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August 13, 2024 at 3:00 AM. Former President Donald Trump and Vice President Kamala Harris agree on one thing, at least: Both say they want to eliminate federal taxes on workers’ tips. But ...
American workers paid about $38 billion in taxes on tips in 2018, which is a small slice of the federal pie compared to the $7 trillion collected by the Internal Revenue Service that same year ...
Unlike Trump, Harris proposed pairing the elimination of federal taxes on tip income with a bump in the national minimum wage, which has been $7.25 an hour since 2009. Many tip earners, however ...
No tax on tips support from Harris comes nearly two months after pledge from Trump, who reacted on social media. LAS VEGAS (AP) — Vice President Kamala Harris promised Saturday to work to ...
Yale University's Budget Lab estimates there were about 4 million tip workers last year, most of them young. Of that group, 37% earned incomes low enough to not have to pay federal taxes at all in ...
Major parts of the Trump tax cuts expire at the end of 2025, and, if he's elected, Trump's idea about tips could land on the menu for policymakers looking to rewrite the tax code. Such a move ...
Biden is promising to end the Trump tax breaks for incomes above $400,000 while vowing not to raise taxes for those making less. “If Trump gets elected, he’ll cut taxes for him and his rich ...
The biggest piece of tax legislation passed during Donald Trump's presidency was the 2017 Tax Cuts ... at the end of 2025. If President Joe Biden defeats Trump in the 2024 election, he is unlikely ...