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TaxBuzz Top 5 - Trump Announces 25% Auto Tariff, Texas Court Nixes $4 Million Prison Tax Refund & More

3/27/2025

Each Friday, TaxBuzz brings you the top five tax and accounting headlines you need to know from the workweek. We know life can get busy and you don't always have time to scroll through your news feed to stay informed.

We weed through all of the week's stories to showcase the most important updates in the tax and accounting world.

1. Trump’s 25% Auto Tariff Sparks Global Concern, Higher Car Prices Expected

Credit: Anna Moneymaker/Getty Images

President Donald Trump has announced the imposition of a 25% tariff on all foreign-made cars, effective April 2. This significant increase from the current 2.5% tariff aims to bolster domestic manufacturing and reduce trade deficits.

The decision has elicited strong reactions globally. Canadian Prime Minister Mark Carney labeled the tariffs a "direct attack" on Canadian workers and pledged to defend national interests, The Guardian notes. European Commission President Ursula von der Leyen criticized the move as detrimental to businesses and consumers alike. Japanese Prime Minister Shigeru Ishiba indicated that Japan is considering appropriate countermeasures.

Industry experts warn that the tariffs could lead to increased vehicle prices, with estimates suggesting an additional $6,000 on the average car's sticker price. This escalation may also prompt retaliatory measures from affected countries, potentially igniting a global trade war.

The automotive industry is bracing for widespread disruptions. Shares in major automakers, including General Motors and Ford, have declined following the announcement. Foreign manufacturers with U.S. operations may also be impacted, the AP reports, especially if they rely on imported components.

2. Michigan Senate Democrats Propose Tax Relief and Childcare Support for Families

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Credit: MoMo Productions/Getty Images

Michigan Senate Democrats have introduced a comprehensive plan aimed at alleviating financial pressures on families with young children, the Michigan Advance reports. The proposal includes a $5,500 tax credit for families with children under the age of three, building upon the expansion of the Earned Income Tax Credit (EITC) for working families enacted in 2023.

Senator Kevin Hertel (D-St. Clair Shores) stated that the goal of the legislation is to allow parents to retain more of their earnings, enabling them to afford necessities and plan for their children's futures.

Senator Mallory McMorrow (D-Royal Oak) was quoted as saying that 41% of Michigan households struggle to afford basics like housing, healthcare, and food. With the average annual cost of childcare in Michigan around $9,000 per child, many families face significant financial strain.

The plan also proposes codifying the MI Tri-Share program, which divides childcare costs among employers, the state, and employees, into the state budget. Additionally, Democrats aim to expand accessibility for new childcare centers.

Dr. Mona Hanna, a Flint pediatrician known for exposing the Flint Water Crisis, supports the initiative. She noted that poverty acts as a pathogen affecting children's health and life potential. Hanna cited the success of the Rx Kids program, which has distributed over $7 million since early 2024 to more than 1,500 families in Flint, Kalamazoo, and the Upper Peninsula, offering financial support during pregnancy and the first year of a child's life.

3. Texas Supreme Court Denies GEO Group's $4 Million Tax Refund Claim

Credit: Donovan Reese/Getty Images

The Texas Supreme Court has ruled that private prison operator GEO Group is not entitled to a $4 million sales tax refund, affirming a lower court's decision. The court determined that GEO Group does not qualify as an "unincorporated instrumentality" of the government, despite its contracts with federal and state agencies.

Justice Brett Busby, writing for the majority, stated that GEO's purchases under these contracts are not exempt from taxation, as the company is neither a government agent nor wholly owned by the state or federal government, KERA News reports.

GEO Group, one of the world's largest private, for-profit prison companies, operates 11 facilities across Texas, including several U.S. Immigration and Customs Enforcement detention centers. The company had previously argued that its role in housing detainees under government contracts rendered it exempt from sales taxes. However, the court found that GEO's for-profit status and its designation as an independent contractor in many contracts disqualified it from tax exemption.

This ruling underscores the court's position that private entities, even those performing functions under government contracts, do not automatically receive the same tax exemptions as government agencies.

4. India Plans to Scrap Digital Tax Targeting U.S. Tech Giants

Credit: JHVEPhoto/Getty Images

Per Reuters, India is preparing to eliminate its 6% equalization levy on digital advertising services, a tax that has primarily affected American tech firms like Google, Meta, and Amazon. The move, included in amendments to the Finance Bill 2025, would take effect April 1 if approved by Parliament. The decision aims to ease long-standing trade tensions with the U.S. and clear the path for a broader bilateral trade agreement.

The equalization levy was introduced in 2020 to target foreign digital service providers, but it drew criticism from the United States Trade Representative for allegedly discriminating against U.S. companies.

Eliminating the tax could mark a turning point in digital tax disputes between the two countries and strengthen efforts to hit a $500 billion two-way trade target by 2030.

The removal would offer financial relief for major platforms operating in India and could help smooth negotiations on other outstanding trade issues. The move also aligns with India’s broader push to attract foreign investment and reduce friction with global tech firms that are increasingly central to its digital economy.

5. U.S. Proposal to Tax Chinese-Built Ships Sparks Opposition

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Credit: hdere/Getty Images

The U.S. Trade Representative's proposal to impose fees of up to $1.5 million per call on Chinese-built vessels docking at American ports has sparked opposition across various sectors, The Loadster reports. The initiative aims to bolster domestic shipbuilding by discouraging reliance on Chinese-made ships.

Critics argue that such fees could disrupt supply chains, elevate shipping costs, and adversely affect industries dependent on maritime transport. The agricultural sector, in particular, warns of potential export challenges due to vessel shortages and increased transportation expenses.

Maritime executives caution that the proposed fees might harm U.S. ship operators and exporters, potentially leading to job losses and further supply chain complications, Reuters reports.

As the final hearing on this proposal approaches, stakeholders from various industries are voicing their concerns, emphasizing the need for careful consideration to avoid unintended economic consequences.

Which headline this week most interests you?

Feature Image Credit: Hans Neleman/Getty Images

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Rebekah Barton

Rebekah's search engine optimization career began completely by accident as a college student. Over the course of her career so far, she has "grown up" with the SEO industry, from writing content while juggling classes to managing her own teams of writers and overseeing SEO strategy in subsequent roles. She is excited to bring her passion for high-quality content to CountingWorks, Inc.

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You agree that: (i) the Website shall be deemed solely based in California; and (ii) the Website shall be deemed a passive website that does not give rise to personal jurisdiction over Taxbuzz or CountingWorks, Inc., either specific or general, in jurisdictions other than California. These Terms and Conditions shall be governed by the internal substantive laws of the State of California, without respect to its conflict of laws principles. Any claim or dispute between you and Taxbuzz that arises in whole or in part from the Website shall be decided exclusively by a court of competent jurisdiction located in Los Angeles County, California. These Terms and Conditions, together with the Privacy Policy at https://www.taxbuzz.com/t/privacy and any other legal notices published by Taxbuzz on the Website, shall constitute the entire agreement between you and Taxbuzz concerning the Website. If any provision of these Terms and Conditions is deemed invalid by a court of competent jurisdiction, the invalidity of such provision shall not affect the validity of the remaining provisions of these Terms and Conditions, which shall remain in full force and effect. No waiver of any term of this these Terms and Conditions shall be deemed a further or continuing waiver of such term or any other term, and Taxbuzz's failure to assert any right or provision under the Terms and Conditions shall not constitute a waiver of such right or provision. YOU AND TAXBUZZ AGREE THAT ANY CAUSE OF ACTION ARISING OUT OF OR RELATED TO THE WEBSITE MUST COMMENCE WITHIN ONE (1) YEAR AFTER THE CAUSE OF ACTION ACCRUES. OTHERWISE, SUCH CAUSE OF ACTION IS PERMANENTLY BARRED.
Liability Limitation and Usage Guidelines for TaxBuzz Ai:
Limitation of Liability:

TaxBuzz Ai is a tool designed to provide tax professionals with assistance in generating responses to tax research questions. While we strive to maintain the accuracy and reliability of the information provided, it is imperative to recognize that tax laws are dynamic and subject to change. Therefore, the use of TaxBuzz Ai should be complemented by professional judgment and consultation with legal and tax experts.

By utilizing TaxBuzz Ai, you acknowledge and agree that the information generated should not be considered as a substitute for professional advice tailored to your specific circumstances. We explicitly disclaim any liability for the consequences arising from the use of advice generated by TaxBuzz Ai. Users are encouraged to independently verify the information and seek professional advice before making decisions based on the Ai-generated responses.

Usage Guidelines:
- Professional Judgment: TaxBuzz Ai is a tool to aid tax professionals in research and analysis. It is not a replacement for professional judgment, and users should exercise their expertise when interpreting and applying the information generated.
- Consultation with Experts: While TaxBuzz Ai provides valuable insights, it is crucial to consult with legal and tax experts to ensure the advice aligns with the latest legal developments and specific nuances of a particular situation.
- Verification of Information: Users are responsible for independently verifying the information provided by TaxBuzz Ai, especially in instances where the advice generated is critical to decision-making.
- Educational Purposes: TaxBuzz Ai is intended for educational and informational purposes only. It is not intended to provide specific legal or tax advice tailored to individual circumstances.
- Non-Endorsement: The use of TaxBuzz Ai does not constitute an endorsement or guarantee of the accuracy of the information provided. Users are encouraged to corroborate the advice with other reliable sources.
By accessing and using TaxBuzz Ai, you agree to abide by these terms and acknowledge the limitations outlined herein. We reserve the right to modify these terms at any time, and your continued use of TaxBuzz Ai constitutes acceptance of any such modifications. If you do not agree with these terms, please refrain from using TaxBuzz Ai.

TaxBuzz.com is a service of CountingWorks, Inc., 2549 Eastbuff Drive., #448 208, Newport Beach, CA 92660

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