Sen. Joe Manchin said Tuesday that a deeply controversial proposal that would force banks to turn over most customers' account information to the Internal Revenue Service will likely be dropped from Democrats' final tax and spending bill, even after the White House agreed to narrow the scope of the plan.

A top House Democrat threw doubt on a new Senate plan to tax the unrealized capital gains of billionaires and other ultrahigh earners, arguing the proposal may be too complicated to implement.

Nevada Republican Senate candidate Adam Laxalt says he believes Democrats' "transformational" reconciliation bill could help him win his race.

TikTok, Snap and YouTube are in the hot seat as the companies are set to face questions from Congress over the platforms' impacts on teens.

Moderate Democratic Sen. Joe Manchin of West Virginia indicated Monday that he would support tax proposals targeting billionaires amid ongoing negotiations within the party toward an agreement on President Biden’s sweeping social spending bill.

Senate Democrats are crafting a plan to tax billionaires and other ultra-high earners in order to pay for the bulk of President Biden's signature economic spending plan after failing to secure enough support for a slew of other planned tax increases.

Two high-profile House progressives said this week that they would vote for the infrastructure bill in exchange for assurances from President Biden that reconciliation will pass.

Among the major factors motivating Democrats to come to a deal this week: President Biden leaves Thursday for a climate summit, and Virginia gubernatorial candidate Terry McAuliffe is taking heat for Democrats' failure to pass the infrastructure bill.

Fox Business host and former Trump economic adviser Larry Kudlow highlighted the failures of Biden's major policy initiatives as the president has faced several domestic crises in recent weeks.