Thomson Reuters Checkpoint Releases Special Report on the President’s Fiscal Year 2016 Budget

The FINANCIAL — Thomson Reuters Checkpoint has released a special report, President’s Fiscal Year 2016 Budget. The President’s budget contains a host of individual and business tax proposals. This report examines some of the budget’s highlights, including the President’s strategy to strengthen the middle class and help working families, according to Thomson Reuters.

Key areas of the report include:

Individual Taxation – Middle Class Relief and Simplification
Individual Taxation – Increase Taxes on the Wealthiest
Business Tax Incentives
Small Business Incentives
U.S. Taxation of International Activity

“Of course, with a Republican Congress in place, many of the tax provisions in the President’s budget, particularly those that raise taxes, will not become law,” said Jeffrey Pretsfelder, senior tax analyst with the Tax & Accounting business of Thomson Reuters and author of the report. “Nonetheless, the Budget reveals a host of middle-income tax priorities and showcases some sweeping tax changes.”