-
Former Treasury Secretary Lawrence Summers criticized the stripping of a global corporate minimum tax from the recent tax-and-climate change bill.
August 11
-
About $222.2 billion of the increase on businesses will come from a new corporate minimum tax that requires companies with at least $1 billion in profits to pay a minimum of 15%.
August 10
-
House Democrats who had threatened to block President Biden's tax and climate plan unless it also expanded the deduction for state and local taxes are signaling they'll back the legislation.
August 9
-
After more than a year of stop-and-start negotiations, Democrats agreed to a narrow bill to invest in energy initiatives, curb drug prices and reduce the deficit, paid for by new corporate taxes.
August 8
-
President Joe Biden and Senate Majority Leader Chuck Schumer are the biggest winners now that a huge piece of Democrats' economic agenda is hurtling toward enactment.
August 8
-
The legislation aims to prevent large corporations from exploiting tax breaks to pay little if any tax, and it would allow Medicare to negotiate drug prices for the first time.
August 7
-
A top Democrat pushing for a new minimum tax on companies invoked fresh data showing more than 100 profitable U.S. corporations paying an average tax rate of just 1.1% as a showcase for the initiative.
August 5
-
The path was nearly cleared for one of the cornerstones of President Joe Biden's domestic agenda after Democrats agreed on a revised version of their tax and climate bill.
August 5
-
Included in the $433 billion Inflation Reduction Act is a 10-year production tax credit for nuclear energy producers.
August 4
-
The Senate Democrats' tax, climate and drug-price bill would reduce federal deficits.
August 4
