Social issues
TikTok parent ByteDance acquires private hospital chain
TikTok logos are seen on smartphones in front of a displayed ByteDance logo in this illustration taken November 27, 2019. Dado Ruvic | Reuters TikTok parent-company ByteDance’s healthcare unit in China, Xiaohe Health, has acquired a high-end healthcare organization called Amcare Healthcare. Bloomberg said the deal is worth $1.5 billion. Amcare Healthcare was founded in […]
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Inflation Reduction Act extends ‘pass-through’ tax break limits for 2 more years. Here’s what that means for entrepreneurs
Senate Majority Leader Chuck Schumer, D-N.Y., discusses the Inflation Reduction Act on Aug. 7, 2022 in Washington, D.C. Kent Nishimura | Los Angeles Times | Getty Images Senate Democrats curtailed a tax break for certain pass-through businesses as part of the Inflation Reduction Act passed Sunday. A pass-through or flow-through business is one that reports […]
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With 87,000 new agents, here’s who the IRS may target for audits
Jeffrey Coolidge | Photodisc | Getty Images As the Democrats’ spending plan moves closer to a House vote, one of the more controversial provisions — nearly $80 billion in IRS funding, with $45.6 billion for “enforcement” — has raised questions about who the agency may target for audits. IRS Commissioner Charles Rettig said these resources […]
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Senate passes sweeping climate, health and tax package, putting Democrats on cusp of historic win
U.S. Senate Majority Leader Chuck Schumer (D-NY) holds a news conference to tout the $430 billion drug pricing, energy and tax bill championed by Democrats at the U.S. Capitol in Washington, U.S. August 5, 2022. Jonathan Ernst | Reuters WASHINGTON — Senate Democrats narrowly passed a sweeping climate and economic package on Sunday, putting President […]
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More Americans are working part-time — a potential harbinger of future jobs market instability
Commuters and tourists exit a subway car May 26, 2022 in New York City. Robert Nickelsberg | Getty Images More Americans were working part-time and temporary jobs last month, which may herald future shifts in the shape of what today appears a robust jobs market. Hiring in July easily blew past expectations, suggesting a strong […]
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Schumer says Sinema left ‘no choice’ but to cut carried interest provision from tax and climate bill
U.S. Senate Majority Leader Chuck Schumer (D-NY) holds his weekly news conference after the Democratic caucus party luncheon at the U.S. Capitol in Washington, August 2, 2022. Jonathan Ernst | Reuters Senate Majority Leader Chuck Schumer said Friday that Democrats had “no choice” but to drop a key tax provision from their major spending bill […]
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Does the Inflation Reduction Act violate Biden’s $400,000 tax pledge? Expect ‘a different answer depending on who you ask,’ says analyst
Jim Watson | Afp | Getty Images Senate Democrats’ package of climate change, health-care, drug pricing and tax measures unveiled last week has proponents and opponents debating whether the legislation violates a pledge President Joe Biden has made since his presidential campaign, to not raise taxes on households with incomes below $400,000 a year. The answer isn’t […]
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Overwhelming abortion right win in in ‘red’ Kansas gives Democrats boost for fall midterms over ‘MAGA’ GOP, Schumer says
Senate Majority Leader Chuck Schumer and other leading Democrats on Wednesday said an unexpectedly strong vote to uphold the right to an abortion in “red” Kansas gives their party a boost over Republicans going into the fall midterm elections. “Last night in the American heartland, the people of Kansas sent an unmistakable message to MAGA […]
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Watch live: U.S. Attorney General Merrick Garland briefs press on DOJ lawsuit challenging Idaho abortion law
(Attorney General Merrick Garland is scheduled to begin speaking at 1:30 p.m. ET. Please refresh the page if the video above doesn’t play at that time.) The U.S. Justice Department filed a lawsuit Tuesday seeking to invalidate Idaho’s new restrictive abortion law on the grounds that it violates federal law requiring most hospitals to give […]
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Koch network pressures Sens. Manchin, Sinema to oppose $739 billion tax-and-spending bill
Sen. Kyrsten Sinema, D-Ariz., and Sen. Joe Manchin, D-W.Va., board an elevator after a private meeting between the two of them on Capitol Hill on Thursday, Sept. 30, 2021 in Washington, DC. Jabin Botsford | The Washington Post | Getty Images The political network backed by billionaire Charles Koch launched an ad blitz targeting Sens. […]
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