Politics

The U.S. House of Representatives won’t implement President Donald Trump’s order allowing employers to defer payroll taxes owed by workers, joining major companies in rejecting the option.

Levies on most households below the top income brackets would stay about the same as under Trump.

Senate leaders will be trying to hold their parties together for a vote Thursday to advance a slimmed-down stimulus bill that Democrats have already rejected, with both sides jockeying for advantage in public perceptions two months before the election.

The Democratic presidential nominee is proposing a 10 percent tax penalty on companies that move operations overseas and a 10 percent tax credit for companies that create jobs in the U.S.

The Trump administration’s signature tax break to help poor communities may or may not be working.

The Democratic presidential nominee Joe Biden expressed optimism and hope about overcoming the economic crisis and other challenges during his acceptance speech at the virtual Democratic National Convention.

President Donald Trump said he’ll punish American companies that move jobs abroad and reward firms with tax breaks for shifting work from China to the U.S., proposals aimed at hastening the decoupling of the world’s largest economies.

Democrats are demanding more Republican concessions to meet an end-of-the-week deadline for a deal on pandemic relief, and one of the chief White House negotiators warned there is little time left for negotiations.

Talks to break an impasse over a new virus relief package become increasingly urgent this week with millions of jobless Americans left without additional aid, and the Senate scheduled to leave for an extended break on Friday.

With Joe Biden leading President Donald Trump in the polls, some investors are concerned the age of corporate tax cuts and deregulation may soon end, replaced by a Democratic administration eager to soak the rich.