Erik Wasson

This is Washington Edition, the newsletter about money, power and politics in the nation’s capital. Today, congressional correspondent Erik Wasson looks at the potential impact of cuts at the IRS. Sign up here and follow us at @bpolitics. Email our editors here.

Data shows that even in wealthy congressional districts, the average person isn’t much affected by the state and local tax deduction lawmakers are trying to boost.

April 17, 2025 The state and local tax deduction — the subject of one of the most contentious fiscal fights in Congress — is a write-off

Republicans are on track to raise the $10,000 cap on the state and local tax deduction.

A Republican proposal to impose a tax hike on millionaires offers to generate about $400 billion over a decade, according to two new estimates provided to Bloomberg News, providing fresh revenue to partially offset the cost of the party’s multi-trillion-dollar tax package.

April 21, 2025 A Republican proposal to impose a tax hike on millionaires offers to generate about $400 billion over a decade, according to

A Republican proposal to impose a tax hike on millionaires offers to generate about $400 billion over a decade, according to two new estimates

WASHINGTON — A Republican proposal to impose a tax hike on millionaires offers to generate about $400 billion over a decade, according to two new

Ein republikanischer Vorschlag zur Erhöhung der Steuern für Millionäre könnte den USA über einen Zeitraum von zehn Jahren rund 400 Milliarden Dollar (348 Milliarden Euro) einbringen, so neue Schätzungen, die Bloomberg vorliegen. Diese Mehreinnahmen könnten dazu beitragen, die Kosten des mehrere Billionen Dollar schweren Steuerpakets der Partei gegenzufinanzieren.