Tax reform

His plan includes a proposal to almost double the capital gains tax rate for wealthy individuals to help pay for a raft of social spending, according to people familiar with it.

Democrats are making another push for the Biden administration to include a repeal of the cap on state and local tax deductions in its long-term economic program.

Lawmakers should closely study the impact of the deduction before making changes, the No. 3 House Democrat James Clyburn said.

There are financial, operational and remedial measures that companies can implement to mitigate the eventual impact of the administration's tax plan.

The Netherlands, long considered to be at the heart of a system of multinational corporate profit-shifting, has signaled that it’s ready to support a U.S. proposal that ends the practice.

Trump’s legislative triumph has put President Biden in a bind.

Increasing funding for the IRS enforcement efforts could yield enough to pay for reinstating the full deduction.

President Joe Biden is asking congressional Democrats to vote for a tax increase that will test a long-held liberal article of faith: that many wealthy Democrats won’t mind paying more in taxes if they can be convinced the money would lead to greater prosperity for everyone.

Democratic and Republican House members are forming a bipartisan group to push for a repeal of the $10,000 cap on state and local tax deductions, demonstrating a broadening campaign to restore a valuable tax break.

The top Republican on the House Ways and Means Committee said he would leave Congress at the end of this term.