Taxes
  • Poll Finds Liberals and Conservatives Agree: Tax the Super-Rich

    By Michael Rainey

    President Joe Biden has proposed a number of tax hikes on wealthy households and corporations, and it looks like some of his proposals — including a 25% minimum tax on billionaires — could win...

  • U.S. President Joe Biden visits New Mexico

    Biden Has Cut Taxes Overall: Analysis

    By Michael Rainey

    President Biden has called for raising taxes on corporations and the wealthy, but according to a new analysis by the Urban-Brookings Tax Policy Center, he has been a net tax cutter so far. In an...

  • Daniel Werfel Testifies Before US House Ways And Means Committee

    IRS Commissioner Calls for Thousands of More Employees

    By Michael Rainey

    IRS Commissioner Danny Werfel said Monday that the tax agency needs to increase its overall employment level by about 10,000 employees to be fully effective. “We're at 90,000 now,” he told students...

  • U.S. President Joe Biden Remarks In New Hampshire

    Biden Proposes a $7.3 Trillion Budget for 2025

    President Biden on Monday proposed a $7.3 trillion budget for fiscal year 2025 that seeks to lower the costs of prescription drugs, child care and housing while also cutting the deficit by $3...

  •  U.S. President Biden hosts White House event to celebrate the anniversary of the 2022 Inflation Reduction Act legislation in Washington

    Biden’s SOTU Pitch: Tax the Rich and Businesses

    By Michael Rainey

    President Joe Biden will deliver his State of the Union address to Congress this evening, and some political analysts are calling it the most important moment in his decades-long political career...

  • Kevin McCarthy is elected next Speaker of the U.S. House of Representatives at the U.S. Capitol in Washington

    House Republicans' Next Big Fight

    As messy and dramatic as it was, last week’s lengthy fight over the House speaker’s gavel was supposed to be the easy part. Now, newly elected House Speaker Kevin McCarthy (R-CA) is poised to face...

  • Republicans Want to Slash the IRS Budget. CBO Warns It Would Cost Billions

    By Michael Rainey

    The new Republican leaders in the House have long vowed that their first legislative vote — expected later tonight — will be on a bill that would rescind most of the $80 billion in funding provided...

  • EU Approves Corporate Minimum Tax

    By Michael Rainey

    The 27 member states of the European Union plan to start collecting a 15% minimum tax on the profits of large corporations starting in 2024. Poland and Hungary had delayed an agreement to do so but...

  • A security camera hangs near a corner of the Internal Revenue Service (IRS) building in Washington

    Biden Announces His Pick to Lead the IRS

    President Joe Biden on Thursday announced that he will nominate Daniel Werfel, who served in the administrations of Presidents George W. Bush and Barack Obama, to lead the Internal Revenue Service...

  • President Biden at his Wednesday news conference.

    No Red Wave, but Maybe an Orange Crush

    By Yuval Rosenberg and Michael Rainey

    So there was no red wave. In defiance of polls showing significant Republican momentum leading up to Election Day, Democrats managed to avoid a 2006-style midterm “thumpin’” and a 2010-style “...