Biden Administration

U.S. gasoline prices are still high a week ahead of midterm elections.

Treasury Secretary Janet Yellen is throwing cold water on expectations that the agency will provide relief to foreign automakers lobbying against stringent limits on a popular electric-vehicle tax credit.

Hyundai Motor Co. and the South Korean government are ratcheting up lobbying to loosen restrictions that Senator Joe Manchin fought to include in this year's U.S. climate law.

The Treasury Department and the Internal Revenue Service issued final regulations to eliminate a so-called "family glitch" in qualifying for premium tax credits.

The 15% minimum tax in the legislation passed by Congress shouldn't be confused with the one that the Treasury has been encouraging countries to approve.

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

The Biden administration is alarmed over the market turmoil triggered by the new U.K. government's economic program.

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.