• Biden Eyes a Big Tax Hike on Wealthy Investors

    By Michael Rainey and Yuval Rosenberg

    President Joe Biden will propose raising the capital gains tax rate to 39.6% for those earning more than $1 million a year, Bloomberg reported Thursday. That would roughly double the current capital...

  • Biden speaks about the COVID-19 pandemic response at the White House in Washington

    Biden Offers New Tax Credit to Help Drive Vaccinations

    By Michael Rainey

    President Biden said Wednesday that by the end of the day, the U.S. will have achieved his stated goal of administering 200 million Covid-19 vaccine doses within the first 100 days of his...

  • The logo of Foxconn, the trading name of Hon Hai Precision Industry, is seen on top of the company's headquarters in New Taipei City, Taiwan March 29, 2016. REUTERS/Tyrone Siu/File Photo

    Foxconn’s $10 Billion Wisconsin Project Scaled Way Back

    By Michael Rainey

    In 2017, Foxconn, a massive electronics manufacturer based in Taiwan, committed to spending $10 billion to build an LCD manufacturing plant in Wisconsin. Fueled by roughly $3 billion in state tax...

  • Men enjoy the afternoon sun at the Brouwersgracht canal in Amsterdam

    Signs of Progress on Global Minimum Tax

    By Michael Rainey

    The Biden administration has proposed a global minimum tax rate of 21% for multinational corporations but needs other counties to agree in order to make the system work. On Monday, Hans Vijlbrief, a...

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

    How Hard Would It Be to Fix the IRS?

    By Michael Rainey

    President Biden is counting on a reinvigorated IRS to help fund some of his more ambitious spending plans, but The Wall Street Journal’s Richard Rubin says Tuesday that revitalizing the agency may be...