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...

  • Biden Eyes a Big Tax Hike on Wealthy Investors

    By Michael Rainey and Yuval Rosenberg

    President Joe Biden will propose raising the capital gains tax rate to 39.6% for those earning more than $1 million a year, Bloomberg reported Thursday. That would roughly double the current capital...

  • Biden speaks about the COVID-19 pandemic response at the White House in Washington

    Biden Offers New Tax Credit to Help Drive Vaccinations

    By Michael Rainey

    President Biden said Wednesday that by the end of the day, the U.S. will have achieved his stated goal of administering 200 million Covid-19 vaccine doses within the first 100 days of his...

  • The logo of Foxconn, the trading name of Hon Hai Precision Industry, is seen on top of the company's headquarters in New Taipei City, Taiwan March 29, 2016. REUTERS/Tyrone Siu/File Photo

    Foxconn’s $10 Billion Wisconsin Project Scaled Way Back

    By Michael Rainey

    In 2017, Foxconn, a massive electronics manufacturer based in Taiwan, committed to spending $10 billion to build an LCD manufacturing plant in Wisconsin. Fueled by roughly $3 billion in state tax...

  • Men enjoy the afternoon sun at the Brouwersgracht canal in Amsterdam

    Signs of Progress on Global Minimum Tax

    By Michael Rainey

    The Biden administration has proposed a global minimum tax rate of 21% for multinational corporations but needs other counties to agree in order to make the system work. On Monday, Hans Vijlbrief, a...

  • A security camera hangs near a corner of the Internal Revenue Service (IRS) building in Washington

    How Hard Would It Be to Fix the IRS?

    By Michael Rainey

    President Biden is counting on a reinvigorated IRS to help fund some of his more ambitious spending plans, but The Wall Street Journal’s Richard Rubin says Tuesday that revitalizing the agency may be...