Conservation Tax-Break Deals Keep Flowing Despite IRS Crackdown
WASHINGTON—More than six years into an Internal Revenue Service clampdown on what the agency says are abuses of land-conservation tax...
Government Finance
Inflation Weighed on Consumer Spending Growth in February
Consumer spending growth, a key engine of the economy, slowed sharply in February, as the Omicron surge of Covid-19 eased...
Biden’s Budget Calls for Increase in Defense Spending, Including Funds for Ukraine
WASHINGTON—President Biden on Monday released a $5.8 trillion budget that envisions a substantial increase in U.S. defense spending, a sign...
IRS Delays, Sudden End to Tax Break Leave Employers Frustrated With Covid Credits
IRS processing delays and federal policy changes are creating headaches for businesses and nonprofits using a popular wage subsidy that...
Biden Emphasizes Deficit Reduction in Bid to Pass Economic Agenda
WASHINGTON—The Biden administration and top Democrats are embracing efforts to reduce the federal deficit as they seek to gain support...
Negotiators Try to Complete Omnibus Spending Bill With Ukraine, Covid-19 Aid
WASHINGTON—House Democratic leaders said they plan to hold a vote Wednesday on a bill to fund the federal government for...
Fiscal Stimulus Is Turning Into a Fiscal Drag, in a Big Headwind for Growth
The federal pandemic support that helped propel the economy to blistering growth last year and put upward pressure on inflation...
Some Lawmakers Want to Halt Gas Tax Amid High Inflation. Others See a Gimmick
WASHINGTON—A push by some Senate Democrats to suspend the federal gasoline tax is running into opposition from both Republicans and...
Senate Republicans Block Vote on Biden’s Fed Nominees
WASHINGTON—Senate Republicans refused to attend a crucial committee vote on President Biden’s nominees to the Federal Reserve over a disagreement...
Economy Week Ahead: Fed, GDP, Consumer Spending
Fed Chairman Jerome Powell. The central bank’s two-day policy meeting is scheduled to conclude on Wednesday. Photo: Graeme Jennings/Press Pool...
U.S. to Spend $10 Billion to Boost Small Businesses
The U.S. is planning to hand out $10 billion to help upstart companies gain access to capital in a bid...
Headaches and Backlogs Loom as Tax Filing Season Nears Again
WASHINGTON—The third tax-filing season during the coronavirus pandemic is set to begin soon with more delays, uncertainty and frustration likely...
Elon Musk Comes Out Against Federal Electric-Vehicle Spending
Elon Musk took aim at a signature Biden administration legislative proposal and said China is adjusting to its growing position...
Economy Week Ahead: Home Sales, Consumer Spending, Inflation
Reports on U.S. consumer spending and inflation highlight this holiday-shortened week. Outside of regular data, markets are also waiting for...
Tax Plan Inflames Democratic Debate in Senate Over Biden’s $2 Trillion Spending Bill
WASHINGTON—House passage of Democrats’ $2 trillion education, healthcare and climate package has inflamed an intraparty debate about whether the bill...
House Passes Roughly $2 Trillion Social Spending and Climate Bill
WASHINGTON—The House passed a roughly $2 trillion education, healthcare and climate package on Friday, as Democrats corralled their slim majority...
Federal Government Could Be Unable to Pay Bills as Soon as Dec. 15, Yellen Says
The U.S. government could run out of resources to meet the nation’s obligations as soon as Dec. 15, Treasury Secretary...
Federal Deficit Narrowed in October, Ahead of Debt-Ceiling Debate
The federal government ran a $165 billion deficit during October, a smaller gap when compared with a year earlier, as...
Electric-Vehicle Charging Stations Win Jolt of Energy in Congress
The roughly $1 trillion infrastructure package passed by Congress on Friday provides a spark to efforts to build a national...
Infrastructure Law Seen Having Small, Positive Impact on Growth
The roughly $1 trillion infrastructure package just passed by Congress will modestly help the economy in the short run while...
