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...

  • House Republicans Unveil Plan for New Tax Cuts

    By Michael Rainey

    Fresh off their battle to cut federal spending in exchange for agreeing to raise the debt ceiling, House Republicans on Friday released plans for a new package of tax cuts that would likely reduce...

  • U.S. President Joe Biden holds debt limit talks with House Speaker Kevin McCarthy at the White House in Washington

    Debt Limit Deal Has No Effect on US Credit Rating: Moody’s

    By Michael Rainey

    The Fiscal Responsibility Act signed into law this past weekend by President Joe Biden eliminates the risk that the U.S. could default on its interest payments, at least until 2025, when a temporary...

  • The U.S. Capitol dome is seen in Washington

    Senate Democrats Take Aim at GOP Tax Cuts as Source of Deficit

    By Michael Rainey

    As House Republicans continue to push for major spending cuts in exchange for raising the debt limit, Democrats on the Senate Budget Committee held a hearing Wednesday to highlight the role that tax...

  • FILE PHOTO: Yellen holds a news conference in Washington

    Time Is Running Out, Yellen Warns

    By Michael Rainey

    Treasury Secretary Janet Yellen on Tuesday called on lawmakers to raise the debt ceiling as quickly as possible, while warning that there would be “widespread suffering” if Congress fails to act. “...

  • Trump speaks with Mexican President Enrique Pena Nieto about NAFTA  at the White House in Washington

    Extending the 2017 Tax Cuts Would Cost $3.5 Trillion: CBO

    By Michael Rainey

    House Republicans are pushing for spending cuts to reduce the deficit in exchange for raising the debt ceiling, but they also hope to extend the package of GOP tax cuts passed under then-President...