Finance, investment and tax-related legislation

Under the Senate legislation, if a company can’t show that it is not under control of a foreign government, or the PCAOB isn’t able to audit the company for three consecutive years to determine that is the case, the company’s securities would be banned from the exchanges.

The Senate overwhelmingly approved legislation Wednesday that could lead to Chinese companies such as Alibaba Group Holding Ltd. and Baidu Inc. being barred from listing on U.S. stock exchanges amid increasingly tense relations between the world’s two largest economies.

The measure, passed 208-199, would give cash-strapped states and local governments more than $1 trillion while providing most Americans with a new round of $1,200 checks

Republicans universally rejected a $3 trillion stimulus measure drafted by House Democrats to bolster the U.S. economy, but the draft plan has the seeds for an eventual, smaller compromise.

House Democrats proposed a $3 trillion virus relief bill Tuesday, combining aid to state and local governments with direct cash payments, tax breaks, expanded unemployment insurance and food stamp spending as well as a list of progressive priorities like funds for voting by mail and the troubled U.S. Postal Service.

A bipartisan group of lawmakers introduced legislation Wednesday to enable small businesses to deduct their expenses even if they have received a loan from the federal government’s Paycheck Protection Protection Program that was later forgiven.

The measure contains tax relief for both businesses and individuals, and other stimulus measures.

Republican staff on the Senate Finance Committee have released a set of answers to frequently asked questions about the stimulus payments.

The Senate voted 96-0 late Wednesday to approve a sweeping $2.2 trillion stimulus package to help the nation emerge from the coronavirus pandemic.

Large retailers like Walmart Inc. and Target Corp., as well as student loan borrowers, are on a long list of potential winners from tax breaks included in a $2 trillion coronavirus relief bill approved by the Senate.

The payments are one of the central provisions of the $2 trillion stimulus package awaiting a Senate vote.

Days of negotiations between the Trump administration and Congress — and fierce lobbying by industries eager for assistance dealing with the coronavirus outbreak — has yielded a rescue package worth more than $2 trillion in spending and tax breaks.

Republicans and Democrats in the Senate have released separate sets of tax proposals aimed at alleviating the effects of the coronavirus pandemic, in contrast to the two bipartisan bills that have been signed into law already.

A centerpiece of the package is tax rebates to individuals of $1,200 and $2,400 for married couples. Rebates are completely phased-out for taxpayers with incomes exceeding $99,000 for individuals or $198,000 for a couple.

Bipartisan legislation would extend the deadline after guidance from the Treasury Department fell short.

The law to boost retirement planning has tax consequences.

The purpose of the SECURE Act is to incentivize employers to offer retirement plans as well as to improve individual retirement savings outcomes for the millions of Americans without adequate retirement savings.

The ranking Republican on the House Financial Services Committee proposed an amendment that would stop the panel from even thinking about taxing trades of stocks, bonds and derivatives.

A group of Democrats in the House and Senate has introduced legislation that would require large multinational corporations to provide country-by-country financial reports indicating whether they are using offshore tax havens.

Comparing the tax platforms of the Democratic candidates.