Budget Battles
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Trump Admin Eyes Back-to-Work Bonuses
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Biden Slams Trump’s Coronavirus Response
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The Republican Clash Over Coronavirus Aid
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Trump Wants to Cut Enhanced Unemployment Benefits: Report
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Trump Threatens to Permanently Cut WHO Funding
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$500 Billion Coronavirus Fund Has Barely Been Used
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House Set to Pass $3 Trillion Coronavirus Relief Bill
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White House Floats Another Corporate Tax Cut
The White House of Friday floated the idea of a massive corporate tax cut for U.S. companies that bring their operations back from other countries. “Why not provide a 50% discount for the corporate...
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Trump ‘Open’ to Sending More Money to States: Report
President Trump complained last week that providing additional federal funding to help states recover from the coronavirus crisis would be unfair to Republicans “because all the states that need help...
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Pelosi Pushes Back on Trump’s Call for New Tax Cuts
House Speaker Nancy Pelosi on Thursday laid out the broad outlines of the next round of coronavirus stimulus being written by House Democrats and dismissed President Trump’s calls for payroll and...
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State Budget Cuts Will Deepen Recession: Report
By Michael RaineyAs tax receipts plunge, state and local governments will likely cut back on spending if they don’t receive additional federal aid, making the current recession worse than it would be otherwise,...
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As Trump Pushes Tax Cuts for Coronavirus Stimulus, Lawmakers Push Back
President Trump’s renewed push for a payroll tax cut as part of the next round of coronavirus stimulus is being met with bipartisan resistance on Capitol Hill, with even some Republican leaders...
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Trump and Cuomo Battle Over State ‘Bailouts’
By Michael RaineyPresident Trump said Monday that Republicans don’t want to provide “bailouts” to states that are struggling financially amid the coronavirus epidemic. “I think Congress is inclined to do a lot of...
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Trump Pushes Payroll Tax Cut Panned by Economists
As the Senate returns to the Capitol this week, the obstacles to the next round of emergency coronavirus relief legislation seem to be mounting. Trump insists on a payroll tax cut: President Trump...
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IRS Has Sent 88 Million Coronavirus Payments Totaling $158 Billion
The Internal Revenue Service said Friday that it had issued 88.1 million Economic Impact Payments totaling nearly $158 billion as of April 17. The tax agency also released a geographical breakdown of...
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Why Some Tax Prep Clients Aren't Getting Their Stimulus Checks
By Paul Kiel and Justin Elliott and Will Young, ProPublicaLast week, a group of angry and desperate Citi Tax Financial customers gathered outside the company’s storefront in Augusta, Georgia. Millions of Americans had received a big deposit from the IRS in...
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Coronavirus Relief Bill Has a Special Treat for Some Wealthy Taxpayers
By Michael RaineyThe roughly $2 trillion coronavirus relief package signed into law last month includes a provision that will cut the tax bills for some Americans who make more than $1 million a year, according to a...
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The Next Big Fiscal Question: How to Raise More Revenue?
By Michael RaineyAn all-star roster of fiscal experts gathered at the Brookings Institution Tuesday to debate the future of American tax policy. The initial discussion featured former U.S. Treasury secretaries...
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Sanders, Biden Tax Plans Would Raise Far Less Revenue Than They Project: Study
Tax proposals put forth by Democratic presidential candidate Joe Biden and Bernie Sanders won’t generate as much revenue as their campaigns project, and in some cases would fall significantly short...
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The IRS Decided to Get Tough Against Microsoft. Microsoft Got Tougher
By Paul Kiel, ProPublicaEight years ago, the IRS, tired of seeing the country’s largest corporations fearlessly stash billions in tax havens, decided to take a stand. The agency challenged what it saw as an epic case of tax...
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![U.S. Treasury Secretary Steven Mnuchin testifies to the Senate Banking, Housing and Urban Affairs Committee in Washington](http://dcewboipbvgi2.cloudfront.net/sites/default/files/styles/thumbnail/public/reuters/usa-senate-mnuchin_1.jpg?itok=19inuaet "U.S. Treasury Secretary Steven Mnuchin testifies to the Senate Banking, Housing and Urban Affairs Committee on "The Financial Stability Oversight Council Annual Report to Congress" on Capitol Hill in Washington, U.S., January 30, 2018. REUTERS/Joshua Rob")
Holy $#!& Quote of the Day: Mnuchin’s Wild Tax Cut Claim
"I’ll stay on the record that I think tax cuts will pay for themselves." – Treasury Secretary Steve Mnuchin at the World Economic Forum at Davos, as reported by Heather Long of The Washington Post...
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Trump Says He’ll Soon Unveil a Middle-Class Tax Cut
In an interview with The Wall Street Journal , President Trump said Tuesday that his administration is working on a middle-class tax cut proposal that would take effect if he is re-elected and...