Biden Administration

A proposal is expected as early as next week as part of the administration's tax increases to fund social spending in the forthcoming “American Families Plan.”

The Treasury secretary has previously said she would work with Congress on ways to ease the “disparate treatment” across taxpayers from the deduction limit.

As Congress considers Biden’s $2.25 trillion spending and tax proposal, party members are being explicit with their constituents about how much it’ll cost them.

The former CFTC chair is expected to face intense pressure from progressive Democrats in his new role, many of whom want him to promptly toughen oversight.

The majority of the latest payments went to Social Security recipients and beneficiaries.

Advisors are urging clients to make tax-planning moves this year to preserve the preferential capital gains rate and turbocharge business deductions.

“We need to study just what impact it’s had,” the Treasury secretary said during a House Financial Services Committee hearing Tuesday.

The bank joined dozens of other companies in announcing that they would suspend and review their political donations following the Capitol riot.

More than a third of Americans plan to save a significant amount if they receive the payment, a survey found.

For those with less than $150,000 in adjusted gross income who collected unemployment benefits this past year, the COVID relief bill allows them to receive up to $10,200 of those benefits tax-free.

Some nominees poised to take their agencies in a new direction appear headed for Senate confirmation while an intraparty squabble has delayed the administration’s choice to lead the Office of the Comptroller of the Currency. Here’s the roster update.

Now political momentum is building to raise taxes on the wealthy and support families and small businesses during the pandemic.

The stock exchange has said it will end trading in shares of certain China-based companies, thanks to a long-running accounting dispute, writes Earl Carr.

Senators will likely push Gary Gensler, tapped to lead the SEC, for his views on the recent market mania that roiled shares of GameStop and other stocks last month.

The Treasury chief said last week that revenue measures would be needed to help pay for Biden’s planned longer-term economic reconstruction program.

While getting a rules overhaul through a bitterly divided Congress won’t be easy, analysts, consumer advocates and experts say changes may be on the table.

The recent tumult involving GameStop and Robinhood has raised questions about whether broader risks for the financial system are brewing.

The looming threat for Biden’s SEC pick is that the good times could end on his watch, triggering a crash that hits retail investors who’ve contributed to the boom.

Some advisory firms have already started narrowing their lists of funds considered eligible for retirement plans based on Trump’s decision to overhaul ERISA.

While qualified contributions won’t necessarily give clients the biggest tax bang for their buck, there are exceptions to the rule, Jeffrey Levine writes.