Continuing months of progressive opposition to the bipartisan Tax Relief for American Families and Workers Act, U.S. Sen. Bernie Sanders on Thursday voted against advancing the bill and highlighted how it would give tax breaks to major corporations.The bill passed the House 357-70 in January, shortly after it was negotiated by Senate Finance Committee Chair … Read more
The Greenbook for Fiscal Year 2025, containing the Biden administration’s budget proposals, contains a mixture of recommendations, many of which have been considered in one form or another in past years. Nevertheless, it lays out the administration’s blueprint for a wish list, and in some cases signals issues to prepare for. “As time has gone on, … Read more
Sen. J. D. Vance and Sen. Sheldon Whitehouse introduced a bill called the Stop Subsidizing Giant Mergers Act, which would end tax-free mergers and taxpayer subsidies for acquisitions that consolidate corporate power. The bill would require shareholders who receive stock through mergers and acquisitions to owe capital-gains taxes immediately, apply to deals involving firms with annual gross receipts of more than 0 million over a three-year span, and aim to close unfair loopholes that allow these deals to escape tax liability.