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House passes Biden aid with $1,400 checks; focus moves to Senate

The House passed President Joe Biden’s $1.9 trillion pandemic-relief plan, spanning $1,400 stimulus checks, enhanced jobless benefits and fresh funding for vaccines and testing. Also included: a minimum-wage measure with no prospects of passing in the Senate.

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Corporate-tax proposal in Senate stokes economists’ concern

A fresh initiative in the U.S. Senate to put a tax penalty on big companies as a way of forcing higher minimum wages prompted a skeptical reaction among economists including a top adviser to former President Barack Obama.

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Tax policy shifting this year under Biden

The Biden administration is likely to dramatically change its approach to tax policy, with the first step in the stimulus package it began pushing through Congress this month.

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SALT-cap repeal unlikely to be added to COVID-19 relief bill

Hopes among millions of upper-income and middle-class taxpayers for a repeal of the Trump administration’s limits on their federal deductions will likely be on hold for now, as an effort to include the measure in the COVID-19 aid package is ...

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Romney pitches expanded child tax credit, echoing Biden

Senator Mitt Romney is offering a child tax credit expansion plan similar to a proposal President Joe Biden is pushing to include in the next stimulus bill, offering a glimpse of areas on which Republicans and Democrats could find compromise ...

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Democrats aim for SALT write-off expansion in stimulus bill

Two New Jersey Democrats are leading an effort to expand a valuable tax break for state and local levies in the next virus-relief package, a long-shot effort as lawmakers continue to squabble over the size and scope of the next ...

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Yellen talks digital taxes with U.K., Germany in initial calls

U.S. Treasury Secretary Janet Yellen on Wednesday talked with her U.K. and German counterparts about resolving mushrooming disputes over the taxation of internet giants such as Facebook Inc., highlighting the issue as a priority in her initial bilateral calls.

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