Biden to Announce Student Loan Forgiveness Plan
President Biden is planning to take executive action to forgive $10,000 or more in federal student loan debt for tens...
taxation
Rivian Says Senate Climate Deal Puts It at Disadvantage
Electric-vehicle startup Rivian RIVN 0.57% Automotive Inc. is warning that planned revisions to the EV tax credit would put the...
Treasury Moves to Ease Limits on Foreign Tax Credits After Companies Object
WASHINGTON—The U.S. Treasury Department is softening its limits on foreign tax credits, responding to corporations that have been warning about...
Global Tax Talks Hit Another Delay
The most significant changes to global tax rules in a century will take longer than planned, negotiators said Monday, as...
Miami’s Gold Rush: Finance Firms and Crypto Move In, Bringing Strains
From his new office in Miami Beach, real-estate investor Barry Sternlicht is only steps from the ocean. His waterfront mansion...
Biden Expected to Call for Temporary Federal Gasoline Tax Suspension
WASHINGTON—President Biden is planning to call for a temporary suspension of the federal gasoline tax, according to people familiar with...
Biden Says He Is Near Decision on Backing Federal Gasoline-Tax Holiday
WASHINGTON—President Biden said Monday that he may make a decision on seeking a pause to the federal gasoline tax by...
Individual Income Tax Payments on Pace to Reach Record Level
WASHINGTON—An unprecedented gush of income tax revenue is flowing into the federal government, driven in part by investors and business...
Treasury Releases Pandemic Funding for Small Businesses as They Face New Risks
A federal pandemic aid program aimed at boosting small businesses’ access to capital is getting off the ground more than...
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...
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...
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...
