Taxes
  • Poll Finds Liberals and Conservatives Agree: Tax the Super-Rich

    By Michael Rainey

    President 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...

  • U.S. President Joe Biden visits New Mexico

    Biden Has Cut Taxes Overall: Analysis

    By Michael Rainey

    President 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...

  • Daniel Werfel Testifies Before US House Ways And Means Committee

    IRS Commissioner Calls for Thousands of More Employees

    By Michael Rainey

    IRS 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...

  • U.S. President Joe Biden Remarks In New Hampshire

    Biden Proposes a $7.3 Trillion Budget for 2025

    President Biden on Monday proposed a $7.3 trillion budget for fiscal year 2025 that seeks to lower the costs of prescription drugs, child care and housing while also cutting the deficit by $3...

  •  U.S. President Biden hosts White House event to celebrate the anniversary of the 2022 Inflation Reduction Act legislation in Washington

    Biden’s SOTU Pitch: Tax the Rich and Businesses

    By Michael Rainey

    President Joe Biden will deliver his State of the Union address to Congress this evening, and some political analysts are calling it the most important moment in his decades-long political career...

  • During WWII, the DOD provided funding to firms like Fairchild Semiconductor and Texas Instruments to <a href="http://money.cnn.com/galleries/2011/technology/1110/gallery.government_inventions/2.html" target="_blank">build a tiny device</a> that could help

    First CHIPS Act Grant Goes to Major Defense Contractor

    By Michael Rainey

    The Biden administration announced Monday that the first federal grant intended to boost U.S. semiconductor manufacturing is going to an American subsidy of BAE Systems, a multi-billion-dollar...

  • Is the Tax System Broken?

    By Michael Rainey

    Historically, tax revenues have increased significantly during economic booms as unemployment falls and then declined during slowdowns as unemployment rises, but according to Bobby Kogan, senior...

  • Oct 18, 2023; Washington, DC, USA; Rep. Jim Jordan, R-Ohio is seen on the House floor as lawmakers hold a second vote to elect a

    Jordan Loses Second Speaker Vote, Says He'll Keep Going

    Jim Jordan suffered a second defeat Wednesday in his bid to win the speaker’s gavel — a campaign that now appears doomed to fail even as the firebrand Ohio Republican insists he wants to keep going...

  • IRS to Test Free Filing System

    By Michael Rainey

    The IRS announced Tuesday that it will test its direct tax-filing system in a handful of states next year. The tax agency has been working on the free, electronic alternative to paid tax services...

  • Jim Jordan Builds Support Ahead of Speaker Vote

    By Michael Rainey

    With a vote in the full House scheduled for noon on Tuesday, Rep. Jim Jordan is gaining support in his effort to become the next speaker. “I feel real good about the momentum we have and I think we'...