U.S. Economy

President Biden called Chinese President Xi Jinping a "smart, smart guy" during his Thursday press conference, even as he vowed to hold Beijing accountable for a multitude of human rights abuses and unfair trade practices.

Sen. Bernie Sanders on Thursday renewed his push to hike taxes on wealthy Americans, unveiling a pair of proposals that would dramatically raise the rates paid by corporations and the top sliver of U.S. households.

The IRS sent out a second batch of stimulus checks this week, delivering payments to another 37 million Americans as part of President Biden's $1.9 trillion American Rescue Plan.  

Sen. Elizabeth Warren's plan to tax the net worth of the wealthiest Americans could reduce U.S. economic growth by 1.2% over the next 30 years, according to a new analysis published this week. 

The IRS has already delivered a third round of stimulus checks to 90 million Americans — but not everyone has gotten the full payment for which they're eligible. 

Treasury Secretary Janet Yellen said Wednesday the U.S. government has more room to borrow, but acknowledged that higher taxes will likely be needed to pay for those future expenditures.  

More Americans are eligible to take advantage of a tax break on unemployment benefits under new guidance issued this week by the IRS.

The richest 1% of Americans dodge significantly more in income taxes than the Internal Revenue Service previously estimated, according to a new study released this week.

Executives at some of Wall Street's biggest firms warned New York lawmakers that raising taxes could cause high-income earners who fled the state during the coronavirus pandemic to leave permanently.  

Treasury Secretary Janet Yellen said Tuesday that President Biden is exploring changes to the tax structure in order to offset the cost of Democrats' next big-ticket economic spending package. 

A group of House Democrats is pushing for answers on reported delays in the delivery of the third round of stimulus checks to Americans who are not required to file tax returns – including some veterans and Social Security beneficiaries. 

Administration officials are crafting a plan for a multipart infrastructure and economic package that could cost as much as $3 trillion and fulfill key elements of President Biden’s campaign agenda, according to people involved in the discussions.

President Biden is committed to fulfilling a key campaign promise and raising taxes on high-income earners amid growing evidence that many wealthy Americans benefited financially from the coronavirus pandemic. 

It's a busy time for the IRS: In addition to delivering a third round of stimulus checks to millions of Americans, the agency is also mired in the months-long process of issuing tax refunds.

A second batch of stimulus checks is scheduled to arrive in Americans' bank accounts this week, with most cash payments expected to arrive by Wednesday. 

Federal Reserve Chairman Jerome Powell said Monday the coronavirus pandemic exposed weaknesses in the global payment system, including the delays in stimulus check deliveries to millions of Americans. 

Restrictions on nonessential travel were put in place a year ago to curb the spread of the virus and have been extended almost every month since, with exceptions for trade, trucking and critical supply chains.

One week after President Biden signed the American Rescue Plan into law, the White House is undertaking a new venture: Selling the $1.9 trillion coronavirus relief package to families across the country.  

The head of the IRS warned this week of potential delays to the launch of the new monthly child tax credit payment program authorized under President Biden's $1.9 trillion stimulus plan.

If you haven't received your third stimulus check yet, you should consider filing as soon as possible.