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...

  • The U.S. Capitol dome is seen in Washington

    Biden Plans First Major Tax Hike Since 1993

    By Michael Rainey

    The Biden administration is turning to its next major initiative, a long-term economic program that will involve both substantial new spending and significant increases in taxes for the first time in...

  • Joe Biden virtual event with Democratic Caucus -Washington

    The Tax Hikes Tucked Into Biden’s Covid Relief Plan

    By Yuval Rosenberg and Michael Rainey

    Democrats inserted three tax hikes on the wealthy and large corporations into their $1.9 trillion Covid rescue plan. Together, the three increases are projected to raise $60 billion, Politico’s Brian...

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

    Tax Break in Covid Relief Bill Leads to Calls for Congress to Delay Filing Deadline

    By Michael Rainey

    The Senate version of the $1.9 trillion Covid relief bill includes a tax break on unemployment benefits that, if signed into law, will no doubt be welcomed by those tallying up their 2020 tax bills...

  • The U.S. Capitol dome is seen in Washington

    Covid Relief Bill Includes Major Tax Cuts

    By Michael Rainey

    The Senate version of the $1.9 trillion American Rescue Plan will cut taxes by about $3,000 on average this year, according to a new analysis by the Tax Policy Center. Families with children will see...

  • U.S. Democratic presidential contenders attend a party dinner

    Warren Proposes ‘Ultra-Millionaire’ Tax

    By Michael Rainey

    Massachusetts Sen. Elizabeth Warren (D) on Monday unveiled a proposal to tax the net worth of the wealthiest Americans, a move she says would raise roughly $3 trillion in revenues over 10 years. The...