Laura Davison

The move caps a three-year legal saga initiated by Democrats to obtain and release the former president's closely held financial documents.

Republicans — who are expected to control the House as of January — want tax breaks for private equity, manufacturers and businesses. For their part, Democrats want to expand the child tax credit.

Estate tax collections in 2021 hit their highest levels since former President Donald Trump's tax cuts took hold, a stark trend reversal that experts attribute to one-off pandemic factors.

Grand tax cuts have long been a centerpiece of Republican economic orthodoxy, appealing to the well-to-do who want to keep more of their income and stock-market gains. There's one problem, economists say.

The three lawmakers vying to chair the powerful Ways and Means Committee — Vern Buchanan of Florida, Jason Smith of Missouri and Adrian Smith of Nebraska — embody the ideological tension within the Republican Party.

Eric Adams released his 2021 tax returns on Friday, six months after he pledged to provide the public with the information.

The desire to use free cash to buy back shares appears to be stronger than any deterrent created by the tax.

Congressional Democrats are urging the Treasury Department to ignore appeals by lobbyists to weaken the 15% minimum levy on domestic corporations.

Business Roundtable Chief Executive Officer Joshua Bolten on Wednesday flagged concerns that reviving the deduction for R&D will fall off of Congress's agenda later this year, despite it having bipartisan support.

The president is likely to nominate Beth Kaufman, a partner at the law firm Caplin & Drysdale, to be IRS chief counsel.