Government And Institutions

Iowa at center of debate over 'shadow insurance' deals

For cash-strapped life insurance companies, the deal sounds almost too good to be true: A state law allows them to create complex financial instruments to transfer liabilities to new subsidiaries, instantly wiping huge debts off their balance sheets.

Race for Facebook data center raises tax-break questions

The race between a small town on the Rio Grande in New Mexico and a Salt Lake City suburb to entice a new Facebook data center with millions of dollars in tax breaks and subsidies is raising questions about public investments in a booming cloud-computing economy that typically brings few local jobs.

WHY IT MATTERS: Trade

THE ISSUE: In this angry election year, many American voters are deeply skeptical about free trade — or downright hostile to it.

California lawmakers approve extension of climate change law

California lawmakers voted Wednesday to extend the state's landmark climate change law — the most aggressive in the nation — by another 10 years, resisting fierce opposition from oil companies and other business interests to keep the program alive at least through 2030.

Online public school founder admits to $8M in tax fraud

The founder and former CEO of an online public school that educates thousands of Pennsylvania students pleaded guilty Wednesday to federal tax fraud, acknowledging he siphoned more than $8 million from The Pennsylvania Cyber Charter School through for-profit and nonprofit companies he controlled.