Biden Administration

The Biden administration has discussed granting automakers a temporary reprieve from new rules poised to limit a consumer tax credit, a Michigan senator said Tuesday.

Senate Majority Leader Chuck Schumer vowed the Senate won't vote on the House bill and instead will produce a broader emergency package without cuts to the IRS.

House Republicans would paid for aid to Israel by slashing funds for the Internal Revenue Service.

Johnson's plan pays for Israel aid by cutting President Joe Biden's signature Inflation Reduction Act, calling for a $14.3 billion reduction in funding for the IRS.

The Council of Economic Advisers said a reduction in revenues from capital gains taxes has played a notable role in the widening deficit.

More than 3 million workers would be newly eligible for overtime when they work more than 40 hours a week, under a new proposal.

Corn farmers and biofuel producers are poised to gain from turning ethanol into sustainable jet fuel — depending on how Washington writes the tax policy.

Confusion around ever-changing rules, price-sensitivity and other factors have dampened the results of the Inflation Reduction Act's incentives.

The cost of the IRA's uncapped tax credits and incentives is almost impossible to pin down.

The administration could phase in some requirements in a bid to nurture a nascent industry critical to decarbonizing industrial operations.