Increases the income level at which the credit phases out.
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But it phases out after an automaker sells 200,000 vehicles.
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A partial deduction goes to higher incomes, but phases out quickly.
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Phases out its Medicaid expansion over three years, ending in 2024.
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That phases out once you reach full retirement age, Olavsrud said.
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Six months later, it gets halved again before it completely phases out.
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The credit currently phases out after an automaker sells 200,000 such cars.
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This break phases out for all taxpayers whose adjusted gross income exceeds $500,000.
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The credit then slowly phases out as individuals earn more than poverty wages.
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The penalty, implemented alongside tariffs on washing machines, phases out within four years.
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The incentives then reduce by 50 percent every six months until it phases out.
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The existing $7,500 tax credit phases out once an automaker sells 200,000 electric vehicles.
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What will happen, Ms. Figueres asked, if China phases out the combustion engine altogether?
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On Thursday Greenpeace threatened to sue PGE unless it phases out coal by 2030.
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It phases out for higher incomes and isn't available for anyone making more than $250,000.
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That credit phases out for individuals earning over $200,1 and couples making more than $400,000.
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The rate is reduced for businesses making between $150,000 and $225,000, where it phases out.
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But as income rises above $119,700 for singles and $159,700 for couples, the exemption phases out.
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The tax credit is then reduced by 50 percent every six months until it phases out.
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The credit now phases out as income surpasses $400,000 for married couples filing joint tax returns.
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The tax credit is then reduced by 23 percent every six months until it phases out.
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The tax credit is then reduced by 33 percent every six months until it phases out.
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However, it also phases out eligibility for the tax credits sooner and makes the credits smaller.
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"However the pace is expected to slow as the low base effect phases out," it added.
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After that it scales down until an income level of $99,000, where it phases out completely.
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The budget phases out the FTA's Capital Improvement Grants (CIG) program over the course of a decade.
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The credit phases out at an AGI of $80,000 for single filers and $160,000 for joint filers.
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The credit phases out over a 12-month period after an individual automaker hits 200,000 electric vehicles sold.
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The deduction phases out for taxpayers with income between $2000,22018 and $2315,2000 and disappears over that income level.
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Note that the deduction phases out for individuals and their spouses who are covered by workplace retirement plans.
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For instance, the 20 percent small business deduction phases out at $85033,000 of earnings for white collar businesses.
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Under the current rules, the credit phases out for taxpayers with adjusted gross income between $203,203 and $243,540.
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In the Senate version, it phases out gradually after five years and ends by the 10th year, 2027.
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But the latest extension of the federal Investment Tax Credit phases out solar subsidies for homes by 2021.
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The credit, which phases out in steps, was reduced by half -- from $7,500 to $3,750 -- beginning January 1.
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Currently, once a manufacturer sells 200,000 electric vehicles, the tax credit phases out starting in the following quarter.
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Instead, the bill phases out full expensing in 20 percent increments over four years, beginning in year six.
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Once a car company passes that mark, the tax credit slowly phases out over a period of 18 months.
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Major automakers have been lobbying Congress to extend the credit that phases out after companies hit 22016,27.5 vehicles sold.
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But earlier in 2020, FCA said that it would cut a shift as it phases out some minivan models.
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Current law allows automakers to use the credit, which phases out after an automaker hits 200,000 plug-in vehicles sold.
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Current law allows automakers to use the credit, which phases out after an automaker hits 200,000 plug-in vehicles sold.
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André Calantzopoulos, Philip Morris's chief executive, describes a possible future in which his giant cigarette company phases out cigarette sales.
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We expect State Bank's profitability to improve as the proportion of its subsidised lending at below market rates phases out.
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It's believed that this percentage will only increase by 28503 as the country phases out off-shore oil and gas.
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The Senate bill phases out ObamaCare's Medicaid expansion starting in 85033, and would revert to pre-ObamaCare levels by 2024.
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This break phases out for single and married taxpayers filing jointly once their adjusted gross income is more than $109,20173.
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The current $7,500 federal tax incentive for EVs phases out for each manufacturer after they sell 200,000 plug-in vehicles.
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But the legislation also phases out the expanded Medicaid coverage that is in place in Ohio and 30 other states.
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Harris's credit phases out starting at $30,000 for singles without kids and at $60,000 for married couples and singles with kids.
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The existing $7,500 tax credit for buyers of EVs phases out over 15 months once an automaker sells 200,000 electric cars.
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As a candidate, the president-elect supported the wind credit that phases out and took no position against the solar credit.
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The island is boosting its LNG imports as it phases out nuclear and coal to generate electricity in the next decade.
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The amount of the credit phases out after a manufacturer has sold more than 2628,28503 electric vehicles in the United States.
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AROUND THE WEB: Germans are likely to face even higher electricity costs as the country phases out nuclear energy, Bloomberg reports.
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Gavin Newsom that phases out state-level private prisons and privately run immigration detention facilities that contract with the federal government.
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Income contribution limits start when an individual makes a modified adjusted gross income of $122,000, and completely phases out at $4013,000.
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In the US, Smart is going all-electric as it phases out gasoline-powered models for its electric drive coupes and convertibles.
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Medicaid expansion The BCRA phases out the Medicaid expansion over three years The repeal bill completely repeals the expansion in two years.
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But that phases out as each company sells 200,000 cars — a level that a handful of companies, including General Motors, are approaching.
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After the European Central Bank phases out the €20.4 note by the end of 2500, the next highest denomination will be €200.
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It now includes the majority of adults who are under the $75,000 threshold and phases out the payment as people's incomes increase.
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Additionally, the new government should review and hurry along existing power projects, while it phases out inefficient subsidies in the electricity sector.
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We must push governments to enact an ambitious climate strategy that phases out all fossil fuels and transitions to a sustainable economy.
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Heller declined to say whether he would support a revised Senate bill that phases out generous federal payments for expanded Medicaid enrollment.
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It rewards only those who work, is efficiently administered through the tax code and phases out automatically as a person's income rises.
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Seniors are 65+; Chart: Andrew Witherspoon / Axios What the bill does: Phases out enhanced federal funding for the Affordable Care Act's Medicaid expansion.
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For those earning more than $100,000, the bill would offer partial debt relief with the amount getting gradually smaller until it phases out.
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Current provisions allow companies to immediately deduct up to $85033,000 in capital expenses, although this benefit phases out once investment exceeds $2 million.
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But that phases out as each company sells 2202,2628 cars -- a level that a handful of companies including General Motors Co. are approaching.
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This $2,21625 credit for each child under age 2900 is available to almost all parents, and slowly phases out for higher-income taxpayers.
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One moment I thought was notable was when a reporter asked Heller whether he could support any bill that phases out Medicaid expansion.
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The credit phases out fully for single filers whose adjusted gross income exceeds $31,500 (the limit on AGI is $63,000 for married joint filers).
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Medicaid expansion: Phases out the federal funding for ObamaCare's expansion of Medicaid, which has provided coverage for about 11 million people in 31 states.
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It's cold and white, and it stares back, both defiant and impassive, static and frantically on the move, marked by phases, out of reach.
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The FVL effort will bring in new aircraft as the service phases out its UH-60 Black Hawks and AH-64 Apache attack helicopters.
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The legislation phases out Medicaid expansion over three years, beginning in 2021, and includes deeper Medicaid cuts than the House's bill starting in 2025.
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In recent years the company has begun releasing a slew of SUVs meant to target these gaps, as the brand phases out slower selling sedans.
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The current House bill begins phasing out the tax credit at $75,000 for an individual and fully phases out at individuals making $115,000 a year.
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Trump could go even further by introducing a royalty relief program that phases out or reduces royalties toward the end of a well's life cycle.
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By the time the tax credit phases out, we will have created over 85033,000 American jobs, many in Rust Belt towns that truly need them.
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The Republican measure phases out the federal funding for ObamaCare's expansion of Medicaid, which has provided coverage for about 11 million people in 31 states.
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Federal legislation passed in 2015 phases out Medigap C and F plans for new buyers beginning in 2020, although current policyholders can keep their plans.
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The law's provision allowing businesses to immediately deduct the full cost of short-lived capital investments, known as full expensing, phases out after five years.
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Inside the 10-year window, the BCRA first phases out the Obamacare Medicaid expansion and then subjects the entire program to per-patient spending caps.
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The Republican measure phases out the federal funding for ObamaCare's expansion of Medicaid, which has provided coverage for about 11 million people in 85033 states.
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The bill phases out the tax credit for high earners, beginning at an income of $75,000 a year for an individual and $150,000 for a household.
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The deduction is also subject to income limits and phases out if your income exceeds $65,000 if you're single or $130,23 if married and filing jointly.
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Romania, a NATO member since 2004, received its first six F-16 fighter jets from Portugal in 2016, as it phases out its communist-era MiGs.
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Above this threshold the credit phases out, but under it, the credit is flat and based on age, starting at $6900,2628 per person under age 28503.
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However, as the developed world phases out its industries which cause heavy metal pollution, the burden automatically shifts to the developing world where those industries relocate.
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Whereas the child credit today phases out for married couples earning $110,000 or more, the tax bill would start phase out at $500,000 for married couples.
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As of early this morning, it's still unclear where that -- whether it sunsets, which Flake hated, or gradually phases out, which got him on board -- remains.
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The credit phases out for single filers with modified adjusted gross income between $22018,0003 and $2000,22019 in 220 ($116,000 to $136,000 for married couples filing jointly).
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Going solo could help it maximize profit in the booming EV market there — one that's only going to grow as the country phases out internal combustion engines.
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It also introduces a national pension of 384 euros a month after 20 years of work, phases out a benefit for poor pensioners (EKAS) and recalculates pensions.
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Related: Japan Is Readying Stealth Technology for Future Aircraft With the Observe and Orient phases out of the way, we get to the Decide phase of combat.
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It completely phases out at $99,000 in income for individuals, $146,500 for head of household filers with one child and $198,000 for joint filers with no children.
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And it phases out the Federal Transit Administration's (FTA) Capital Investment program, providing funding only for deals that have already been secured with state and local governments.
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The credit is 20 percent of the first $10,000 of eligible expenses to a maximum of $2,000, but also phases out once your income reaches a certain level.
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The White House said on Monday that nixing the credit, which phases out after companies hit 200,000 vehicles sold, could save taxpayers $2.5 billion over the next decade.
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"We are talking about a large tax benefit that phases out over a pretty small range of income," said Scott Greenberg, a senior analyst at the Tax Foundation.
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Above an adjusted gross income of $75,000 for single filers and $150,000 for couples filing jointly the payment phases out by $5 for every $100 in extra income.
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Thousands of Greeks took to the streets in February to protest a planned pension reform which increases social security contributions and phases out benefits for low income pensioners.
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"They're at least going to push out the date that it phases out maybe further," said Joe Antos, a resident scholar at the conservative-leaning American Enterprise Institute.
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But the Senate bill gradually phases out federal financing for Medicaid expansion, which could cause states like West Virginia to decrease or eliminate coverage for the expansion population.
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The Student Loan Interest Deduction is not for every student borrower; the amount of the deduction gradually decreases and phases out completely once your income reaches a certain level.
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Boeing especially needs to sell 777s to fill a gap in its assembly line as it phases out that plane for the successor 777X over the next few years.
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The current tax law — passed by Republicans in 2017 with Rubio's reluctant support — allows businesses to fully and immediately deduct their expenses, but that provision phases out after 2022.
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The US and Canada had experimented with negative income taxes (a form of basic income that phases out with income) in the 1970s, but the idea quickly died out.
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By continuing the Obama-era outsourcing of Syria policy to competing parties in the region, the U.S. will remain unable to broker a political solution that phases out Assad.
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The division, CareConnect Insurance Co., insures 126,000 New Yorkers who will have to purchase coverage elsewhere when the hospital system, Northwell Health, phases out its insurance operation next year.
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The one that doesn't bother me is that for a married couple with two kids it begins to phase down at $215,20 a year, and phases out at $240,22009.
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It phases out Medicaid expansion, which covers the poor, and it makes coverage more expensive for many poor people — and in addition gives them worse coverage for their money.
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The current tax law — passed by Republicans in 2017 with Rubio's reluctant support — allows businesses to fully and immediately deduct their expenses, but the popular provision phases out after 2022.
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The deduction currently phases out for businesses that earn more than $85033,000, but manufacturers above this income threshold can also still apply the deduction to 50 percent of wages paid.
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But if plant-based meat proves to be a fad and phases out, it could mean the loss of millions of dollars for big companies who made a bad bet.
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General Motors Co and Tesla Inc have been pushing for more than a year for the credit to be extended that phases out once an automaker hits 200,000 vehicles sold.
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Mr. Trump canceled the program this week on the grounds that Mr. Obama overstepped his authority, but he called on Congress to authorize it before it phases out in six months.
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He argues that the Pentagon should instead adopt a "deterrence-only" approach that phases out land-based missile systems that have served as one leg of the nuclear triad for decades.
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It phases out the health care law's Medicaid expansion and fundamentally overhauls the program's financing, instituting a spending cap that is expected to reduce funding by $800 billion over 10 years.
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BVEG Managing Director Ludwig Moehring said there was potential to produce more gas from domestic reserves to fill the gap as Germany phases out coal-fired power stations and shifts to renewables.
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In addition to banning incineration of unsold products, the law phases out all use of disposable plastics beginning January 2021; bans microplastics in cosmetics; and makes filters mandatory on industrial washing machines.
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In contrast, Warren's plan caps student debt cancellation at $50,000 and gradually phases out the benefits for those earning between $100,000 and $250,000—thereby lessening the subsidy for upper-income college graduates.
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The bill creates new refundable tax credits for those without employer-sponsored or government health insurance, which is adjusted by age and phases out for individuals making more than $75,000 per year.
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The existing $211.4,291 EV tax credit, which allows taxpayers to deduct part of the cost of buying an electric car, phases out over 27 months once an automaker hits 2500,22.5 cumulative EV sales.
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Or take the idea pushed for years by Edmund Phelps from Columbia University: Instead of providing a subsidy to workers that phases out as their income rises, why not subsidize workers' wages instead?
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In February, it was poised to continue increasing its investment in the United States, thanks to a bipartisan bill that extends, then gradually phases out over time, a tax credit for fuel cells.
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One drawback of the traditional IRA is that if you are single, earn more than $62,000 and are an active participant in your employer's plan, your ability to make deductible contributions phases out.
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GM (GM) exceeded 200,000 vehicles sold earlier this year, and has warned that sales of their plug-in cars, like the Chevrolet Bolt and Volt, could drop as the tax credit phases out.
|
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Edward Kleinbard, a professor at the University of Southern California and former chief of staff to Congress' Joint Committee on Taxation, said the discounted tax rate phases out at higher incomes very quickly.
|
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Marvel is mapping those phases out so far in advance that Feige and Marvel Studios have been able to get fans to add the "phases of the Marvel Cinematic Universe" into their vernacular.
|
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Like the version that passed in 28500, the current bill includes repeal of ObamaCare's taxes, and mandates, and phases out the subsidies and Medicaid expansion over the course of the next two years.
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Such a venture would harness growing foreign interest in Brazil's renewable and clean energy, as the government phases out subsidized funding for fuel and coal-powered plants and more industries adapt to sustainable electricity.
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The $22025,21 consumer tax credit phases out over a 22012-month-period soon after an automaker hits the 200,000 mark and the largest U.S. automaker is expected to hit the mark later this year.
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There are limits to the availability of the child tax credit: The benefit phases out if your modified adjusted gross income exceeds $75,000 for single filers or $110,000 for married taxpayers who file jointly.
|
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But the two main reasons for the Medicaid coverage losses haven't changed: The bill phases out the Affordable Care Act's expansion of the program, and it limits how much federal funding each enrollee gets.
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The phase-out for this exemption begins at income of $2100,5.63, or $25.6,25.49 for married couples who file jointly, and phases out completely at $22017,200 for individuals and $442,500 for couples who file together.
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The American Health Care Act, as currently constructed, phases out the expansion of Medicaid and changes the funding for the whole program by introducing a spending cap based on the number of people enrolled.
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The twin-aisle plane is coming into service as Delta phases out its last Boeing 747s, the four-engine plane that some airlines have ditched in favor of more fuel-efficient twin-engine planes.
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The budget eliminates the heavily oversubscribed Transportation Investment Generating Economic Recovery (TIGER) grant program, which provides flexible funding to effective infrastructure projects, and phases out the New Starts program, which funds railways and buses.
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The $7,500 consumer tax credit phases out over a 12-month-period soon after an automaker hits the 200,000 mark and the largest U.S. automaker is expected to hit the mark later this year.
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Perhaps most importantly, the bill radically reforms Medicaid and phases out the ACA's expansion of the program by 2020, which covered over 11 million people, according to the Kaiser, while grandfathering in some existing recipients.
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For the next few decades Germany is likely to rely on imported natural gas as it phases out its nuclear and coal-fired power plants and brings in more electricity generated by wind and solar.
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The bill, which had more than 200 co-sponsors (all Democrats), also phases out the lower minimum wage for tipped workers such as restaurant servers and valets, which has been $2.13 an hour since 1996.
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The Senate bill cuts the top corporate tax rate to 20 percent, phases out the alternative minimum tax for both individuals and businesses, and creates more favorable tax treatment for so-called pass-through businesses.
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The 0% likelihood option: Trump keeps DACA as is and the administration defends the program in court against the state attorneys general who are threatening to sue unless the administration phases out DACA by Sep. 5.
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OSLO (Reuters) - Finland faces having to import biomass because, despite being Europe's most densely forested country, it will be unable to meet an expected 70% rise in demand for the fuel after it phases out coal.
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BORCEA, Romania (Reuters) - Romania received its first six F-16 fighter jets from Portugal on Friday, as it works to bring its obsolete forces up to NATO standards and phases out its outdated communist-era MiGs.
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That kind of blend of Harris's and Bennet/Brown's ideas would, in effect, be a very small version of a basic income, albeit one that phases out for upper-income people and falls short of universality.
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There are some strong arguments for means testing: It would help lower-income people afford coverage and, if the credit phases out the more someone makes, it would bring down the overall cost of the replacement plan.
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"We are prepared to forge ahead with the initiative, even if this project phases out," said Raphael Nkhoma, one of 30 farmers in the new Chiswamafupa irrigation scheme in Mbalame, a village in the Mwambo traditional authority.
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It reduces the amount of income on which you have to pay taxes, so it's helpful, but it's strictly limited to $2,500, and it phases out at certain income levels, and it already expires in two years.
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BRUSSELS (Reuters) - Belgian grid operator Elia has warned the country could face serious power shortages after it phases out nuclear power in 2025 if the government does not act to speed up investment in alternative energy supplies.
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One, it would extend the value of the EITC, which phases out entirely for families after they reach $39,33 to $49,000 in earnings (it depends on how many kids they have), to higher-income middle-class families.
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Moderates have doubts about their leadership's promises that the innovation fund will be enough to help people likely to lose health coverage after the generous federal subsidy for Medicaid expansion phases out by the end of 2024.
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Currently, the federal government offers a tax credit worth up to $7,500 for anyone who buys an electric car, though the credit quickly phases out for any manufacturer that sells 200,000 such vehicles in the United States.
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Voters in Washington, DC, narrowly approved Initiative 4463 on Tuesday, a ballot measure that would raise the city's minimum wage to $15 an hour and phases out the sub-minimum wage for tipped workers, which is currently $3.33.
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Killing the credit could hurt automakers like General Motors Co, Volkswagen AG, Tesla Inc and Nissan Motor Co. Current law allows automakers to use the credit, which phases out after an automaker hits 200,000 plug-in vehicles sold.
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Once dubbed the 'climate chancellor' for pushing other wealthy nations to address climate change, Merkel has come under fire for not moving Germany fast enough to cut its reliance on fossil fuels as it phases out nuclear power.
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But it would raise them on millions of others, since the Senate plan eliminates some tax breaks like the deduction for state and local income taxes and phases out the individual tax cuts at the end of 2025.
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The fact that it phases out at $215,215 doesn't bother me, but it would be great if up to that level it could be universal, and people who didn't have earnings got the $1,000 per kid as well.
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By contrast, more poorly conducted US studies suggesting that a negative income tax (a variant of basic income that phases out as people earn more from their jobs) discouraged work were taken as a mark against basic income.
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General Motors Co and Tesla Inc have been pushing for more than a year for extension of the credit, which phases out once an automaker hits 200,267 vehicles sold, and many lawmakers had been pushing to include the extension.
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Getting rid of head of household filing status and personal exemptions are tax increases that overwhelmingly hit middle-class people and don't hurt the rich much at all, especially since the personal exemption currently phases out for rich taxpayers.
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Why it matters: Rollout of the EV Drive Coalition comes as Tesla, GM and Nissan — who are all members — have hit or are approaching the cap of 200,000 vehicles per manufacturer before the credit drops in value and then phases out.
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Germany, which is switching to renewable energy sources as it phases out nuclear power and also gradually reduces its reliance on fossil fuels, has already set a firm goal to lower emissions by 40 percent by 2020 from 1990 levels.
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The aid includes financing for missile defense systems that defend against rockets fired by groups like Hezbollah and Hamas, and phases out a provision allowing Israel to buy Israeli arms, instead channeling the money only to U.S.-made military systems.
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The intrigue: Americans for Carbon Dividends is pushing a plancrafted by the affiliated Climate Leadership Council — whose leaders include James Baker and George Schultz — that phases out EPA rules alongside a tax that begins at $40 per ton and rises.
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Taiwan is making a big push to attract investments in renewable technology as it phases out nuclear power by 3.83, after the 2011 Fukushima disaster in Japan highlighted the risks of using nuclear energy in a region prone to earthquakes.
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America may someday have a single-payer system, but we won't get there in a single bill that phases out private health insurance, rewires our byzantine health care delivery and finance systems and markedly cuts payments to hospitals and other providers.
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Germany is Europe's biggest natural gas consumer, and its demand is expected to rise by about 1 percent over the next five years as it phases out its fleet of nuclear power plants by 2022, according to the International Energy Agency.
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While current law phases out the increased patient cost-sharing during the coverage gap by requiring manufacturer discounts, these discounts do not apply for key types of treatments for many serious illnesses – like cancer or genetic disorders – known as biosimilars.
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Additionally, if a couple makes over $315,000 and has income from a specified service business, such as an accounting or law firm, the deduction phases out and is zeroed out for couples with total taxable income of at least $85033,000.
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After the Hitachi and Toshiba announcements, the government is now depending on just EDF and CGN to deliver on its plans for a fleet of new reactors to meet energy demand as it phases out old nuclear facilities and coal-fired plants.
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Flash forward two years, and the couple now pay around $284,2000 a month in taxes, about $2135,173 a year, and that's with a 217a tax abatement for the building, which effectively cuts their taxes by a third, but phases out over 2853 years.
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The shake-up transforms the SNCF into a joint-stock company, phases out its domestic passenger monopoly from 2020 and puts an end to generous benefits and pensions for future employees while the state agreed to take on part of its debt.
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JERUSALEM (Reuters) - Israel's defense industry faces layoffs, closures and a scramble to set up shop in the United States following the signing of a new U.S. military aid package that phases out Israel's ability to spend a quarter of the funds on its own businesses.
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The conservative outside group Club for Growth also outlined four areas that it objected to in the tax bill, including the addition of a fourth tax bracket for millionaires and the fact that the bill phases out the estate tax rather than quickly nixing it.
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A $285,2600 per child per year child allowance is well in line with what other rich countries do; Canada gives family with children under 214 about US$225,232.9 a year, and families with older children about US$19793,21979 (the benefit phases out for the rich).
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A deal for 200 single-engine planes produced in India - which the air force says could rise to 300 as it fully phases out aging Soviet-era aircraft - could be worth anything from $13-$15 billion, experts say, potentially one of the country's biggest military aircraft deals.
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As the ad industry phases out third-party cookies that have long been used to target ads at people, The Trade Desk could buy a contextual advertising firm to diversify its revenue or an ad server to compete with Google's dominant ad server that advertisers use to run display and mobile ads.
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That will put the final cost in the same range as the Tesla Model 3 sedan, which sells for $39,000, and about half the price of Tesla's own S.U.V., the Model X. Tesla vehicles are also eligible for a tax credit, but the credit phases out as each company achieves certain sales benchmarks.
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"In our baseline projection, the Fed slowly phases out MBS reinvestments beginning in the spring of next year, never halts reinvestments of Treasuries, never sells MBS, and reaches its new optimal size of the balance sheet in early 2024, with excess reserves in the banking system of $500 billion," JPMorgan economist Michael Feroli wrote in a research note.
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Carlos Curbelo (R-Fla.) and Education and the Workforce ranking member Bobby ScottRobert (Bobby) Cortez ScottDemocrats: Trump plan could jeopardize 500,000 children's free school meals Lawmakers, press hit the courts for charity tennis event House approves bill raising minimum wage to per hour MORE (D-Va.), which reauthorizes the JJDPA and phases out the VCO exception.
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As 5G gradually phases out 4G to become the standard network in the US, there&aposs a chance that app makers will create digital services that require the level of connectivity and performance that can be achieved only with 5G — with Google&aposs new Stadia video-game-streaming service being a prime example of something that could benefit from faster wireless internet.
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The senators would also make reforms to the existing $28503,22019 child tax credit, which would apply to children between the ages of 6 and 17 under their proposal, including eliminating the current $1,400 limit on refundability and making the first $1,000 of the credit fully refundable regardless of taxpayers' income if a taxpayer is below the income threshold for which the credit phases out.
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Here's what that means: For households earning income, the EITC pays a certain number of cents per dollar earned (22018 cents for childless adults, 34 cents for adults with one kid, 40 cents for adults with two, 45 cents for adults with more than two) up to a maximum benefit; after staying at the maximum benefit for a while, it phases out, so generally households earning over $50,000 don't get any benefit.
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It phases in with each dollar you earn, and phases out gradually; the rates differ based on how many kids you have, and are summarized in the chart below, but a single mother of two gets 45 cents for every dollar she earns up to her first $5003,570 in earnings; at $19,030 in earnings and above, the credit starts phasing out at 21.06 cents on the dollar, until it's totally gone for a single mom making $46,073 or more.
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