The House Ways and Means Subcommittee on Oversight will review review the government’s ability to verify income and insurance information when it comes to the Affordable Care Act’s tax credits and subsidies on June 10. Meanwhile, Spain joins a growing list of countries that wants to lower the corporate income tax.
Those tax goodies – tax breaks for everything from corporate research to teachers' unreimbursed class expenses – have expired again. Congress always renews them. But Congress would do the nation a favor by not extending them until it tackled serious tax reform.
Another decade of these lower tax rates for the wealthiest 5 percent of Americans would cost the US Treasury around $2 trillion – more than the amount of deficit reduction (at least $1.2 trillion) the debt super committee must find.
The oil industry is under fire from congressional Democrats for reaping big tax breaks even while amassing huge profits. Executives from major oil companies testified Thursday on Capitol Hill.
As Republicans square off with the Obama administration on how much to tax the wealthiest Americans, a new report suggests the overall tax burden does not vary much by income level.
Two years ago, bankers visited the White House to talk about a bailout. Last year, President Obama met with bankers to discuss improving the economy. What will today's meeting discuss?