Build Back Better would make the Child Tax Credit permanently available to low-income families. But the trillion-dollar spending plan faces hurdles in Congress before it can be signed into law.
Democrats say the reporting requirement would help the IRS crack down on fraud, Republicans say it's government snooping.
Local financial institutions have pushed customers in recent days to speak out against a Treasury Department proposal that would require the IRS to track transactions valued at $600 or more, joining Republican lawmakers who have criticized the plan.
President Biden said Friday he supports a Democratic proposal to tax billionaires annually on their unrealized investment gains.
President Biden's ability to win new tax hikes will dictate the future of the stock market, according to Goldman Sachs.
Progressive Democrats, who had hoped unified party control of the government could spur transformative tax increases on multinational companies and wealthy individuals, look like they will have to settle for a more modest outcome.
Larry Kudlow honored President Ronald Reagan during Thursday's monologue by discussing Reagan's "revolutionary" tax cuts.
Mick Mulvaney told FOX Business' "Mornings with Maria" that there is "no way" to pay for Senate Democrats' $3.5 trillion spending bill without raising taxes on the middle class.
Big Tech may face some of the most significant impact of a proposed 15% minimum corporate tax rate that members of the Group of Seven, or G7, meeting in London agreed to support on Saturday.
The Biden administration’s proposal for a minimum corporate tax rate as part of its infrastructure plan could have unintended consequences, economists say.
A group of the world's richest nations reached a landmark deal on Saturday to close cross-border tax loopholes used by some of the world's biggest companies.
Americans for Tax Reform President Grover Norquist on how Biden’s vow to tax the rich may fall on the middle class.
Reps. Suzanne Bonamici, D-Ore., and Peter Meijer, R-Mich., introduced a bill Friday that would eliminate a tax deduction for business meals and redirect the funds for child care.
The Lindsey Group CEO Larry Lindsey on the economic turmoil the U.S. could see in the future due to Biden’s spending spree.
Americans for Tax Reform President Grover Norquist pushed back Wednesday on U.S. Treasury Secretary Janet Yellen's case for raising the corporate tax rate to help fund President Biden's $2.2. trillion infrastructure plan.
Vermont Sen. Bernie Sanders would skirt by the tax hikes that are planned to help pay for trillions of dollars of spending plans championed by the Biden administration.
Americans for Tax Reform President Grover Norquist on President Biden considering increasing estate taxes.
Wall Street strategists are growing increasingly concerned that President Biden’s tax hikes could put an end to the stock market’s record-setting run.
Johnson & Johnson CFO Joseph Wolk on Tuesday questioned the impact of President Biden’s proposed corporate tax hikes.
The Biden Administration works to push its $2.3 trillion infrastructure package, after reports on the condition of states' infrastructure show a bleak outlook for the U.S. economy.