Biden Administration

While the immediate threat of a default would recede, the deal would merely delay the fight to December.

The president has warned progressives that they will have to temper expectations for the final legislation.

Biden informed Democrats that a separate infrastructure bill would need to wait until the social welfare and tax package was complete.

House Speaker Nancy Pelosi is giving lawmakers until Halloween to strike a deal.

Manchin said any new programs should be means-tested and that the tax offsets should include elimination of the carried-interest provision that especially benefits private equity firms.

Financial institutions aim to stop a measure that would require banks to hand over some account information to the IRS.

The 140 countries attempting to conclude years of negotiations are racing against a ticking clock.

The prospects for specific tax changes in the Build Back Better Act appear murky right now, but there could be more clarity later this week.

The specific tax hikes remain to be detailed, as does any move to suspend or expand a $10,000 SALT cap.

The economic package would raise $2.1 trillion in revenue through measures including tax increases on corporations and the wealthy.

The law professor who’s coordinated President Biden’s sweeping tax proposals is finding that many Democrats don’t share his zeal to soak the rich.

Democrat legislators are attempting to move forward with the next step needed to pass President Biden’s economic agenda.

The administration struggles to unite Dems behind a bill that can pass in the face of united Republican opposition.

The 400 wealthiest families slashed their income tax to an average rate of 8.2% from 2010-2018 because of preferential capital gains rates.

The fate of President Joe Biden’s economic agenda rests largely on Speaker Nancy Pelosi navigating deep Democratic rifts and the minefield of promises she’s made to keep the party’s moderate and progressive wings moving toward her goal.

High-earning taxpayers would face much smaller tax hikes — or even cuts — if Democrats decide to restore the federal deduction for state and local taxes in legislation that’s now moving through the House.

The biggest set of U.S. tax increases in a generation took a major step forward on Wednesday.

The proposal to end the step-up in basis was already facing obstacles before it was left out of draft legislation.

President Joe Biden’s push to ramp up taxes on the wealthy is getting diluted by his Democratic allies in Congress, undermining his chances of fully delivering on his 2020 campaign pledge to curb America’s widening inequality.

Lawmakers are seeking to extend the recently expanded tax break through 2025, endorsing a key component of the president’s social safety net plan.