Finance

Senate Finance Committee Chairman Max Baucus, D-Mont., plans to convene a hearing to consider White House proposals for reducing waste and overpayments in the unemployment insurance program.

The Treasury Department released new guidelines for applying for tax credits to fund promising new therapies, with small medical research firms eligible to receive up to $5 million each out of a $1 billion pie.

The Senate voted last week to approve a historic financial regulatory reform bill that would make sweeping changes in how the financial system is regulated.

Connecticut Governor Jodi Rell has vetoed legislation that would have taxed bonuses paid to people who work for financial companies that received federal bailouts.

The Center for Audit Quality and the Council of Institutional Investors are protesting two proposed amendments to the financial regulatory reform bill that would exempt smaller public companies from compliance with Sarbanes-Oxley Section 404(b) audits of their internal controls.

Senate Finance Committee Chairman Max Baucus, D-Mont., and House Ways and Means Committee Chairman Sander Levin, D-Mich., have introduced legislation that would extend unemployment insurance and the 65 percent COBRA health insurance subsidy for the unemployed through the end of the year, as well as many expiring tax breaks.

The majority of leaders at Fortune 1000 corporations support many financial regulatory reforms, according to a new survey, but balk at executive pay limitations and shareholder votes on executive compensation.

Senate Majority Leader Harry Reid, D-Nev., has filed a cloture motion on the financial regulatory reform bill as he pushes for the debate to end this week, but with hundreds of amendments still waiting to be decided, he may not get his wish.

Ernst & Young has joined the U.S. State Department’s new E-Mentor Corps program to provide mentorship to entrepreneurs around the world.

A long-awaited Senate energy and climate change bill is being introduced Wednesday by John Kerry, D-Mass., and Joe Lieberman, I-Conn., with several tax provisions that would benefit nuclear power plants.

Tax accountants and others looking for clues on how the anti-tax Tea Party movement will affect this fall’s national elections received mixed signals from voters in a number of recent ballot initiatives.

The Hawaii legislature has overridden the veto of Hawaii Governor Linda Lingle and passed a strict mandatory peer review law for public accountants.

A group of seven accounting and business organizations are protesting a proposed amendment to the financial regulatory reform legislation from Sen. Sherrod Brown, D-Ohio, that would legislate some accounting standards for financial reporting.

Two weeks after Goldman Sachs was charged by theSecurities and Exchange Commission for fraud, federal prosecutors have begun aninvestigation into the banking giant according to sources.

President Obama has nominated two economists and anattorney to the Federal Reserve Board, bringing the board to its fullseven-member strength for the first time in four years.

Executives from Goldman Sachs faced intense questioning before a Senate subcommittee over the investment bank’s sales of securities that an employee described as “sh***y.”

The initial meeting of the White House deficit commission kicked off as a bipartisan panel considered ways to curb the growing federal budget deficit and the national debt.

The Internal Revenue Service is helping spread the word that the COBRA subsidy eligibility period has been extended to May 31.

The Internal Revenue Service is reportedly investigating Florida senatorial candidate Marco Rubio’s use of a Republican Party credit card.

President Barack Obama visited the Great Hall at Cooper Union in New York to call on Wall Street executives to stop fighting efforts in the Senate to pass financial regulatory reform.