Joe Biden

A series of tentative compromises were worked out on spending caps, the defense budget and IRS funding.

Biden's team agreed to trim $21 billion over a decade from IRS enforcement and $28 billion from prior COVID spending.

Some Senate Democrats are pushing the Biden administration to impose tough limits on hydrogen tax credits they say will ensure the fuel lives up to its climate-fighting potential.

McCarthy has told Biden that he did not intend to retreat from public refusals to accept additional taxes as part of an agreement.

Republicans rejected a Democratic proposal that would seek to raise revenue by altering a dozen tax provisions.

The Treasury Secretary said her department's ability to use special accounting maneuvers to stay within the federal debt limit could be exhausted soon.

The country remains among the top candidates to host a new Tesla factory.

The Treasury Department, based on fresh tax revenue data, is set to release an updated estimate of the "X date" when the U.S. can no longer meet its obligations.

House GOP leaders also called for the Justice Department to investigate allegations by an IRS whistleblower involving Hunter Biden.

President Joe Biden and First Lady Jill Biden paid $169,820 in federal and state income tax on a combined $579,514 in adjusted gross income, according to their annual tax returns.