Budget Battles
-
Covid Relief Bill Stalls in Fight Over Unemployment Benefits
-
GOP Turns to Delay Tactics to Stall Covid Relief Bill
-
Biden Agrees to Limit Covid Relief Payments
-
Dems Debate Smaller Unemployment Checks
-
Now It's the Senate's Turn on Stimulus
-
Democrats Scramble to Save $15 Minimum Wage
-
The US Is About to Get a New Top Tax Break
-
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...
-
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...
-
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...
-
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...
-
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...
-
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...
-
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...
-
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...
-
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...
-
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...
-
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...
-
The Scramble Is On to Send Millions of Coronavirus Checks
Congress last week approved legislation to send millions of Americans coronavirus relief payments and Treasury Secretary Steven Mnuchin said Sunday that the money would start arriving “within three...
-
Pelosi Floats Stimulus Idea That Would Benefit High Earners
House Speaker Nancy Pelosi has floated another suggestion for the next round of fiscal stimulus: A retroactive rollback of the 2017 Republican tax law’s limit on state and local tax deductions. In an...
-
Answers to Your Questions About the Coronavirus Direct Payments
By Michael RaineyMillions of Americans — and many of our readers — are wondering what kind of check they’ll be getting from the Treasury as part of the emergency aid package that is expected to become law as soon as...
-
Breaking Down the Costs of the $2 Trillion Coronavirus Rescue Package
The nearly 900-page coronavirus relief package passed by the Senate late Wednesday night includes some $2.3 trillion in costs , according to the The Committee for a Responsible Federal Budget, though...