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.
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.
The war on terror is being fought without some key generals.
Where does the battle for health care reform go from here? More importantly, what does it mean for you?
The nation's heath insurance industry issues a report that the White House calls flawed. CNN's Jim Acosta reports.
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.
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.
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.
The Senate Finance Committee completed debate on proposed health care legislation early Friday.
The Senate Finance Committee completed debate on proposed health-care legislation early Friday.
Senators on a key committee take a stand on a controversial health care reform provision. CNN's Jim Acosta reports.
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.
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.
House Democratic leaders are discussing adding a tax on insurers as a way to reduce the overall price tag of their health care bill.
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.
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.
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.
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.
The definition of "rich" may be going up should lawmakers choose to impose extra taxes on the wealthy to pay for health reform.
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.
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.
The real battle over health care reform is about to begin. CNN's Jim Acosta reports.
Lawmakers searching for a way to pay for health care reform are facing some rough waters.
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.
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.
The fallout continued Tuesday over $165 million in bonus payments paid to executives by bailed-out insurer American International Group.
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.
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.
Tom Daschle apologizes to President Obama and the American people for making a mistake on his taxes.
A Senate panel recommended that the full Senate confirm Tim Geithner as the next Treasury secretary.
So much for a smooth confirmation hearing for Timothy Geithner.
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.
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.
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.
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.
Homebuilders' confidence in the housing market remained at record low levels, a trade group said Monday.
Amid growing fears that a recession is imminent, the Senate is poised for a showdown over politically contentious proposals intended to spur the economy.
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.
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 approved a proposal intended to curb a further slowdown in the economy.
Bipartisan cooperation was the keyword of the day Thursday when House leaders and administration officials announced a $150 billion plan to stimulate the economy.
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.
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.
Iraq progress report
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.
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.
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.
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
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?
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.
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...
Taxes undoubtedly are weighing heavily on the minds of private equity's kings these days.
Private equity's titans may be getting even richer.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
Social Security system reforms may have to wait until 2009, the Republican Senator leading the effort said Tuesday.
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.
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.
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...
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...
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 ...
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...
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...
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...
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...
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...
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...
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...
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 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...
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...
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...
-- 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...
Why we need the IRA deduction
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 ...
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...
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...
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. ...
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 ...
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...
''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.'...
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...
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.
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...
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...
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...
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