By Andrew Taylor | 04/02/14 08:19 AM
House Republicans are pressing ahead with a slashing plan to try to balance the budget within 10 years, relying on big decreases in health care programs for the middle class and the poor, as well as tax hikes and Medicare cuts engineered by President Barack Obama.
By Joseph Lawler | 04/01/14 11:14 AM
The Republican budget released Tuesday morning by House Budget Committee Chairman Paul Ryan includes projections that count on added revenue from faster economic growth -- a method often referred to as “dynamic” scoring.
By Philip Klein | 04/01/14 10:30 AM
Throughout his political career, House Budget Committee Chairman Rep. Paul Ryan, R-Wis., has alternated between being the Republican Party's courageous idea man and serving as one of its loyal soldiers.
By Associated Press | 04/01/14 09:15 AM
Executives from manufacturing giant Caterpillar Inc. are heading to Capitol Hill to explain what one senator calls an aggressive strategy to avoid paying billions of dollars in U.S. taxes. Caterpillar has avoided paying $2.4 billion in U.S. taxes since 2000 by shifting profits to a...
04/01/14 05:00 AM
TOKYO (AP) — Japan raised its sales tax Tuesday, moving to stabilize government finances but at the risk of undermining a shaky economic recovery. It's a gamble the world's No. 3 economy must take, given its soaring public debt. Economists expect the sales tax hike, to 8 percent from 5...
03/31/14 09:52 AM
SANTA FE, N.M. — The city of Santa Fe has sued the builder of its convention center and alleges the company has refused to return a $600,000 tax refund that the city says was an overpayment. The Santa Fe New Mexican reports that lawsuit asks a court to find that the city is entitled to...
By Paul Bedard | 03/28/14 02:12 PM
It's about time the Democrats rewarded former Republican President George H.W. Bush for caving in on his “no new taxes” pledge in a compromise with liberals that helped to kill his re-election. The John F. Kennedy Library Foundation said it planned to name the 41st president this year's...
By Philip Klein | 03/27/14 05:32 PM
In the coming weeks, Americans will spend an average of 13 hours and $210 to prepare their federal taxes. Beyond the compliance burden the federal tax code imposes, it also distorts economic activity and discriminates against some taxpayers in favor of others. But one of its most egregiously...
03/27/14 04:00 PM
LANSING, Mich. (AP) — In a March 19 story, The Associated Press paraphrased George Peridas, a Natural Resources Defense Council environmental scientist, as saying that sustainable energy is still a luxury at this time. Peridas instead said that sustainable energy production currently is...
By Associated Press | 03/27/14 09:13 AM
McCrory told a North Carolina Chamber conference the state's transportation projects will be delayed if Congress fails to re-authorize a law expiring this fall.
By Sophia Tareen | 03/27/14 08:37 AM
Gov. Pat Quinn knows trying to make the state's temporary income tax increase permanent will be a "tough choice" for Illinois lawmakers, but that the issue could be even tougher for voters who'll decide if the Chicago Democrat gets another term.
By Josefa Velasquez | 03/26/14 08:37 AM
New York legislative leaders who met for hours behind closed doors Tuesday trying to finalize the state budget due next week came away saying they were making progress.
By Sophia Tareen | 03/26/14 08:32 AM
Quinn is expected to stress his election-year theme of protecting the middle class as he presents a budget address Wednesday that political experts and lawmakers say could be his toughest yet.
03/25/14 06:45 PM
WASHINGTON (AP) — Virtual currencies like bitcoin will be taxed like property — not currency, the Internal Revenue Service said Tuesday. The IRS says bitcoin is not legal tender. You can't use it to pay your taxes. However, if you receive wages in bitcoin, you have to pay taxes on it just...
By Betsy Woodruff | 03/25/14 06:13 PM
A Democratic Congressional candidate in California has been hit with a penalty after failing to pay all the taxes due on her Washington, D.C., apartment. Amanda Renteria, who is challenging incumbent GOP Rep. David Valadao, has outstanding taxes due on the D.C. row house she owns with her...
By Charles Hoskinson | 04/17/14
By Byron York | 04/17/14
By Joel Gehrke | 04/17/14
By Susan Ferrechio | 04/16/14
By Sean Higgins | 04/17/14