Budget Battles
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Dems Debate Smaller Unemployment Checks
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Now It's the Senate's Turn on Stimulus
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Democrats Scramble to Save $15 Minimum Wage
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The US Is About to Get a New Top Tax Break
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150 Top Business Leaders Back Biden's Covid Plan
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Fed's Powell Warns Congress on the Economy
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Two Key Senators Say No to Biden’s Budget Office Pick
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Warren Proposes ‘Ultra-Millionaire’ Tax
By Michael RaineyMassachusetts 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...
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Treasury Gets a Tax Windfall as Stocks Soar
By Michael RaineyThe booming stock market is producing a surge in capital gains, and the U.S. Treasury now expects to collect more in capital gains taxes this year than it has in a decade as investors take their...
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Democrats, Liberal Groups Push to Boost IRS Audits of the Rich and Corporations
Democratic Reps. Ro Khanna of California and Peter DeFazio of Oregon each introduced bills on Thursday aimed at boosting tax enforcement on the wealthy and shrinking the “tax gap,” the amount of...
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Broad Support for Biden’s Covid Relief Agenda: Poll
By Michael RaineyA substantial majority of Americans supports President Biden’s proposal to provide $2,000 in relief payments to most adults, according to the results of a new poll from Yahoo News/YouGov. In a survey...
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Schumer Leads New Push to Repeal SALT Cap
Senate Majority Leader Chuck Schumer (D-NY) and a bipartisan group of blue-state lawmakers introduced legislation on Friday to repeal the $10,000 cap on state and local tax deductions created under...
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Taxpayer Advocate: The IRS Needs More Funding
By Michael RaineyNational Taxpayer Advocate Erin Collins released her annual report to Congress Wednesday, and it came with a blunt message: Years of funding cuts have made it difficult for the nation’s tax and...
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Democrats Plan a Major End Run Around the GOP
By Michael RaineyYou’ll probably be hearing a lot about “budget reconciliation” in the coming weeks, as Democrats work to pass a substantial spending package in the early days of the Biden administration. The term...
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Biden’s Agenda Gets a Boost With Democratic Control in Washington
By Michael RaineyThe Democratic sweep of the runoff Senate elections in Georgia may not have gotten as much coverage as the storming of the Capitol by a pro-Trump mob Wednesday, but the results will have a powerful...
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Reviving the Pandemic Economy
By Michael RaineyWith the U.S. economy headed for another slowdown as the coronavirus surges to record levels, The New York Times gathered a group of experts “to debate the priorities for economic policy in the...
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State and Local Tax Revenues Better Than Expected
By Michael RaineyMany economists worried that local tax revenues would fall sharply in the wake of the coronavirus pandemic, creating a long-lasting drag on the economy as payrolls shrank and public investment...
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IRS Budget Boost Would More Than Pay for Itself, CBO Says
Boosting the Internal Revenue Service’s budget for audits and collections would pay for itself as much as three times over, the Congressional Budget Office estimated in a report released Wednesday...
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The Decline of the IRS
By The Fiscal Times StaffProPublica has been documenting what it calls “the descent of the IRS” over the last decade as the agency struggles with budget cuts and hostility from lawmakers. In a report Thursday, the...
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Tax Day Won’t Be Postponed Again, Treasury and IRS Say
The Treasury Department and Internal Revenue Service announced late Monday that the July 15 tax-filing deadline, pushed back from April 15 due to the coronavirus pandemic, will not be postponed again...
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Millions of Taxpayers Face ‘Extreme Delays’ in Getting Refunds: IRS Watchdog
The novel coronavirus pandemic has resulted in some serious backlogs at the Internal Revenue Service, the National Taxpayer Advocate writes in a new report to Congress. Noting that the IRS has done a...
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![FILE PHOTO - The federal government forms for applying for health coverage are seen at a rally held by supporters of the Affordable Care Act, widely referred to as "Obamacare", outside the Jackson-Hinds Comprehensive Health Center in Jackson, Mississippi](https://dcewboipbvgi2.cloudfront.net/sites/default/files/styles/thumbnail/public/reuters/usa-obamacare-insurers_1.jpg?itok=PL3Nil7P "FILE PHOTO - The federal government forms for applying for health coverage are seen at a rally held by supporters of the Affordable Care Act, widely referred to as "Obamacare", outside the Jackson-Hinds Comprehensive Health Center in Jackson, Mississippi")
Trump Admin Asks Supreme Court to End Obamacare
By Michael RaineyThe Trump administration urged the Supreme Court to strike down the Affordable Care Act in a legal brief filed by the Justice Department late Thursday. The 82-page brief reiterates the administration...