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.