Laura Davison

For Americans worried about rising prices and shrinking household budgets, January could bring another blow to the bottom line.

Key negotiators continue to clash over the specific income limits for one of the unresolved issues in President Joe Biden’s economic agenda.

One key holdout — Senator Joe Manchin — said he’s skeptical he can vote for a bill that includes major economic changes.

Senate Democrats negotiating an expansion of the state and local tax deduction aren’t near a deal, raising the prospect that talks will spill into next week — and potentially next year.

The Business Roundtable is officially opposing Biden’s economic legislation because they believe the tax increases on corporations outweigh the good in the legislation.

Negotiations over the deduction hit a new snag with two key lawmakers at odds over whether the plan should raise revenue for other spending priorities.

Whether a rich person will pay more or less in taxes largely depends on just how much income they get, and how it’s earned.

The House passed a roughly $2 trillion bill incorporating the core of President Joe Biden’s economic agenda — ramping up funding for the social safety net and increasing taxes on corporations and the wealthy — sending it on to the Senate, where it’s likely to be significantly reshaped.

Dueling proposals would deliver large tax cuts to the wealthy while failing to do much for middle-income households, according to a new analysis from.

The service seized $3.5 billion worth of cryptocurrencies during fiscal 2021, according to an IRS criminal investigation annual report

Well-off professionals in costly areas of the U.S. are set to get a windfall from competing plans to change the deduction limit for state and local taxes.

Sen. Bernie Sanders is working on a proposal to set an income threshold for an unlimited state and local tax deduction.

Legislators are anticipating the Congressional Budget Office projections, which will be released by Friday.

Despite a host of issues, they aim to vote this week on the roughly $2 trillion tax and spending bill.

Lawmakers representing high-tax areas are pushing to make the SALT deduction on federal income taxes a priority.

Middle-class households in New Jersey and other high-tax states would benefit from an expansion of the deduction, a key House Democrat said.

There were last-minute changes on modifying the SALT deduction and a provision allowing Medicare to negotiate drug prices.

Congressional Democrats floated fresh proposals on how to increase the federal deduction on state and local taxes, but House and Senate lawmakers were at odds over whether the very rich should be allowed to take the tax break.

Democrats have found new urgency to pass the roughly $1.75 trillion tax and spending plan as well as an infrastructure bill with $550 billion in new spending after being stung by a Republican sweep of statewide races in Virginia.

The move would help offset the benefits from a proposed expansion of the federal deduction of state and local taxes.