While such a proposal sounds equitable in theory, it would be politically unpopular.
While the tax appears small, it’s added on top of existing costs, which can drive up the price of sending money.
Lower-income taxpayers will be able to deduct contributions for the first time, but there are new limits on higher-income taxpayers’ deductions.
The wealthiest pay a large portion of taxes, but they would be paying even more without tax loopholes and deductions.
States differ on whether to conform to HR-1, leaving taxpayers with a patchwork of rules depending on where they live.
Tax breaks and extensions will add trillions to the national debt, which currently stands at $38 trillion.
Or at least talking about it.
Due to a temporary change in the law, student loan forgiveness is not considered federally taxable income. State tax laws vary, though.
Lawmakers have a lot of ideas … can they make any of them a reality?
Here's what you told us.
