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Senate Democrats are jettisoning a proposal to penalize corporations that don’t raise the minimum wage for their lowest-paid workers in an effort to keep President Biden’s broader stimulus plan on track.
March 1
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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.
February 27
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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.
February 27
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Two members of Congress teamed up Friday to introduce a bipartisan bill that would offer tax credits for income from tips to beauty salon owners and workers.
February 19
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House Democrats are proposing two pieces of legislation that would also provide more funding for the Internal Revenue Service.
February 18 -
A bipartisan group of Senate lawmakers has introduced legislation to make the Work Opportunity Tax Credit a permanent part of the Tax Code.
February 10
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The GREEN Act would encourage residential investments in green energy and energy efficiency, and incentivize greater adoption of zero-emission vehicles, among other things.
February 9
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House Democrats on Monday released the first draft text for key pieces of legislation that will comprise President Joe Biden’s COVID-19 relief bill.
February 9
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House Democrats are proposing to limit the next round of COVID-19 relief payments to households earning less than $200,000, after criticism that President Joe Biden’s $1.9 trillion stimulus package would benefit the rich.
February 9
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The Senate voted 51-50, after Vice President Kamala Harris broke her first tie, to adopt a budget blueprint for President Joe Biden’s $1.9 trillion virus relief package — following nearly 15 hours of wading through amendments from both parties.
February 5
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Democrats’ go-it-alone stimulus plan faces night of GOP sniping
February 4
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Tax professionals rate which of the president’s proposals they expect to see him pursue.
February 4
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Senator Elizabeth Warren will join the Finance Committee, an A-list Senate panel that oversees tax, trade and health care legislation, according to a person familiar with the assignment.
February 3
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Democrats are pushing a tax cut that would benefit individuals who lost their jobs in 2020 and may be in for a surprise tax bill this spring.
February 3
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The Consolidated Appropriations Act includes a surprising number of tax provisions, many of which had not been widely publicized until the final bill was up for a vote.
February 2
Wolters Kluwer Tax & Accounting -
Senators and House members introduced legislation to help taxpayers survive the pandemic, with tax credits for developers revitalizing homes in “distressed” neighborhoods and enabling small businesses to pay essential expenses.
January 29 -
The latest stimulus package includes a number of provisions that make some major adjustments to the Paycheck Protection Program. Erik Asgeirsson of CPA.com and Lisa Simpson of the AICPA discuss the latest changes, and how accountants should be working with clients to make the most of them.
January 4
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The legislation is in reaction to U.S. regulators being unable to review the companies' financial audits.
December 2
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An excise tax cut for brewers, wine makers and distillers has bipartisan support.
December 1
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Regardless of who wins the White House, the scope for tax legislation in the near term will be limited.
November 4
