Tag Archives: Deductions and Exemptions

Over the past two decades, more than 5 million U.S. households from California to Georgia to Maine have put solar panels on their roofs, drawing energy from the sun and reducing their electric bills. But that could soon come to a crashing halt. The big domestic policy bill passed by House Republicans last month would, by the end of this …

At least 24 factories have been set up in the United States to produce electric cars that qualify for the credit, including a Ford plant making plug-in hybrids in Louisville, Ky., and a General Motors battery plant in Ohio, according to a study from Atlas Public Policy, a research firm. Near Savannah, Ga., Hyundai invested in a $7.5 billion factory …

Gerhard Randers-Pehrson, an 81-year-old resident of Ossining, N.Y., believes the $10,000 cap should go up — but not too much. While Mr. Randers-Pehrson, a retired research scientist, said he paid $16,000 in state and local taxes last year, he does not expect to personally benefit from a higher cap. He would take the standard deduction instead of itemizing. But the …

For the last several months, Ken Harvey has been cultivating a budding side business for his Honda and Mazda dealerships in Northern California: selling used Teslas. A few times a month, Mr. Harvey picks up a few pre-owned Teslas at a local automobile auction and offers them for sale, often at surprisingly affordable prices, thanks to a $4,000 federal tax …

The Republican Party embarked this week on a haphazard experiment in economic policymaking, wagering that the United States can weather a monumental tax increase in the form of broad tariffs on imported goods as long as Congress also cuts taxes on income. It’s a mash-up that many investors, economists and even some G.O.P. lawmakers expect to be a failure. “I …

American manufacturing has been in the doldrums for years, battered by high borrowing costs and a strong dollar, which makes exports less competitive. But there has been a bright spot: billions of dollars flowing into factory construction, signifying that a potential rebound in production and employment is around the corner. The flood of investment has been driven by two major …

In less than three weeks, President Trump has thrown the U.S. clean energy industry into chaos, with much of the economic damage hitting Republican states and districts. In a quest to eliminate any funding linked to climate change, the Trump administration has frozen federal grants for everything from battery factories to electric school buses and issued executive orders that have …

Daniel Werfel, the commissioner of the Internal Revenue Service, told the agency’s employees that he would end his term early and step down on Monday as President-elect Donald J. Trump takes office. Mr. Trump has said he plans to nominate Billy Long, a former Republican congressman, to the role. Past presidents have treated the tax collector’s leader as a nonpartisan …

Seven years ago, when Republicans passed the most significant overhaul of the tax code in a generation, they were sure the law would supercharge investment, raise wages and shift the American economy into a higher gear. So did it? The answer, at least for now, is largely lost to history. A pandemic and a surge in inflation convulsed the global …

The Biden administration on Friday made final its long-awaited plan to offer billions of dollars in tax credits to companies that make hydrogen, in the hopes of building up a new industry that might help fight climate change. When burned, hydrogen mainly emits water vapor, and it could be used instead of fossil fuels to make steel or fertilizer or …