Finance, investment and tax-related legislation

The measure is seen as doomed in the Senate, however.

The lame-duck package has been scaled back as the congressional term nears an end.

The Tax Foundation sees the proposal as having 'very small economic impact.'

A bipartisan group of lawmakers in the House has introduced legislation to clarify interstate sales tax collection requirements in the wake of the Supreme Court’s decision this year in South Dakota v. Wayfair.

Senator Bernie Sanders, I-Vt., and Rep. Ro Khanna, D-Calif., teamed up Wednesday to introduce legislation to tax big companies whose wages are so low that their employees are forced to rely on public assistance programs.

The bill, which was introduced by a Texas CPA, would also protect members and their staff.

Senators Rob Portman, R-Ohio, and Ben Cardin, D-Md., introduced bipartisan legislation Thursday to make the Internal Revenue Service more accountable to taxpayers, as well as revive the IRS’s regulation of tax preparers, as a panel of tax experts testified before their subcommittee about improving tax administration at the IRS.

The House approved a repeal of the Affordable Care Act’s medical device tax, along with a bill that prohibits the IRS from rehiring any employee who was fired for misconduct.

A closely divided Senate Finance Committee advanced the nominee for the next Internal Revenue Service commissioner, Charles Rettig, by a vote of 14 to 13, but he awaits a vote by the full Senate.

A new, Republican-led effort to tax carbon dioxide emissions isn’t likely to make it to a vote in the House of Representatives anytime soon — but opponents aren’t taking any chances.