Taxes & Budget
Coverage of the national budget and your taxes.
House Republicans looking to avoid shutdown, preparing stopgap measure
House Republicans are preparing a stopgap spending measure to avoid a government shutdown, facing their return from the summer recess with only 12 legislative days before the end of the fiscal year on Sept. 30.
IRS refused to pay stimulus checks, wrongly claiming taxpayers were dead
The IRS has taken plenty of flak for sending stimulus checks to dead people, but a new inspector general’s audit says the agency also has the reverse problem: It refused to send checks to some living people, claiming they were already dead.
IRS lost hundreds of packages with taxpayers’ information
Sometimes the IRS needs to send taxpayers’ documents from one location to another. The documents don’t always get there.
Mega Millions grand prize jackpot is up to $1.25 billion ahead of Friday’s drawing
After no ticket matched the grand prize numbers for the Tuesday Mega Millions drawing, the jackpot for the next drawing of the lottery on Friday has jumped up from $1.05 billion to $1.25 billion.
Virginia Republicans offer concession on tax plan as budget stalemate drags on
The top budget negotiator for Virginia House Republicans said Monday he offered a major compromise nearly two weeks ago that would end his party’s push this year for a reduction in the top individual tax rate, but he’s still waiting for a response from Democratic leaders.
DeSantis unveils new economic policy that targets China, taxes and regulations
In a new policy plan unveiled Monday, Republican presidential hopeful Ron DeSantis is taking aim at China with a “Declaration of Economic Independence” that also targets taxes, regulations, spending and education.
No taxpayer dollars to block Kirk Cameron library events, demand GOP senators
A group of Republican senators wants to know whether taxpayer funds have been used by the American Library Association to block readings of books by Christian author Kirk Cameron while the group advocates “drag queen story hours.”
Senate makes good on promise to pass Pentagon bill before break, tees up battle with House
The Democratic-controlled Senate passed its version of an annual Pentagon policy bill, setting up a battle with the GOP-led House when the chambers meet to reconcile the bills.
Bipartisan bill seeks to reinstate tax break Biden nixed for drilling oil wells
New legislation with bipartisan buy-in in Congress would restore tax breaks that were canceled by President Biden’s tax and climate spending law that critics say unfairly punished Big Oil.
IRS skimps on audits of high-dollar partnerships
The IRS barely audits taxpayers that file as large partnerships, and it bungles the selection process for those that it does audit by failing to pick the returns likeliest to be in arrears, Congress’ chief watchdog reported.
Mega Millions jackpot is now $910 million after months without a big winner
Lottery players will have another shot at a huge Mega Millions jackpot Friday night and a chance to break a stretch of more than three months without a big winner of the game.
House passes first spending bill, punts other spending bills until September
House Republicans passed their first federal funding bill on Thursday before lawmakers left for August recess, but hard-line conservatives’ demands for deep cuts await the remaining 11 spending bills that keep the government open.
America’s robust economy isn’t making Bidenomics any easier to sell to voters
President Biden is trying to persuade voters they are better off under Bidenomics, but it’s proving to be a tough sell to skeptical voters despite a string of upbeat economic indicators.
Economy will slow this year, but avoid recession: CBO
The 2024 presidential campaign will take place under a troubled economy, the Congressional Budget Office projected Wednesday, foreseeing slowing growth and rising unemployment.
