IRS Should Get Tougher on Charities: GAO
Budget cutbacks have called into question the adequacy of IRS ability to police tax-exempt groups, the GAO says.
Coburn Calls for ‘Fairer, Flatter’ Tax Code
Best solution would be to throw it out and start again, but in the meantime, he calls for end to preferences on municipal bonds, carried interest, cash-value life insurance and credit unions.
Senators Vow More Work on Housing After Voting to Wind Down Fannie, Freddie
Members of the Senate Banking Committee said they’d keep working to overhaul the housing finance system after casting a narrow vote to advance the bill.
Yellen Confirmed by Senate to Become Fed Chairman
Yellen, who will replace Bernanke after Jan. 31, will be the first woman to head the central bank in its 100-year history.
NARAB II Bill Clears Senate Banking Committee
The bill would establish the National Association of Registered Agents and Brokers, a nonprofit, independent board to provide a mechanism for multistate licensing for insurance producers
Fixing the Student Loan Crisis
I’m lucky. Unlike so many college students, I didn’t take out any student loans.
Sen. Schumer: ‘Scrap’ Simpson-Bowles in Fiscal Cliff Talks, Raise Top Tax Rates
Schumer says “old style” tax reform is now obsolete because there are two new conditions that exist today that didn’t exist when the Tax Reform Act of 1986 was passed: “a much larger, more dangerous deficit, and a dramatic increase in income inequality.”
Senate Republicans on Finance Committee Urge Deficit Panel to Make Changes
Republican senators' recommendations to the Joint Select Committee on Deficit Reduction include repealing the Alternative Minimum Tax and the health-care law and reforming Social Security.
Biden ‘Confident’ on Deficit Cuts as Senate Votes to Keep Ethanol Subsidy
Even as Vice President Joe Biden gave his most optimistic assessment yet of budget talks he's leading, President Barack Obama's Democratic allies in the Senate signaled Tuesday a harder line on Medicare.
Senators Slam Goldman in Release of Financial Crisis Report
‘Goldman clearly misled their clients and they misled the Congress,’ Levin says.