Laura Davison

The West Virginia senator opposes changes to the state and local tax deduction.

Senate Majority Leader Chuck Schumer and West Virginia Senator Joe Manchin released the outline of a tax, climate and health care deal on Wednesday, in what could prove to be a major breakthrough after weeks of negotiations.

The U.S. would collect an additional $318.7 billion over the next 10 years by implementing the 15% global minimum tax and exercising the undertaxed-profit rule.

Lawmakers are discussing a one-year extension to a tax break for R&D costs that expired at the end of 2021.

The Senate’s arcane budget rules threaten Democrats’ plans to increase taxes on the wealthy and corporations and invest in climate programs.

Time is running out as Democrats only have until Sept. 30 to use the fast-track budget reconciliation process to pass a bill.

A Senate plan to expand taxes on some businesses to bolster Medicare raised alarms about inflation, potentially complicating Democrats’ attempt to pass a broad economic package.

The state and local tax deduction issue threatens to spark a showdown among Democrats as high-stakes Senate talks inch closer to a deal on President Biden’s economic agenda.

The Senate GOP leader said he will block bipartisan legislation to boost U.S. competition with China.

Senate Democrats are working on shrinking the tax increases in the president's economic package as part of a bid to get it passed in the coming weeks.

Oil companies that record a profit margin better than 10% would face a proposed new federal surtax, as Democrats struggle to curb U.S. energy costs and broader inflation.

The Senate Finance chairman is investigating the embattled drugmaker and formula producer’s low tax rates, alleging the company’s investments in stock buybacks may have driven the nationwide formula shortage.

The 15% minimum tax deal needs congressional approval, but lacks the universal support of Democrats and faces concerted Republican opposition.

They are pushing to help truckers, Uber and Lyft drivers, and other transportation businesses as they struggle with soaring gas prices.

International tax officials have identified more than 50 leads to potential crypto tax crimes that may lead to official investigations.

In recent days, Biden and his aides have repeatedly cited Republican Senator Rick Scott’s “Rescue America” plan — from February.

A research note from Barclays paints a picture of an exploding new industry that the IRS is struggling to hold to account. 

A record tax haul for the federal government this spring shrank the budget deficit and surprised Wall Street.

Only a tiny fraction of those who could file their taxes for free are actually accessing the no-cost program, according to a new watchdog report.

Musk is using a strategy favored by many billionaires — borrowing against highly appreciated stock to get cash without having to sell.