Laura Davison

Sen. Ron Wyden proposes ending existing tax breaks for fossil fuels and creating new incentives for low-and-no carbon energy sources.

President Joe Biden told a group of lawmakers that a permanent expansion could be difficult to pass the Senate.

Lawmakers should closely study the impact of the deduction before making changes, the No. 3 House Democrat James Clyburn said.

Trump’s legislative triumph has put President Biden in a bind.

Increasing funding for the IRS enforcement efforts could yield enough to pay for reinstating the full deduction.

Democratic and Republican House members are forming a bipartisan group to push for a repeal of the $10,000 cap on state and local tax deductions, demonstrating a broadening campaign to restore a valuable tax break.

The top Republican on the House Ways and Means Committee said he would leave Congress at the end of this term.

Seventeen Democrats told House Speaker Nancy Pelosi they would be ready to oppose any tax legislation that doesn't restore the break.

The new figure for the tax gap is multiples higher than previous estimates from the federal government.

States that pass tax cuts to conform with recent federal tax changes won’t run afoul of a rule that says states can’t use federal stimulus funding to pay for cuts.