Budget Battles
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Social Security, Medicare Get Boost From Strong Economy
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Biden and Trump Joust Over Jobs Report
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IRS Unveils Plan to Crack Down on the Rich
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Marjorie Taylor Greene Says She’ll Force Vote to Oust Johnson
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Democrats Say They’re Ready to Rescue Mike Johnson
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‘A Good Day for America’: Biden Signs $95 Billion Foreign Aid Bill
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Senate Advances $95 Billion Foreign Aid Package
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IRS Unveils Plan to Crack Down on Wealthy Taxpayers
By Michael RaineyThe IRS wants to increase its audit rate for taxpayers earning more than $10 million by about 50%, according to an updated operating plan released Thursday. Relying on additional funding provided by...
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Marjorie Taylor Greene Says She’ll Force Vote to Oust Johnson
Republican Rep. Marjorie Taylor Greene announced Wednesday that she will force a vote next week on her motion to oust Speaker Mike Johnson, even as her odds of succeeding appear to be nil. Republican...
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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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Wealthiest Americans Pay Little Income Tax: Report
By Michael RaineyAmazon founder Jeff Bezos was worth about $18 billion in 2011, but he paid no federal income taxes that year. Investment losses exceeded whatever income he received, leaving him with an income tax...
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Biden, Yellen Notch a Win in Push for Historic Global Tax Deal
By Michael RaineyFinance leaders from the G7 group of advanced economies said Saturday that they had reached an agreement on establishing a minimum global corporate tax rate, a significant step forward in the Biden...
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Biden Offers to Slash Infrastructure Plan in Bid for GOP Support
In his meeting Wednesday with the top Republican negotiator on infrastructure, President Joe Biden reportedly insisted that the GOP must accept about $1 trillion in new spending as part of any deal...
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Deficits Likely to Be Bigger Than Biden’s Budget Projects
President Biden’s budget request for fiscal year 2020 projects a $1.8 trillion deficit next year and annual shortfalls of more than $1.3 trillion over the rest of the next decade. Actual deficits...
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SALT Deduction Cap Didn’t Led to Exodus From High Tax States: Report
The 2017 Republican tax law’s $10,000 cap on the deductibility of state and local taxes did not lead taxpayers in high-tax states to flee en masse to states without an income tax, such as Florida and...