tax write-offs: tipped employees and workers with overtime pay would get a new deduction for several years; certain consumers buying domestic cars would get a tax break, as would low- and moderate-income senior citizens; and for now, homeowners could take advantage of a write-off on their state and local taxes that’s four times higher than the current level.
