Finance

The 18-member commission appointed to recommend ways to cut the federal budget deficit and national debt was unable to reach the 14-member threshold required to approve a final report and send it to Congress.

The U.S. economy gained only about 39,000 jobs in November, far fewer than expected, sending the unemployment rate up two-tenths of a percentage point to 9.8 percent, and putting more pressure on Congress to pass an extension in federal unemployment benefits.

Senate Finance Committee Chairman Max Baucus, D-Mont., has introduced a package of tax cuts for middle-class families after the House passed tax cut legislation Thursday extending the Bush-era tax rates.

Preparers looking for a wish list of provisions for the lame duck session of Congress to pass have a number of items to consider.

The House voted Thursday to censure former House Ways and Means Committee Chairman Charles Rangel, D-N.Y., for violations of ethical rules.

House Democrats passed a tax cut package on Thursday aimed at extending the Bush-era tax cuts for taxpayers who earn below $250,000, but the prospects for passage in the Senate will depend on the deal worked out by a bipartisan group of four lawmakers and two Obama administration officials.

The Senate has unanimously approved a clarification to the Federal Trade Commission’s oft-delayed Red Flags rule after lobbying by the American Institute of CPAs and a variety of state CPA societies.

House Ways and Means Committee Chairman Sander Levin, D-Mich., introduced legislation Wednesday that would extend the Bush-era tax cuts only for those making less than $250,000 a year, and provide a two-year AMT patch.

One promising sign of President Obama’s meeting with congressional leaders Tuesday was that he didn’t emerge with his lip bleeding from a fresh elbow jab in the face.

The Senate failed Tuesday to pass legislation to continue eligibility for federal unemployment benefits for one year.

President Obama met with congressional leaders on Tuesday to discuss the fate of the Bush tax cuts, along with other tax extender items and the extension of unemployment benefits.

The Senate voted Monday evening on a competing pair of amendments to repeal the expanded 1099 information reporting requirements that were included in the health care reform bill, but failed for the second time this fall to roll back the controversial requirements.

Senate Finance Committee Chairman Max Baucus, D-Mont., introduced legislation Monday to continue for one year eligibility for federal unemployment insurance benefits for jobless workers.

President Obama described his negotiating position on the soon-to-expire Bush tax cuts during a visit to a Chrysler transmission plant in Indiana.

The incoming Congress already appears intent on weakening the financial reform legislation passed by the outgoing Congress.

The Securities and Exchange Commission has voted to propose new rules to strengthen the SEC's oversight of investment advisers and fill important gaps in the regulatory landscape.

The Senate has approved funding for a $3.4 billion settlement in a long-running dispute involving the mismanagement of Indian Trust lands and the federal government’s failure to provide a regular accounting for the beneficiary trust funds and assets.

Congressman Charles Rangel, D-N.Y., faces censure from his colleagues in the House for ethical violations involving taxes, unreported income and other matters.

The Government Accountability Office has produced a report looking at the tax compliance benefits and costs of 1099-MISC information reporting, which has been expanded under the health care reform bill.

House Republicans blocked a three-month extension of unemployment benefits, which are set to expire on Nov. 30.