Latest news with #taxbreak
Bloomberg
a day ago
- Business
- Bloomberg
Wealthy Silicon Valley Investors In Line for $17 Billion Windfall in GOP Tax Bill
Silicon Valley's favorite tax break may be getting an upgrade. Venture capitalists, along with successful tech founders and early startup employees, already pay no taxes on billions of dollars of gains annually, thanks to a lucrative and complicated provision called Qualified Small Business Stock, or QSBS. Now the carve-out could get even more generous in changes included in Senate Republicans' proposed tax and spending bill moving through Congress.
Yahoo
2 days ago
- Business
- Yahoo
Elizabeth Warren Says The Tax Break For Mark Zuckerberg's Meta Is So Bountiful Under Trump's 'Big Beautiful Bill' That $35 Copay From Each American Won't Still Match It
On Tuesday, Sen. Elizabeth Warren (D-Mass.) slammed Meta Platforms, Inc.'s (NASDAQ:META) alleged tax windfalls under President Donald Trump's new legislative package, saying the benefits far outweigh what ordinary Americans could ever contribute. What Happened: Warren criticized a provision in Trump's "Big Beautiful Bill" that she says offers Meta a massive tax break. "If every one of the 340 million people in America paid a new $35 copay to visit the doctor, that still wouldn't be enough to cover how much Meta would get from just one tax break in Donald Trump's 'Big Beautiful Bill,'" she posted on X, formerly Twitter. Trending: Maker of the $60,000 foldable home has 3 factory buildings, 600+ houses built, and big plans to solve housing — The U.S. population is estimated at 342 million, according to the Census — a number that, as Warren pointed out, wouldn't be enough to offset the tax break given to Mark Zuckerberg's company under the 'Big Beautiful Bill.'Warren and Meta did not immediately respond to Benzinga's request for It's Important: Earlier this month, Warren slammed the "One Big Beautiful Bill Act," warning it could cause 16 million Americans to lose health coverage and add $2.4 trillion to the national debt. Citing Congressional Budget Office estimates, Warren said the bill disproportionately benefits billionaires like Jeff Bezos and Mark Zuckerberg at the expense of everyday Americans. Warren has also opposed a provision in the bill that would prevent states from regulating artificial intelligence for 10 years. She argued this could lead to higher rents by protecting companies like RealPage. Representative Marjorie Taylor Greene has also criticized the measure. Bezos and Zuckerberg's Meta have each contributed $1 million to Trump's Jan. 20 inauguration. Read Next: Invest early in CancerVax's breakthrough tech aiming to disrupt a $231B market. Back a bold new approach to cancer treatment with high-growth potential. These five entrepreneurs are worth $223 billion – they all believe in one platform that offers a 7-9% target yield with monthly dividends Photo courtesy: Sheila Fitzgerald / UNLOCKED: 5 NEW TRADES EVERY WEEK. Click now to get top trade ideas daily, plus unlimited access to cutting-edge tools and strategies to gain an edge in the markets. Get the latest stock analysis from Benzinga? This article Elizabeth Warren Says The Tax Break For Mark Zuckerberg's Meta Is So Bountiful Under Trump's 'Big Beautiful Bill' That $35 Copay From Each American Won't Still Match It originally appeared on
Yahoo
2 days ago
- Business
- Yahoo
Elizabeth Warren Says The Tax Break For Mark Zuckerberg's Meta Is So Bountiful Under Trump's 'Big Beautiful Bill' That $35 Copay From Each American Won't Still Match It
On Tuesday, Sen. Elizabeth Warren (D-Mass.) slammed Meta Platforms, Inc.'s (NASDAQ:META) alleged tax windfalls under President Donald Trump's new legislative package, saying the benefits far outweigh what ordinary Americans could ever contribute. What Happened: Warren criticized a provision in Trump's "Big Beautiful Bill" that she says offers Meta a massive tax break. "If every one of the 340 million people in America paid a new $35 copay to visit the doctor, that still wouldn't be enough to cover how much Meta would get from just one tax break in Donald Trump's 'Big Beautiful Bill,'" she posted on X, formerly Twitter. Trending: Maker of the $60,000 foldable home has 3 factory buildings, 600+ houses built, and big plans to solve housing — The U.S. population is estimated at 342 million, according to the Census — a number that, as Warren pointed out, wouldn't be enough to offset the tax break given to Mark Zuckerberg's company under the 'Big Beautiful Bill.'Warren and Meta did not immediately respond to Benzinga's request for It's Important: Earlier this month, Warren slammed the "One Big Beautiful Bill Act," warning it could cause 16 million Americans to lose health coverage and add $2.4 trillion to the national debt. Citing Congressional Budget Office estimates, Warren said the bill disproportionately benefits billionaires like Jeff Bezos and Mark Zuckerberg at the expense of everyday Americans. Warren has also opposed a provision in the bill that would prevent states from regulating artificial intelligence for 10 years. She argued this could lead to higher rents by protecting companies like RealPage. Representative Marjorie Taylor Greene has also criticized the measure. Bezos and Zuckerberg's Meta have each contributed $1 million to Trump's Jan. 20 inauguration. Read Next: Invest early in CancerVax's breakthrough tech aiming to disrupt a $231B market. Back a bold new approach to cancer treatment with high-growth potential. These five entrepreneurs are worth $223 billion – they all believe in one platform that offers a 7-9% target yield with monthly dividends Photo courtesy: Sheila Fitzgerald / UNLOCKED: 5 NEW TRADES EVERY WEEK. Click now to get top trade ideas daily, plus unlimited access to cutting-edge tools and strategies to gain an edge in the markets. Get the latest stock analysis from Benzinga? This article Elizabeth Warren Says The Tax Break For Mark Zuckerberg's Meta Is So Bountiful Under Trump's 'Big Beautiful Bill' That $35 Copay From Each American Won't Still Match It originally appeared on Sign in to access your portfolio
Wall Street Journal
6 days ago
- Business
- Wall Street Journal
The Tax Bill Would Deliver a Big Win for Private Schools—and Investors
Republicans' tax-and-spending megabill would give the school-choice movement a major, long-sought victory—and deliver an unusually generous tax break to wealthy taxpayers. The bill includes a new way for taxpayers—whether they are parents or not—to direct tax dollars to private-school scholarships instead of the Treasury. There is an extra twist: It could deliver virtually risk-free profits to some savvy investors.
The Independent
20-06-2025
- Business
- The Independent
Senate version of Trump's Big Beautiful Bill holds ‘'unexpected' tax break up to $2,000 for nearly all Americans
The Senate version of President Donald Trump's 'One Big, Beautiful Bill' legislation includes a tax break that would benefit 90 percent of Americans, CNBC reported. The Senate Finance Committee released the text for the tax and health care aspects of the Senate's version of the bill that passed the House of Representatives last month. The House version allows people who do not itemize their taxes to deduct $150 for individuals and $300 for joint filers like married couples. But the Senate version would allow $1,000 for single filers and $2,000 for joint filers. Typically, people need to choose to itemize their taxes to receive the charitable contribution deduction. The rare exception came during the Covid-19 pandemic. But 9 out of 10 Americans use the standard deduction, meaning the $2,000 tax break could come to most Americans. 'This could provide some tax savings for folks,' Erica York of the Tax Foundation, a conservative think tank, told CNBC. 'That could be something unexpected if you're not currently deducting charitable giving.' The Senate is currently debating its version of the 'One Big, Beautiful Bill,' as Trump requested Republicans to name it. In addition to the charitable deduction, Republicans hope to extend the 2017 tax cuts that Trump signed during his first tenure in the White House, boost up money for the military, military spending and oil production in the United States. But Republicans remain split on a number of aspects of the bill, including its changes to Medicaid. Fiscal conservatives also say that the bill does not do enough to slash federal spending. Earlier this week, the nonpartisan Congressional Budget Office released its dynamic estimate and it found that it would increase the deficit by $3.4 trillion. Other Republicans want to keep the renewable energy tax credits that then-President Joe Biden put into place in the 2022 Inflation Reduction Act because many Republican states benefited from the law. Republicans have only 53 seats in the Senate. To sidestep a filibuster, they plan to use a process called budget reconciliation, which allows them to pass legislation with a simple majority as long as it relates to federal spending and taxes. Currently, the legislation is undergoing the 'Byrd Bath,' wherein Senate Parliamentarian Elizabeth MacDonough, a career Senate employee, evaluates whether the legislation follows the rules of budget reconciliation and none of the parts of the bill are 'merely incidental' to the budget.
