President Trump said on the weekend that he will be asking
the Republican controlled congress to speed up the U.S. tax code due to the
impact of Hurricane Irma. If they reduce taxes it could help businesses get
back on their feet faster than they normally could, hence could be beneficial to the states that are impacted by hurricane.
He said, “I think now, with what’s happened with the
hurricane, I’m going to ask for a speed up,” he said. “I wanted a speed up
anyway, but now we need it even more so. So we need to simplify the tax code,
reduce taxes very substantially on the middle class, and make our business tax
more globally competitive. We’re the highest anywhere in the world right now”.
http://www.cnn.com/2017/09/09/politics/trump-irma/index.html
To further this conversation, the IRS has given tax relief to those affected by Hurricane Harvey. This relief includes extensions on tax returns and certain tax payments to be made. They have moved the date from September to January 31, 2018. Also workers helping with the relief efforts will qualify for the tax extension.
ReplyDelete