Everyone agrees -- fixing the tax code is imperative.
They are the "super committee" -- and they have a lot of work to do.
Washington has a compromise problem. And now, lawmakers face a seemingly impossible task -- find a way to institute reforms that have eluded policymakers, all while markets and rating agencies watch with rapt attention.
Senate Majority Leader Harry Reid made his picks Tuesday for the Congressional "super committee" that will face the unenviable task of finding trillions to slice from the federal budget.
Senate Majority Leader Harry Reid, D-Nevada, said Tuesday that he would appoint Sen. Patty Murray, Sen. Max Baucus of Montana and Sen. John Kerry of Massachusetts to the congressional "super committee," charged with crafting a plan to cut the country's deficit.
The oil industry launched another assault Tuesday in the battle to protect favorable tax rates for energy producers.
A Senate procedural vote on Saturday failed to keep the DREAM Act from moving forward.
A bill that offers a path to citizenship to some illegal immigrants who entered the United States as children failed a procedural vote in the Senate on Saturday.
A controversial plan by a presidential commission to slash $4 trillion in federal debt has drawn strong bipartisan support as the panel held its final vote on Friday.
A Democrat-sponsored bill to extend unemployment benefits through 2011 was introduced in the Senate Monday, but it is likely to face stiff opposition from Republicans.
Although the deadline to file for extended unemployment insurance is officially Nov. 30, many jobless have already filed their last claim for benefits.
The Senate failed Monday night to pass two measures that would have repealed a law that businesses big and small say will cost jobs.
Lawmakers will get a chance Monday to undo a piece of health care reform that businesses big and small say will cost jobs.
Top Democrats are uniting with Republicans in a show of support for small business owners: Senate Finance Committee Chairman Max Baucus, D-Mont., said Friday that he will introduce legislation to repeal the expanded 1099 reporting requirements set to take effect in 2012.
How much do you pay for your 401(k)? You probably can't answer that, because providers of the employer-sponsored retirement plans aren't required to tell you in clear language what they're charging. And now it appears that lawmakers in the Senate don't want you to know, either. At least not yet.
The Senate on Wednesday approved a $15 billion job-creation bill that would give businesses tax breaks for hiring the unemployed and states more money for infrastructure projects.
The Senate voted Monday to push forward a $15 billion jobs creation bill that would give businesses a tax break for hiring the unemployed.
Lawmakers will start 2010 with a hefty to-do list thanks to a lot of unfinished tax business they left on the table in 2009. The chief example: the estate tax.
Senate Democrats failed to reach a deal on Wednesday with Senate Republicans to temporarily extend the estate tax into 2010, when it is scheduled to be repealed for one year.
Will the new health bill contain a loophole limiting patient insurance coverage? CNN's Brianna Keilar reports.
After hearing concerns from patient advocates, the White House on Friday said it is looking to close a loophole in the Senate health care bill that would allow caps on annual insurance benefits.
When was the last time your employer gave you a raise because the company had a little windfall? Don't feel bad if your memory is drawing blanks.
The focus on health care reform now shifts to the Democratic leadership in Congress a day after the Senate Finance Committee voted through its version of the health care bill.
The nation's heath insurance industry issues a report that the White House calls flawed. CNN's Jim Acosta reports.
They're angry and fighting back with full force.
Now that the Congressional Budget Office has concluded that the health-care bill proposed by Sen. Max Baucus will shrink the federal deficit over the next ten years, its champions are heralding the legislation as a model of fiscal responsibility.
A compromise health care proposal widely seen as having the best chance to win Democratic and Republican support would cost $829 billion over the next 10 years, nonpartisan budget analysts concluded Wednesday.
The Senate Finance Committee completed debate on proposed health-care legislation early Friday.
Carol Costello looks into whether our children really will inherit unprecedented debt and taxes with health care reform.
Two members of the Senate Finance Committee plan to put their Democratic colleagues on the spot on Tuesday by offering amendments on whether to give uninsured Americans the opportunity to join a government insurance program.
CNN's Brianna Keilear reports on the health care reform hearing on Capitol Hill.
Senate Finance Committee Chairman Max Baucus on Tuesday unveiled changes to his compromise health care proposal intended to alleviate the concerns of fellow Democrats as the panel began debating more than 560 proposed amendments to the measure.
It sounds so simple. Insurers that offer very expensive health insurance policies will have to pay a tax and the revenue raised will help pay for health reform and possibly lower health care costs.
It's easy to see why the round of interviews President Obama gave on Sunday did little to dispel the public's confusion about his health-care agenda. The august group of network anchors and political commentators quizzing the president failed to ask him the following fundamental question: Why does the proposal Obama has been praising as the best way to achieve bi-partisan support actually contradict the Administration's stated goals?
As the White House and Senate Democrats move toward Sen. Max Baucus' compromise on health care, there is a growing sense among Democrats that the political power of conservatism remains much stronger than some observers believed after Barack Obama's victory in November 2008.
Millions in stimulus dollars are going to two little-used borders crossings. CNN's Drew Griffin reports.
We were driving through some of the most remote country in the United States, chasing a story that seemed hard to believe.
Senior Medical Correspondent Elizabeth Cohen chats with Tony Harris about what the Baucus bill means for students.
President Obama took his health care reform message back on the road Thursday, promising a raucous crowd of college students that Congress will pass legislation this year.
Senate Finance Chairman Max Baucus unveiled his long-awaited health care reform bill. Dana Bash reports.
The seemingly elusive effort to reach a consensus on health care reform got a new boost Wednesday with the long-awaited launch of a plan believed to have the best hope so far of winning support from centrist Democrats and Republicans.
Senate Finance Committee Chairman Max Baucus, D-Montana, unveiled a summary of his proposed health care plan Monday.
Sen. Max Baucus, chairman of the Senate Finance Committee, unveiled a summary of his long-awaited health plan Wednesday, setting the stage for a legislative showdown on President Obama's top domestic priority.
Increased awareness of the details of a possible compromise health care bill is boosting the comfort level of both Democrats and Republicans, a key Democratic senator said Monday.
The negotiations over health reform are kicking into high gear. And one of the top issues is whether to make insurance companies pay for some of it.
This is the eighth and final installment in a series of health-care columns by Fortune's Shawn Tully.
Senate Finance Committee Chairman Max Baucus says health care needs to pass with or without GOP support.
A Democratic Senate chairman at the heart of Capitol Hill's delicate health care negotiations announced Wednesday that he intends to unveil a long-awaited compromise reform bill from his committee next week.
Rep. Jim Clyburn, D-South Carolina, said Friday that he believes that Democrats should be willing to take "half a loaf" in order to pass health care reform.
Lawmakers searching for a way to pay for health care reform are facing some rough waters.
After huddling Wednesday with Democrats on the Senate Finance Committee, Chairman Max Baucus told reporters that lawmakers still need to come up with $320 billion over the coming decade in taxes to pay for the health care plan. The remaining cost of the bill would be paid for through savings in Medicare, Medicaid and other programs.
The Senate Finance Committee has crafted a health care reform bill that is less than $1 trillion, Finance Committee Chairman Max Baucus, D-Montana, announced Thursday.
Reality Check on claim that 119 million people would lose insurance under Democrats' reform plan. Dana Bash reports.
Two key proposals to improve access to health insurance could reduce the ranks of the uninsured but cost $1 trillion over 10 years, according to preliminary estimates released Monday by the Congressional Budget Office.
Americans who want to follow how the health care debate could affect their tax bill should focus on one man in the next week: Max Baucus.
The debate over whether to have a government-backed insurance plan is fast becoming the most divisive health care reform issue.
As the debate on how to fix health care picks up pace, so does discussion about one of the most lucrative ways to pay for it: Scale back the tax break that workers enjoy for health insurance.
If President Obama has his way, health care reform will be finalized this year. Key Senate and House committees are planning to mark up legislation in June, and the House is aiming to vote on the issue by August.
One of the people named this week to President Obama's new Task Force on Tax Reform is a member of the AIG board of directors.
Get ready. Washington is again debating how to fix the health care system. And the outcome might affect your wallet.
Senate Democrats want to tax the controversial bonuses doled out to AIG employees who work for the division that led to the company's downfall.
House Speaker Nancy Pelosi said Thursday there are no immediate plans for a second stimulus package, but she didn't rule out the possibility of having one in the future.
One of the most controversial provisions in President Obama's proposed budget might have a short shelf life on Capitol Hill.
Barack Obama made health-care reform a central promise of his presidential campaign. But the shape any change takes will probably depend as much on Congress as on the new president's plans.
Responding to the financial market downturn, the Senate on Thursday voted to ease rules for seniors who are required to take distributions from their battered retirement accounts.
The Senate version of an economic stimulus bill, which could come to a vote this week, contains several tax provisions intended to benefit small businesses, including some not present in the House bill passed on Tuesday.
The Senate Finance Committee on Wednesday passed an economic stimulus package that would inject close to $200 billion into the economy over two years in an attempt to stave off recession.
The House approved a $146 billion economic stimulus package Tuesday afternoon by a wide, bipartisan margin, but the package had an uncertain future in the Senate.
Congress is expected to move swiftly on an economic stimulus package hammered out this week by House leaders and Treasury Secretary Henry Paulson. While individual tax rebates are the plan's centerpiece, Congressional leaders said the bill will include provisions aimed at spurring job creation and offering businesses tax incentives for equipment purchases.
Word is that President Bush may propose new measures to boost the economy by the time he gives his State of the Union address later this month.
With help from the NRA, nearly 50 Senators are pushing to end a two-decade-old rule forbidding people from openly carrying firearms in most national parks
Giving relief to the middle class from the alternative minimum tax this year has become a thorny problem for the Democrats
Warren Buffett has said it before and he's likely to say it again to Congress on Wednesday: He thinks the heirs of the wealthy should be taxed on their inheritance.
Lawmakers are looking to pass $71 billion worth of tax-break extenders this year. Most politicians support the extensions, but how to pay for them is another matter entirely.
The critics of legislation that would raise taxes on the income of private-equity and hedge-fund manager are coming out in full force, contending it would hurt returns and have negative effects on other kinds of limited partnerships. In addition, they say, not much tax revenue would be raised.
More and more Wall Streeters - especially those new-money hedge fund and private equity managers with net worths stretching toward and beyond the billion-dollar mark - are throwing their considerable moneyed weight behind Democratic candidates. So far, presidential contenders Hillary Clinton and Barack Obama have managed to charm these masters of Manhattan with their policy smarts and scent of potential victory, even while decrying the country's "highest concentration of wealth...since 1929," as Clinton puts it.
The Treasury Department and the IRS on Thursday submitted a second report to Senate tax writers detailing how they plan to look under the country's couch cushions and otherwise come up with past taxes owed but not paid.
A Senate committee approved a five-year, $35 billion expansion of a children's health insurance program that would be financed through higher tobacco taxes
To figure out whether you need to pay quarterly estimated federal taxes this year and avoid underpayment penalties, you need to have a sense of what your tax liability will be.
New requirements to track down, deport and permanently bar people who overstay their visas would be added to a broad immigration bill under a GOP bid to attract more Republican support
Tax-writing committees in Congress are weighing a curtailment of a little-known tax break that helps private equity firms and hedge funds cut their tax bills, according to a newspaper report published Thursday.
These are some facts from tonight's show that you might find interesting.
Taxes undoubtedly are weighing heavily on the minds of private equity's kings these days.
A bipartisan group of senators on Thursday introduced a bill calling for the death of the stealth tax that lawmakers on both sides of the aisle have criticized.
NEW YORK (CNNMoney.com) - With Republicans unable to get enough votes to pass permanent estate tax repeal, the Senate on Thursday also failed to reach a compromise deal that would permanently lift estate-tax exemption levels and lower the top estate-tax rate.
Three Democratic members of the Senate Judiciary Committee said Thursday that they would vote against President Bush's Supreme Court nominee.
The Senate was up to its old tricks Monday evening.
President Bush on Friday approved a bill that would extend the deductibility of donations made for tsunami disaster relief.
Congress on Thursday approved a bill that would extend the deductibility of donations made for tsunami disaster relief.
Americans have reacted to the tsunami disaster in Asia with an outpouring of giving to a variety of charities -- the American Red Cross alone has already received $92 million in pledges.
The wife of a U.S. senator was charged with simple assault Wednesday following an incident in which she allegedly struck another woman while loading items into her car at a garden store.
The debate about U.S. economic policy is usually heated--sometimes even rancorous--and more than a little political. But recently it's also been nearly devoid of economic analysis. The arguments fr...
Since Sept. 11, a lot has been written about profiteers dressed as patriots. Lobbyists have won all sorts of giveaways, from bison-meat purchases to the abolition of the alternative minimum tax for...
Jon Corzine wants the federal government's economic stimulus package to include much greater spending on public transportation, emergency services and airline security. Here's what's in some of the...
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