Erik Wasson

Washington

Capitol Hill Reporter at Bloomberg News

I report on Congress for Bloomberg News @business Opinions are my own, RTs not endorsement. Send tips to ewasson at https://t.co/ctMfNnM5q0

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Articles

SALT cap for high earners in NY, NJ, CA gets outsized attention in Congress

6 days ago | nationalmortgagenews.com | Mathieu Benhamou |Erik Wasson

The state and local tax deduction — the subject of one of the most contentious fiscal fights in Congress — is a write-off that most Americans will never claim, even in the districts of the lawmakers fighting hardest to increase the tax break, data analyzed by Bloomberg News shows.
SALT cap for high earners gets outsize attention in Congress

1 week ago | accountingtoday.com | Mathieu Benhamou |Erik Wasson

The state and local tax deduction — the subject of one of the most contentious fiscal fights in Congress — is a write-off that most Americans will never claim, even in the districts of the lawmakers fighting hardest to increase the tax break, data analyzed by Bloomberg News shows.
Congress Is Prioritizing a Tax Break That Few Americans Will Claim

1 week ago | bloomberg.com | Mathieu Benhamou |Erik Wasson

Most taxpayers don’t have enough deductions from $10,000 in SALT, mortgage interest write-offs and charitable donation tax breaks to itemize. (Bloomberg) -- The state and local tax deduction — the subject of one of the most contentious fiscal fights in Congress — is a write-off that most Americans will never claim, even in the districts of the lawmakers fighting hardest to increase the tax break, data analyzed by Bloomberg News shows.
Congress Is Prioritizing SALT Break That Few Americans Claim

1 week ago | news.bloomberglaw.com | Mathieu Benhamou |Erik Wasson

The state and local tax deduction — the subject of one of the most contentious fiscal fights in Congress — is a write-off that most Americans will never claim, even in the districts of the lawmakers fighting hardest to increase the tax break, data analyzed by Bloomberg News shows.
SALT Cap For High Earners Gets Outsized Attention In Congress

1 week ago | fa-mag.com | Erik Wasson |Mathieu Benhamou

The state and local tax deduction — the subject of one of the most contentious fiscal fights in Congress — is a write-off that most Americans will never claim, even in the districts of the lawmakers fighting hardest to increase the tax break, data analyzed by Bloomberg News shows.
Trump targets NPR, PBS, foreign aid in $9 Billion spending cut

1 week ago | thedailynewsonline.com | Gregory Korte |Erik Wasson

WASHINGTON — The Trump administration will ask lawmakers to cut more than $9 billion in funding for the Public Broadcasting Service, National Public Radio and foreign aid in the current fiscal year, an attempt to employ a little-used legislative tactic for reducing spending already approved by Congress. The proposal — known as a rescission package — would codify cuts identified by President Donald Trump’s Department of Government Efficiency.
Trump targets NPR, PBS, foreign aid in $9 Billion spending cut

1 week ago | thelcn.com | Gregory Korte |Erik Wasson

WASHINGTON — The Trump administration will ask lawmakers to cut more than $9 billion in funding for the Public Broadcasting Service, National Public Radio and foreign aid in the current fiscal year, an attempt to employ a little-used legislative tactic for reducing spending already approved by Congress. The proposal — known as a rescission package — would codify cuts identified by President Donald Trump’s Department of Government Efficiency.
Millionaire Tax Hike Gains Steam as Trump Signals Openness

1 week ago | ca.finance.yahoo.com | Nancy Cook |Saleha Mohsin |Erik Wasson

(Bloomberg) -- Republicans in the White House, Senate and House are drafting analyses on how best to craft a new tax bracket for the wealthiest Americans, work that signals the GOP under President Donald Trump is seriously considering ideas to raise taxes on the rich. • None How Did This Suburb Figure Out Mass Transit?
Tax Deadline Day Comes With IRS Enforcement Shrinking

1 week ago | bloomberg.com | Joe Sobczyk |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. It’s Tax Day, and the big question on the minds of some analysts is whether the mass layoffs at the IRS instigated by Elon Musk’s Department of Government efficiency will end up costing the government more revenue than DOGE saves in total.
IRS Faces Tax Day With Staff Cuts Raising Cheating Concerns (1)

1 week ago | news.bloomberglaw.com | Erik Wasson |Carter Johnson

The conclusion of the tax filing season Tuesday is about to provide early clues toward resolving a nagging question hanging over the US Treasury: How honest will Americans be about their income when there are suddenly fewer auditors to check them? The answer has ramifications extending from Treasury debt markets already embroiled in tariff-related turmoil to legislative struggles in Washington over the debt ceiling and a proposed new round of tax cuts.