Taxes

Fiscal discipline? Not now, as GOP pushes tax cuts

Republicans relentlessly complained about big budget deficits during Democratic President Barack Obama's two terms, but now a growing number in the GOP are pushing for deep tax cuts even if they add to the government's $20 trillion debt.

Some Republicans defy Gov. Rauner and back tax increases

The Illinois House approved $5 billion income tax increase on Sunday, followed by a spending plan for the new fiscal year, with some Republicans defying Gov. Bruce Rauner and joining Democrats in a dramatic step to break the nation's longest-running budget stalemate.

Credit houses send Illinois positive financial signals

Two of the nation's top credit-rating houses smiled favorably on Illinois' financial outlook Monday following votes the previous day in the House of Representatives to end the nation's longest budget standoff.

Seattle approves new income tax for wealthy residents

Seattle's highest earners would become the only Washington state residents to pay an income tax under a proposal that is designed to open a broader discussion about whether the wealthy pay their fair share in this booming city.

Democrat 'incredibly frustrated' with leader over Foxconn

Wisconsin Assembly Democratic Leader Peter Barca was branded as failing "on all accounts" by a fellow Democrat who was "incredibly frustrated and concerned" with his actions after Barca joined Republicans in voting for a $3 billion tax incentive package for Foxconn Technology Group.

European stocks get boost from rising dollar

Asian stock markets turned mostly lower on Wednesday as investors awaited the outlines of U.S. tax overhaul plans by President Donald Trump while news headlines on geopolitical tensions surrounding North Korea have quieted.

Scientists say cost of capturing CO2 declining

Technology now in limited use removes about 90 percent of carbon dioxide from the smokestacks of coal-fired power plants, but energy experts say cost remains the chief obstacle to bringing the "clean coal" touted by President Donald Trump into the mainstream.