Latest National taxes News

Biden sells G-7 on global tax, but U.S. Congress is a hurdle

Jun. 12, 2021 00:17 AM EDT

President Joe Biden might have persuaded some of the world's largest economies to hike taxes on corporations, but the U.S. Congress could be a far tougher sell. White House press secretary Jen Psaki said Friday that leaders of the Group of Seven — which also includes...

New Mexico seeks reforms at unemployment agency

Jun. 11, 2021 19:24 PM EDT

SANTA FE, N.M. (AP) — New Mexico Gov. Michelle Lujan Grisham vowed Friday to replenish the state's indebted unemployment insurance trust fund with federal relief funds to avoid future tax increases to businesses and said a $300 weekly federal bonus to unemployment benefits will continue...

Biden sells G-7 on global tax, but U.S. Congress is a hurdle

Jun. 11, 2021 17:50 PM EDT

President Joe Biden might have persuaded some of the world's largest economies to hike taxes on corporations, but the U.S. Congress could be a far tougher sell. White House press secretary Jen Psaki said Friday that leaders of the Group of Seven — which also includes...

Harris touts child care funding and payments to families

Jun. 11, 2021 15:24 PM EDT

Vice President Kamala Harris highlighted the Biden administration's efforts to expand child care and relieve the financial pressures of parenthood during a visit to a child care center on Friday. Harris is discussing new guidance on $15 billion in grants to support child...

EXPLAINER: Curbing tax avoidance by multinational companies

Jun. 11, 2021 13:15 PM EDT

FRANKFURT, Germany (AP) — How can governments keep multinational companies from avoiding taxes by shifting profits to subsidiaries in low-tax countries? Years of international discussion over the issue gathered momentum after U.S. President Joe Biden proposed a global...

Senators eye $579B in new infrastructure spending, $1T plan

Jun. 11, 2021 00:26 AM EDT

WASHINGTON (AP) — A bipartisan group of senators is eyeing an infrastructure deal with $579 billion in new spending as negotiators try to strike a nearly $1 trillion deal on President Joe Biden's top priority, according to those briefed on the plan. The 10 senators...

Senators eye $579B in new infrastructure spending, $1T plan

Jun. 10, 2021 22:21 PM EDT

WASHINGTON (AP) — A bipartisan group of senators is eyeing an infrastructure deal with $579 billion in new spending as negotiators try to strike a nearly $1 trillion deal on President Joe Biden's top priority, according to those briefed on the plan. The 10 senators...

Leak of billionaires' tax data draws GOP outcry over privacy

Jun. 10, 2021 17:12 PM EDT

WASHINGTON (AP) — Republicans in Congress are alarmed by the leak of confidential IRS data to the investigative news organization ProPublica, enabling it to reveal that famous billionaires including Warren Buffett, Bill Gates and Mark Zuckerberg paid little in U.S. income tax at times. A...

NC Republicans finally agree on next year's spending total

Jun. 08, 2021 23:32 PM EDT

RALEIGH, N.C. (AP) — Republicans in the North Carolina legislature have finally agreed on how much they want to spend on state government next year, loosening a fiscal knot that delayed House and Senate budget work for weeks. GOP leaders in the two chambers have set...

ProPublica: Many of the uber-rich pay next to no income tax

Jun. 08, 2021 15:17 PM EDT

WASHINGTON (AP) — The rich really are different from you and me: They’re better at dodging the tax collector. Amazon founder Jeff Bezos paid no income tax in 2007 and 2011. Tesla founder Elon Musk’s income tax bill was zero in 2018. And financier George Soros went...