Budget Battles
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The 2025 Spending Fight Has Officially Begun — and It’s Going to Be Big
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Supreme Court Slaps Down Challenge to Consumer Watchdog
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Inflation Eases in April, Lifting Hopes for a Soft Landing
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Biden Jacks Up Tariffs on $18 Billion in Chinese Imports
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Trump Promises New Tax Cuts for Everyone
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Biden White House Lays Out Plan for Coming Tax Showdown
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Trump Tax Cut Extension Would Cost $4.6 Trillion: CBO
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Biden’s Plan to Extend Trump’s Tax Cuts Would Cost More Than $2 Trillion: Analysis
By Michael RaineyPresident Biden is calling for the individual tax cuts signed into law by former President Trump in 2017 to expire as scheduled after next year, but with one major exception: Anyone earning less than...
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Biden’s Top Economic Advisor Lays Out Principles for Tax Fight Ahead
By Michael RaineyWith many of the 2017 Republican tax cuts set to expire after next year, the White House and Congress are already laying the groundwork for a huge battle over the tax code. On Friday, President Joe...
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Trump Tax Cut Extension Would Cost $4.6 Trillion: CBO
By Michael RaineyLawmakers in Washington will need to address some serious fiscal questions next year, not least of which is what to do about Trump-era tax cuts set to expire at the end of 2025. Some in Congress want...
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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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House Rejects Effort to Boost SALT Deduction
By Michael RaineyIn a procedural vote Wednesday, the House rejected a bill that would double the state and local income tax (SALT) deduction for some filers. The vote was 195-225, as 18 conservative Democrats joined...
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House Easily Passes Bipartisan Tax Bill. Will Senate GOP Derail It?
The House on Tuesday night easily passed a $78 billion bipartisan bill to increase the Child Tax Credit and restore some business tax breaks through 2025. The Tax Relief for American Families and...
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House Set to Vote on Bipartisan Tax Bill to Expand Child Credit, Restore Business Breaks
The House of Representatives is poised to vote tonight on a $78 billion bipartisan deal that would temporarily enhance the Child Tax Credit and restore a trio of corporate tax breaks. The measure is...
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Republican Infighting Threatens to Derail Vote on Bipartisan Tax Bill
The top Republican on the tax-writing House Ways and Means Committee on Tuesday morning told CNBC that he expects a floor vote this week on the $78 billion bipartisan tax deal to temporarily expand...
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Bipartisan Tax Proposal Would Benefit Lowest and Highest-Income Households Most: Analysis
By Michael RaineyThe proposed tax package unveiled last week by House Ways and Means Committee Chairman Jason Smith and Senate Finance Committee Chairman Ron Wyden would provide outsized benefits to two groups at...