Tax Reform

Nick Evans / WOSU

Housing and Urban Development Secretary Ben Carson toured Lakeisha Terry’s home in the Milo Grogan neighborhood on Friday morning. She showed off the backyard with new sod, the garage, and her two boys’ bedroom—with wall decals of their names above their beds. 

The IRS is planning to unveil a new tax return form — as soon as Friday — that is the size of a large postcard.

It's been touted as a way to simplify tax filing and is something President Trump pushed congressional Republicans to come up with. Treasury Secretary Steven Mnuchin said the document "will be a postcard, as we've promised, and hard-working taxpayers won't have to spend as much time filling out their taxes."

Sounds good, right? Imagine, filing your taxes on a postcard. What could be easier?

Over the weekend, President Trump made his second visit to Northeast Ohio in less than two months. While in Cleveland, he met with Republican donors, talked about tax cuts passed last year, and endorsed Republican Senate hopeful Jim Renacci.

Annie Wu / ideastream

Ivanka Trump visited Rocky River in Northeast Ohio on Friday. In front of an invitation-only crowd made up largely of small business owners, she promoted the Republican tax reform law ahead of the midterm primary election.

Adrian Ma / ideastream

Vice President Mike Pence stopped in Cleveland on Friday to sell Ohioans on the benefits of the GOP tax overhaul.

Evan Vucci / Associated Press

President Donald Trump came to the Cincinnati suburb of Blue Ash on Monday to tout the Republican tax reform bill he signed into law and boast that it is already paying dividends for American workers and companies.

Bill Rinehart / WVXU

President Donald Trump will pay a visit to Cincinnati on Monday. He'll be going to Sheffer Corp., a Blue Ash manufacturing company that makes industrial cylinders.

Tucked into the new tax law is a provision that offers companies a tax credit if they provide paid family and medical leave for their lower-wage workers.

Many people support a national strategy for paid parental and family leave, especially for workers who are not in management and are less likely to get that benefit on the job. But consultants, scholars and consumer advocates alike say the new tax credit probably won't encourage many companies to take the plunge.

In this new year, beer brewers are enjoying a temporary excise tax break that was signed into federal law as 2017 was winding down.

While the tax reform law will provide tax cuts to Ohioans, those cuts may not provide the boost needed for future economic growth. Ohio State University economist Mark Partridge says Ohio's manufacturers may see some benefit, but investment in workers will do more.

Esther Honig

The Franklin County treasurer's office has seen an unusual amount of traffic in the last two weeks, and that has a lot to do with the recent Republican tax overhaul.

Ohio U.S. Sentators Rob Portman, left, and Sherrod Brown.
Ideastream

The U.S. House and Senate have passed the most sweeping tax overhaul in decades, with the bill splitting down party lines. Democratic U.S. Senator Sherrod Brown contends that this only benefits the rich, while his Republican counterpart Rob Portman argues that this can help pay down the deficit in the long run.

Updated on Dec. 22 on 12:02 p.m. ET

Congressional Republicans delivered on their first major legislative accomplishment of the Trump era on Wednesday, when the House voted 224-201 to pass a $1.5 trillion tax package. The bill cuts individual rates for eight years and slashes the top corporate tax rate to 21 percent permanently.

Graduate students nationwide can breathe a sigh of relief: Their tuition waivers won't be taxed after all.

A provision in the Republican House tax plan had originally proposed taxing grad students' tuition waivers as income. It was a controversial proposal and sent a wave of anxiety across campuses, leading to protests at dozens of universities.

Updated at 6:25 p.m. ET

Congressional Republicans released a final draft of their tax bill Friday. With newfound support from two wavering senators, lawmakers appear to be on track to pass the measure and deliver it to President Trump for his signature by Christmas.

Votes in the House and Senate are expected next week.

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