Budget Battles
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Johnson Defies Hardliners, Pushes Ahead With Foreign Aid Plan
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Facing Right-Wing Revolt, Johnson Says He Won't Resign
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Johnson Unveils Plan for Israel, Ukraine Aid
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Trump Throws Johnson a Lifeline: ‘He’s Doing a Very Good Job’
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Biden’s New Student Debt Relief Plan Would Cost $84 Billion: Analysis
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House Conservatives Deal a New Blow to Johnson
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Marjorie Taylor Greene Fires Another Warning Shot at Johnson
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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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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...
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Biden’s SOTU Pitch: Tax the Rich and Businesses
By Michael RaineyPresident 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...
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Could Democrats Blow Up Biden’s Tax Plans?
As President Joe Biden works to court lawmakers and win support for his $4 trillion in tax and spending proposals, most of the speculation has been about whether he can find common ground with...
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Surprisingly Weak Jobs Report Spurs Partisan Clash
By Michael RaineyThe U.S. economy added 266,000 jobs in April, an impressive number in ordinary times but a huge disappointment for forecasters expecting to see about 1 million new jobs during the month as the...
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Biden Wants Corporate Tax Rate Between 25% and 28%
By Michael RaineyPresident Joe Biden said earlier this week that he is open to compromise on his plan to raise the corporate tax rate, and on Thursday cited a range of rates he would be willing to accept: between 25...
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Biden Downplays McConnell's Pledge to Focus on ‘Stopping’ His Administration
By Michael RaineyClaiming that President Joe Biden is trying to turn the U.S. into “a socialist country,” Senate Minority Leader Mitch McConnell (R-KY) said Wednesday that he aims to prevent the new president from...
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Jeff Bezos’s Heirs Would Pay Some Mighty Big Tax Bills Under Biden Plan
By Michael RaineyUnder current law, capital gains are wiped out at death, eliminating capital gains taxes on assets that are passed along to heirs. An enormous boon for wealthy families, this wrinkle in the tax code...