Budget Battles
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Greene Backs Off Johnson Threat, but Issues Four Demands
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Social Security, Medicare Get Boost From Strong Economy
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Biden and Trump Joust Over Jobs Report
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IRS Unveils Plan to Crack Down on the Rich
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Marjorie Taylor Greene Says She’ll Force Vote to Oust Johnson
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Democrats Say They’re Ready to Rescue Mike Johnson
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‘A Good Day for America’: Biden Signs $95 Billion Foreign Aid Bill
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IRS Unveils Plan to Crack Down on Wealthy Taxpayers
By Michael RaineyThe IRS wants to increase its audit rate for taxpayers earning more than $10 million by about 50%, according to an updated operating plan released Thursday. Relying on additional funding provided by...
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Marjorie Taylor Greene Says She’ll Force Vote to Oust Johnson
Republican Rep. Marjorie Taylor Greene announced Wednesday that she will force a vote next week on her motion to oust Speaker Mike Johnson, even as her odds of succeeding appear to be nil. Republican...
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Supply-Siders Pitch Trump on a Flat Tax
By Michael RaineyA group of conservative advisers long associated with Republican economic policies are reportedly encouraging former President Donald Trump to embrace the idea of a flat income tax. Bloomberg’s...
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Former Biden Administration Economists Launch New Budget Lab
A huge tax fight is looming as a slew of 2017 Republican tax cuts are scheduled to expire at the end of 2025 — and, as Natasha Sarin writes at The Washington Post , the government’s budgetary...
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Trump Promises Billionaires: I'll Keep Your Taxes Low
Former President Donald Trump reportedly told wealthy donors to his 2024 campaign that he’ll keep their taxes low and extend his 2017 tax cuts, many of which are set to expire after 2025. Trump’s...
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Free IRS Filing Program Draws Few Users
By Michael RaineyThe IRS announced last week that upwards of 19 million people in 12 states are eligible to file their taxes for free using Direct File, a new program the tax agency is testing this year. But...
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19 Million Taxpayers Eligible for Free IRS Filing Program
By Michael RaineyThe IRS is testing a new online system that offers free filing directly through the tax agency, and over the weekend, Commissioner Danny Werfel said that millions of people are eligible to use it...
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Poll Finds Liberals and Conservatives Agree: Tax the Super-Rich
By Michael RaineyPresident 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...
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Biden Has Cut Taxes Overall: Analysis
By Michael RaineyPresident 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...
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IRS Commissioner Calls for Thousands of More Employees
By Michael RaineyIRS 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...
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Time Is Running Out, Yellen Warns
By Michael RaineyTreasury Secretary Janet Yellen on Tuesday called on lawmakers to raise the debt ceiling as quickly as possible, while warning that there would be “widespread suffering” if Congress fails to act. “...
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Extending the 2017 Tax Cuts Would Cost $3.5 Trillion: CBO
By Michael RaineyHouse Republicans are pushing for spending cuts to reduce the deficit in exchange for raising the debt ceiling, but they also hope to extend the package of GOP tax cuts passed under then-President...
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IRS Plans to Test Free Filing System
By Michael RaineyThe IRS has developed a system that would allow Americans to file their taxes for free online and plans to start testing the system on a small number of people early next year, Jacob Bogage of The...
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Why US Tax Revenues Have Been Smaller Than Expected
By Michael RaineyAs the Treasury Department warned last week, the drop-dead date for raising the debt limit could arrive as soon as June 1, earlier than most analysts had expected just a few weeks ago. The main...
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Weak Tax Revenues Could Speed Up the Debt Ceiling Deadline
By Michael RaineyThe exact date on which the U.S. will run out of cash to pay its bills is a moving target, with much depending on how robust tax revenues are this month. With the Treasury Department already taking...