Government taxation and revenue
Trump tax bill clears the House in a victory for Republicans, advances to the Senate
WASHINGTON — Republicans in the U.S. House of Representatives came together early Thursday to pass President Donald Trump’s “big, beautiful” tax bill out of the chamber on a narrow vote. Every Democrat on the floor voted no, as did Republican Reps. Warren Davidson of Ohio and Thomas Massie of Kentucky. Rep. Andy Harris, R-Md., who […]
Read More
Trump fails to convince SALT caucus to back tax bill
President Donald Trump arrives for a House Republican meeting at the U.S. Capitol on May 20, 2025 in Washington, DC. Tasos Katopodis | Getty Images News | Getty Images President Donald Trump failed during a visit Tuesday to Capitol Hill to sway key House Republicans from blue states to drop opposition to a major tax […]
Read More
Trump warns House Republicans, ‘Don’t f— around with Medicaid’
President Donald Trump on Tuesday warned House Republicans, “Don’t f— around with Medicaid,” as he pressed them during a closed-door meeting to pass a major tax bill, a source told CNBC. Trump’s blunt message came during a visit to Capitol Hill. Movement on the tax bill has been hampered by a small number of Trump’s […]
Read More
Trump backs tax hike on the rich, but says GOP ‘probably’ shouldn’t do it
U.S. President Donald Trump speaks during a swearing-in ceremony of Special Envoy Steve Witkoff in the Oval Office at the White House in Washington, D.C., U.S., May 6, 2025. Kent Nishimura | Reuters President Donald Trump on Friday tepidly backed the idea of raising taxes on the richest Americans, while openly wrestling with the politics […]
Read More
Credit Suisse to pay $511 million for helping U.S. taxpayers hide over $4 billion overseas
Two men sit under a sign of Credit Suisse displayed on a building in Lugano, on June 9, 2023. Fabrice Coffrini | AFP | Getty Images Credit Suisse Services AG will pay about $511 million to settle a criminal case for having conspired with American taxpayers to hide more than $4 billion in at least […]
Read More
NY Gov. says congestion pricing will remain despite federal deadline to end the program Sunday
Traffic moves along midtown Manhattan on February 19, 2025 in New York City. Earlier in the day, the Trump administration terminated approval of New York City congestion pricing. Alex Kent | Getty Images New York City’s $9 congestion toll on drivers in Manhattan’s busiest areas will remain in effect, despite the federal government’s Sunday deadline […]
Read More
Tax attorneys say IRS has become a ‘zombie’ as agency cuts staff and halts audits of the wealthy
People walk in the rain past the Internal Revenue Service (IRS) building in Washington, D.C., U.S., April 11, 2025. Jonathan Ernst | Reuters A version of this article first appeared in CNBC’s Inside Wealth newsletter with Robert Frank, a weekly guide to the high-net-worth investor and consumer. Sign up to receive future editions, straight to your inbox. […]
Read More
20,000 IRS employees interested in deferred resignation offer as tax deadline looms
A traffic light is red outside the U.S. Internal Revenue Service (IRS) building after it was reported the IRS will lay off about 6,700 employees, a restructuring that could strain the tax-collecting agency’s resources during the critical tax-filing season, in Washington, D.C., Feb. 20, 2025. Kent Nishimura | Reuters Around 20,000 Internal Revenue Service employees […]
Read More
This homeowner cut her heating bill in half — and got a $1,200 tax credit
Key Points The energy efficient home improvement tax credit offers taxpayers up to $3,200 per year to offset the cost of projects like installing a heat pump or insulation. The Inflation Reduction Act extended the tax break through 2032 and made it more generous. Republicans may kill the tax credit as part of a multitrillion-dollar […]
Read More
IRS acting commissioner will resign over deal to send immigrants’ tax data to ICE, sources say
Pgiam | Istock | Getty Images WASHINGTON — The acting commissioner of the IRS is resigning over a deal to share immigrants’ tax data with Immigration and Customs Enforcement for the purpose of identifying and deporting people illegally in the U.S., according to two people familiar with the decision. Melanie Krause, who had served as acting head since February, […]
Read More