Complete coverage on

U.S. Senate Committee on Finance

The Senate Finance Committee is launching an investigation to determine whether a charity intended to help disabled veterans deserves its tax-exempt status after doling out millions of dollars to a direct-mail company.

Latest Stories

CNNMoney: Business tax breaks booted from payroll dealupdated: Fri Feb 17 2012 12:54:00

The last legislative freight train has left the station, and a set of expired business tax breaks that regularly get extended was left on the platform.

CNNMoney: Stealth IRS changes mean millions of new tax formsupdated: Fri May 21 2010 13:51:00

The massive expansion of requirements for businesses to file 1099 tax forms that was hidden in the 2,409-page health reform bill took many by surprise when it came to light last month. But it's just one piece of a years-long legislative stealth campaign to create ways for the federal government to track down unreported income.

Key Homeland Security posts go unfilledupdated: Thu Mar 04 2010 12:21:00

The war on terror is being fought without some key generals.

House, Senate differ sharply on health care reformupdated: Mon Nov 09 2009 17:12:00

Where does the battle for health care reform go from here? More importantly, what does it mean for you?

White House disputes reportupdated: Tue Oct 13 2009 15:57:00

The nation's heath insurance industry issues a report that the White House calls flawed. CNN's Jim Acosta reports.

Current health bill unacceptable, Catholic bishops sayupdated: Thu Oct 08 2009 22:22:00

Senior Catholic bishops are threatening to oppose the health care bill under consideration in Congress if lawmakers don't make significant reforms regarding federally funded abortions and other issues.

Key health care vote set for next Tuesdayupdated: Thu Oct 08 2009 11:44:00

The Senate Finance Committee will vote on its long-awaited health care bill next Tuesday, Majority Leader Harry Reid announced on the Senate floor Thursday.

Key health care vote to be delayed, sources sayupdated: Tue Oct 06 2009 12:50:00

A key congressional committee vote on health care reform, originally expected as early as Tuesday, is now likely to be pushed back several days, according to two Democratic staffers.

Senate committee completes health care debateupdated: Fri Oct 02 2009 08:00:00

The Senate Finance Committee completed debate on proposed health care legislation early Friday.

CNNMoney: Senate committee winds up health-care debateupdated: Fri Oct 02 2009 07:49:00

The Senate Finance Committee completed debate on proposed health-care legislation early Friday.

Public option debateupdated: Wed Sep 30 2009 14:07:00

Senators on a key committee take a stand on a controversial health care reform provision. CNN's Jim Acosta reports.

Public option: 'Nothing is ever dead on Capitol Hill'updated: Wed Sep 30 2009 14:07:00

As lawmakers huddled this summer to put together the framework for health care legislation, it quickly became evident that the battle over President Obama's top priority would be neither quick nor easy.

Senate Democrats plan to force vote on public optionupdated: Tue Sep 29 2009 10:01:00

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.

Pelosi: House Dems consider insurance tax to fund health careupdated: Fri Sep 25 2009 18:11:00

House Democratic leaders are discussing adding a tax on insurers as a way to reduce the overall price tag of their health care bill.

CNNMoney: Baucus health plan unveiledupdated: Wed Sep 16 2009 12:24:00

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.

Baucus floats compromise on health care billupdated: Mon Sep 07 2009 21:00:00

A proposed health-care compromise by the powerful chairman of the Senate Finance Committee lacks a government-run insurance option favored by Democrats and would tax the most expensive health insurance plans, a source close to the discussions told CNN Monday.

CNNMoney: Tax on expensive health plans proposedupdated: Mon Sep 07 2009 17:49:00

A proposed health care compromise by the powerful chairman of the Senate Finance Committee lacks a government-run insurance option and would tax the most expensive health insurance plans, a source close to the discussions told CNN Monday.

CNNMoney: Health reform follies: How to keep upupdated: Sun Aug 02 2009 11:31:00

A lot was supposed to happen on health reform before Congress went on summer vacation. Turns out, a lot didn't. End result: The heavy lifting on health reform legislation has been pushed to the fall.

CNNMoney: The 'new' new tax on the richupdated: Sun Jul 26 2009 07:11:00

The definition of "rich" may be going up should lawmakers choose to impose extra taxes on the wealthy to pay for health reform.

CNNMoney: What health reform means for youupdated: Wed Jul 22 2009 10:39:00

Lawmakers are still far from consensus on how to fix the health care system. So it's too soon to know exactly what reform would mean for individual Americans.

Democrat: Obama slowing down progress on health care reformupdated: Thu Jul 16 2009 22:07:00

President Obama's opposition to taxing employer-provided health benefits has slowed progress on passing a health care reform bill, the chairman of the Senate Finance Committee complained Thursday.

Health care battle beginsupdated: Thu Jul 16 2009 22:07:00

The real battle over health care reform is about to begin. CNN's Jim Acosta reports.

CNNMoney: Health tax is in flux. Now what?updated: Thu Jul 09 2009 09:30:00

Lawmakers searching for a way to pay for health care reform are facing some rough waters.

Senate panel cuts cost of health care reform to less than $1 trillionupdated: Thu Jun 25 2009 13:36:00

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.

Health Care Reality Checkupdated: Thu Jun 25 2009 13:36:00

Reality Check on claim that 119 million people would lose insurance under Democrats' reform plan. Dana Bash reports.

CNNMoney: Better access to health insurance: $1 trillionupdated: Tue Jun 16 2009 07:42:00

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.

CNNMoney: Taxing health benefits may fall shortupdated: Mon Jun 15 2009 13:23:00

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.

CNNMoney: Stocks: Trying for week 10updated: Mon May 11 2009 03:40:00

For Wall Street to stretch its spring stock run to a tenth straight week, investors may need a little extra ammunition - and some good news on the consumer front.

CNNMoney: More bonus fallout for AIG, Treasuryupdated: Tue Mar 17 2009 23:18:00

The fallout continued Tuesday over $165 million in bonus payments paid to executives by bailed-out insurer American International Group.

CNNMoney: Lawmakers explore taxing AIG bonusesupdated: Tue Mar 17 2009 12:11:00

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.

Daschle 'deeply embarrassed' over tax issuesupdated: Mon Feb 02 2009 22:00:00

Democratic senators stood behind Health and Human Services Secretary-designate Tom Daschle Monday after a closed-door session of the Senate Finance Committee on the former South Dakota senator's tax troubles.

Daschle apologizesupdated: Mon Feb 02 2009 22:00:00

Tom Daschle apologizes to President Obama and the American people for making a mistake on his taxes.

CNNMoney: Senate panel backs Geithnerupdated: Thu Jan 22 2009 11:47:00

A Senate panel recommended that the full Senate confirm Tim Geithner as the next Treasury secretary.

CNNMoney: Geithner mess has to be resolved nowupdated: Wed Jan 14 2009 15:56:00

So much for a smooth confirmation hearing for Timothy Geithner.

Geithner questioned about former housekeeper, taxesupdated: Tue Jan 13 2009 21:54:00

Members of the Senate Finance Committee met Tuesday with treasury secretary nominee Tim Geithner over concerns involving his personal taxes and the immigration status of a former housekeeper, transition officials said.

CNNMoney: Geithner faces tax questionsupdated: Tue Jan 13 2009 20:15:00

Members of the Senate Finance Committee met Tuesday with Treasury Secretary nominee Tim Geithner over concerns involving his personal taxes and the immigration status of a former housekeeper, transition officials said.

CNNMoney: Renewable energy's biggest wishupdated: Thu Sep 25 2008 15:38:00

While politicians of all stripes are vying to be seen as saviors in the energy crisis, Congress isn't giving renewable energy investors the one thing they say would help the most - long-term tax credits.

CNNMoney: Beware the $7,500 'tax credit'updated: Tue Aug 19 2008 07:17:00

Washington policy makers and housing industry insiders hope a new tax credit for first-time home buyers will get the moribund housing market moving again.

CNNMoney: Builders' confidence holds at record lowupdated: Mon Aug 18 2008 13:05:00

Homebuilders' confidence in the housing market remained at record low levels, a trade group said Monday.

CNNMoney: Vote near in Senate showdown over economyupdated: Wed Feb 06 2008 10:02:00

Amid growing fears that a recession is imminent, the Senate is poised for a showdown over politically contentious proposals intended to spur the economy.

Super Tuesday forces delay of stimulus voteupdated: Thu Jan 31 2008 17:15:00

A Senate vote on an economic stimulus package must wait until next week, Senate Majority Leader Harry Reid said Thursday, allowing senators on the campaign trail to return to Washington.

FSB: Senate stimulus looks better for businessesupdated: Thu Jan 31 2008 11:10:00

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.

CNNMoney: Senate panel approves economy planupdated: Thu Jan 31 2008 10:26:00

The Senate Finance Committee on Wednesday approved a proposal intended to curb a further slowdown in the economy.

CNNMoney: Stimulus proponents need to navigate Senateupdated: Fri Jan 25 2008 12:41:00

Bipartisan cooperation was the keyword of the day Thursday when House leaders and administration officials announced a $150 billion plan to stimulate the economy.

CNNMoney: Tax break tug-of-war on tapupdated: Tue Oct 30 2007 12:43:00

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.

FSB: Senate mulls small biz healthcare reformupdated: Fri Oct 26 2007 10:01:00

On Thursday the Senate Finance Committee considered options to expand health care coverage for small business employees. Half the nation's 47 million uninsured workers are employed by small businesses, according to a committee press release, and coverage offered to small business employees is declining rapidly.

CNNMoney: Iraq progress reportupdated: Thu Sep 13 2007 05:23:00

Iraq progress report

CNNMoney: Senate approves increase in national debt limitupdated: Thu Sep 13 2007 05:23:00

A Senate panel on Wednesday approved an increase in the limit on the national debt to $9.82 trillion, the fifth increase in the government's borrowing limit since President Bush took office.

CNNMoney: Senate taxwriters take on fund manager payupdated: Tue Jul 31 2007 05:05:00

Some of the highest-earning Americans are paying a lower percentage of tax on some of their income than everyone else. Whether or not that's justified was the subject of a Senate Finance Committee hearing on Tuesday.

CNNMoney: Senate to up pressure on Chinese yuanupdated: Tue Jul 24 2007 02:10:00

The Senate Finance Committee will begin drafting legislation on Thursday that is intended to boost pressure on China to let its currency rise in value, a committee aide said on Tuesday.

Time.com: Senate Panel OKs Child Health Billupdated: Fri Jul 20 2007 01:00:00

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

CNNMoney: Private equity: Hike taxes and we may not playupdated: Wed Jul 11 2007 05:02:00

What happens when you boost taxes on high-income folks who manage $2 trillion that is integral to capital markets and spurs innovation, creating the Googles and Genentechs of the world?

CNNMoney: AMT penalty: The ultimate insultupdated: Thu Jun 28 2007 05:46:00

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.

Fortune: Raising taxes on VCsupdated: Wed May 16 2007 11:02:00

At first glance, private equity and venture capital are kissing cousins - same partnership structure, same investment pool, same pedigreed MBAs. But ever since the Senate Finance Committee this spr...

CNNMoney: Private equity tax talk amplifiesupdated: Tue May 08 2007 15:15:00

Taxes undoubtedly are weighing heavily on the minds of private equity's kings these days.

CNNMoney: Private equity gets a bigger slice of the pieupdated: Wed Apr 18 2007 11:56:00

Private equity's titans may be getting even richer.

CNNMoney: In Senate, minimum wage, execs' pay in playupdated: Tue Jan 16 2007 17:31:00

The Senate Finance Committee approved a bill Wednesday that would give tax breaks to small businesses but would also close tax loopholes for CEO pay and large corporations.

CNNMoney: Report: Executive pay law may changeupdated: Wed Sep 06 2006 06:50:00

A leading senator says Congress is looking at reducing or even eliminating a lucrative tax deduction that make companies more likely to grant stock options, according to a published report.

Report: Border guards failed to detect fake IDsupdated: Wed Aug 02 2006 09:17:00

They carried fake IDs and used phony names. But the ne'er-do-wells -- actually plain-clothed government investigators -- were able to get into the United States anyway.

CNNMoney: Republicans drop energy tax provisionupdated: Tue May 02 2006 07:32:00

Senate Republicans have withdrawn a tax provision in their energy legislation that would have generated billions of dollars by changing the way businesses treat inventories for tax purposes, according to a report in The New York Times.

CNNMoney: 'Backdoor windfall tax' stirs the potupdated: Wed Nov 16 2005 16:31:00

NEW YORK (CNN/Money) - There's been a heated debate going on around the Beltway about whether to impose a "windfall profit tax" on the oil industry, which has profited handsomely from soaring oil prices earlier this year.

CNNMoney: Big difference in tax bills on the Hillupdated: Wed Nov 16 2005 09:19:00

NEW YORK (CNN/Money) - The tax panels of the House and Senate each passed tax bills Tuesday evening that differ in two key ways: Only the House version calls for an extension of the reduced rates on capital gains and dividends; while only the Senate version calls for major AMT relief in 2006.

CNNMoney: Senate tax bill nixes tax-cut extensionupdated: Tue Nov 15 2005 15:35:00

NEW YORK (CNN/Money) - After postponing its vote three times in less than a week, the Senate Finance Committee on Tuesday looks set to vote on a proposed tax bill that has one big change from the original.

Wagging the GOP dogupdated: Mon Nov 14 2005 08:11:00

Last Wednesday, leaders of conservative and moderate factions in the House Republican conference sat down to discuss a joint call for new leadership elections. No agreement was reached, and the events of the next 24 hours destroyed the budding coalition while exposing the ineffectiveness of current leaders. Abandonment of oil drilling in the Arctic failed to appease the moderate bloc, and the leaders pulled down the budget-cutting bill late Thursday.

CNNMoney: No major AMT relief in House billupdated: Fri Nov 11 2005 12:43:00

NEW YORK (CNN/Money) - Instead of including a provision for major AMT relief in 2006, House Ways and Means Committee Chairman Bill Thomas (R-Calif.) opted instead to propose a two-year extension of reduced tax rates on capital gains and dividends in a tax bill he introduced late Thursday.

CNNMoney: Grassley delays vote on tax billupdated: Thu Nov 10 2005 13:17:00

NEW YORK (CNN/Money) - The Senate Finance Committee on Thursday postponed its vote on a $68.8 billion, five-year tax reconciliation bill, according to published reports.

CNNMoney: Grassley: no Social Security reform nowupdated: Tue Nov 08 2005 12:16:00

Social Security system reforms may have to wait until 2009, the Republican Senator leading the effort said Tuesday.

CNNMoney: United's pension loophole flight planupdated: Tue Jun 07 2005 07:09:00

United Airlines used loopholes in federal pension laws to treat its pension funds as solid for years, when in fact they were dangerously weakening, according to a published report.

CNNMoney: Social Security grabs Senate attentionupdated: Mon Apr 25 2005 16:30:00

The next stage in the battle over Social Security reform begins Tuesday on Capitol Hill, as experts come before the Senate Finance Committee to debate how best to achieve solvency in the system -- with and without individual investment accounts.

Fortune: Dumbed-Down Economics Lately all we're hearing is cheap economic rhetoric from institutions and people who updated: Mon Jan 07 2002 00:01:00

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...

Money Magazine: A Billion Here, A Billion There...updated: Sat Dec 01 2001 00:01:00

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...

Fortune: Old General Fading Away?updated: Mon Feb 07 2000 00:01:00

Few people in Congress are as important to business as the chairman of the Senate Finance Committee, the panel responsible for tax, trade, and health-care legislation. As a result, Senator William ...

Fortune: When It Comes to Tax Cuts, Washington Is Thinking Small SOCIAL SECURITY REFORM? FORGET IT THIS YEARupdated: Mon Apr 12 1999 00:01:00

In Washington, the timing has rarely been better for a major tax cut. Instead of those nasty old deficits, there's nothing but budget surpluses as far as the eye can see. Republicans, who generally...

Fortune: OF BLOWHARDS AND BLOWHOLESupdated: Mon Aug 18 1997 00:01:00

Congress' pending tax bills are retro to the max. As in the bad old days, they bestow special favors on narrow interests, from bakers to skydivers. They benefit people with lots of money by cutting...

Fortune: A TIMELY DEATH FOR A DUMB TAX CONGRESS IS ABOUT TO MAKE THE 401(K) A LOT MORE APPEALINGupdated: Mon Jul 21 1997 00:01:00

Congress is about to declare success a virtue again, and not in its typically windy way. With remarkably little fanfare, lawmakers are headed toward repealing a law that for good reason has been du...

Money Magazine: SUPPORT BUILDS FOR SAVING THE SOCIAL SECURITY SYSTEM BY INVESTING IN STOCKSupdated: Wed Jan 01 1997 00:01:00

THIS MONTH:

Money Magazine: HOW GRAMM'S NEW RULES COULD BE A BLOW TO INVESTORSupdated: Sun Sep 01 1996 00:01:00

In MONEY's December issue, we explained how the system for regulating investment advisers is flawed ("The Big Bad News About Fee-Only Financial Planners"). Now legislation sponsored by Sen. Phil Gr...

Fortune: Barbra's mother talks, unfree speech in Berkeley, laughless on the Internet, and other matters. WITLESS ON THE INTERNETupdated: Mon Aug 22 1994 00:01:00

A social problem rated less urgent than urban poverty and yet more serious than infected hangnails is the quality of the jokes on the Internet. Wait. Does one really have to explain what the Intern...

Money Magazine: HOW CONGRESS DOES ITS TAXES Most tax-writing legislators hand off their own returns to pros -- or seek special help from the IRSupdated: Thu Apr 01 1993 00:01:00

Like most taxpayers, Clay Shaw of Fort Lauderdale finds the U.S. tax code almost incomprehensible. ''It is a rat's nest,'' he says. ''I'm a C.P.A. and a lawyer, and I got the highest grade in taxat...

Money Magazine: MONEY sent your message updated: Fri May 01 1992 00:01:00

Your voices are being heard in high places. Responding to the March Editor's Notes, more than 250 of you wrote in supporting a fully deductible IRA. We delivered those letters to the Senate Finance...

Money Magazine: BRING BACK THE IRA!updated: Sun Sep 01 1991 00:01:00

When we asked MONEY readers in June how they felt about efforts in Congress to revive the fully deductible Individual Retirement Account, we expected a shout of approval. After all, two small rando...

Money Magazine: CAST YOUR VOTE NOW ON THE SUPER-IRA Congress is sitting on a plan that could help pay for a first home, college, medical bills aupdated: Sat Jun 01 1991 00:01:00

MONEY readers approach unanimity on one issue: back in 1986, Congress should never have legislated away the universal deductibility of Individual Retirement Account contributions. Since it did, mor...

Fortune: READING BUSH'S LIPS NOWupdated: Mon Jun 04 1990 00:01:00

A low-deficit dinner is being prepared and despite wide Republican protest, increased taxes are on the table. President Bush has agreed to meet with congressional leaders for a budget summit, sayin...

Money Magazine: SNEAKY WAYS CONGRESS MAY TRY TO RAISE YOURTAXESupdated: Fri Jun 01 1990 00:01:00

Suddenly, Washington is abuzz about raising taxes to curb the budget deficit, estimated at as much as $200 billion for 1990 and $165 billion for 1991. No one knows whether income or sales taxes wil...

Fortune: NOW HERE THIS updated: Mon Feb 27 1989 00:01:00

-- CLAUDE ROSENBERG JR., 60, president of RCM Capital Management in San Francisco, on the degree of strictness needed to correct sometimes irresponsible and dishonest presentations by money manager...

Money Magazine: POINT OF VIEWupdated: Tue Nov 01 1988 00:01:00

Why we need the IRA deduction

Fortune: Signalsupdated: Mon Nov 09 1987 00:01:00

Starting pay for attorneys at New York's Cravath Swaine & Moore, often a bellwether for pay at other firms, has risen 8.7%, to $71,077. Price Waterhouse has upped its accountants' average starting ...

Fortune: A Most Disorientating Datum, Radicals Inc., Counting the Stars in Court, and Other Matters. Simplismupdated: Mon Jul 07 1986 00:01:00

Simplification: that was definitely the name of the game. That Senate Finance Committee tax bill was going to simplify the tax code. The Keeping Up Simplification File, as we have labeled this moun...

Fortune: Surreyismupdated: Mon Jun 23 1986 00:01:00

According to Bernard Wolfman, Fessenden Professor of Law at the Harvard Law School, ''Writers have not generally used quotation marks around the term 'tax expenditure' since 1974.'' That just shows...

Fortune: INFLATION IS TUNING UP FOR AN ENCORE Import prices are rising, energy costs are bottoming out, and the tax bill could hurt in thupdated: Mon Jun 09 1986 00:01:00

DISINFLATION has barely settled into the everyday economic lexicon, but the word is already on its way to obsolescence. After slowing for five years, the rate of inflation is due to turn up again. ...

Fortune: POLITICS & POLICY/SPECIAL REPORT UNSHELTERING REAL ESTATE The tax reform plan coming out of the Senate Finance Committee knoupdated: Mon Jun 09 1986 00:01:00

The Senate Finance Committee's tax reform plan rips apart tax shelters like a tornado racing through a trailer park. Like a tornado, the plan leaves some shelters untouched while it reduces others ...

Fortune: POLITICS & POLICY/SPECIAL REPORT IS THE PACKWOOD PLAN REVENUE NEUTRAL? The Senate Finance Committee's tax package just mightupdated: Mon Jun 09 1986 00:01:00

Is the Senate Finance Committee's tax proposal really ''revenue neutral'' ? Finance Committee Chairman Bob Packwood would certainly like you to believe that revenue lost (mainly because of lower ta...

Fortune: NOW HEAR THISupdated: Mon May 12 1986 00:01:00

''These young people who come into posses- sion of this money . . . oftentimes are the most spoiled brats on God's green earth. The less we encourage that (kind of thing), the better off they are.'...

Fortune: Buy high, sell higherupdated: Mon Apr 14 1986 00:01:00

Investors large and small continued to rush into the stock market. During one dazzling fortnight in mid-March, the Dow Jones industrial average set four new records and topped 1800 for the first ti...

Fortune: Upcoming updated: Mon Mar 17 1986 00:01:00

Early March: The Senate Finance Committee is scheduled to begin its markup of the tax reform bill. March 16: France elects a new National Assembly.

Fortune: SENATE BONANZA As the tax bill moves to the Senate Finance Committee, PAC money follows.updated: Mon Feb 03 1986 00:01:00

WHEN CONGRESS reconvenes in late January, a lot of well-heeled political action committees (PACs) will be targeting the Senate Finance Committee, which will decide the fate of the tax reform bill p...

Fortune: COVER STORY PROTECTIONISM: DOWN BUT NOT OUTupdated: Mon Oct 28 1985 00:01:00

The Reagan Administration's apparent new willingness to force down the dollar and vigorously enforce U.S. laws against unfair trade has given congressional moderates a much needed counter to propos...

Fortune: WHO THE LOBBYISTS FEAR MOST The list includes an unpredictable Senator, and another who has a long memory.updated: Mon Apr 01 1985 00:01:00

REPUBLICAN SENATOR Bob Packwood and ultraliberal Democratic Senator Howard Metzenbaum don't have much in common. But they share one dubious distinction. When a score of Washington's most influentia...

We recommend