The US economy shrank an unexpected 2.9 percent in the first three months of 2014, its worst performance in five years. Happily, experts see signs of a strong economic rebound for the rest of the year.
IRS commissioner John Koskinen appeared before the House Oversight and Government Reform Committee on the loss of former Treasury official Lois Lerner’s emails and crash of her hard drive. Meanwhile, the federal gasoline tax could be phased and leave the Highway Trust Fundthe House Ways and Means Committee plans to vote on indexing the $1,000 child tax credit.
The House Oversight and Government Reform Committee will begin its two-part hearing on missing IRS emails today. Tomorrow, the Senate Finance Committee will examine the role of the tax system in reducing student debt.