Legislation
Breaking news and analysis on the latest legislation and activities affecting financial services from Capitol Hill.
House Passes Bill Requiring SEC to Update Small Business Definition
By Melanie WaddellThe Investment Adviser Association supports the bill, saying the current definition of a small RIA is "inexplicably" low.
May 28, 2023
Biden, McCarthy Forge Debt Deal in Bid to Avert DefaultThe deal would clawback funding for IRS agents and speed up some energy project environmental reviews, according to a GOP summary.
May 26, 2023
Emerging U.S. Debt Deal Would Raise Limit, Cap Spending for 2 YearsThe tentative deal would cut $10 billion from the $80 billion IRS budget increase and would upgrade the electric grid.
May 25, 2023
New Bipartisan Bill Could Help Tax Extension FilersClients could stay on good terms with the IRS by paying 125% of what they paid the previous year.
May 24, 2023
Bill to Fix Big Secure 2.0 Drafting Errors Is ComingOne error: a provision that would errantly prohibit catch-up contributions in 401(k) plans and IRAs.
May 24, 2023
Odds of U.S. Going Past Default Date Are 25% and Rising: JPMorganA potential deal including spending cuts could reduce gross domestic product by 0.1% to 0.5% in 2024, said the bank's chief economist.
May 22, 2023
New Bill Would Exclude Social Security From Income TaxThe bill would threaten Social Security's solvency "while masquerading as a 'senior tax cut,'" a senior advocate says.
May 19, 2023
S&P 500 Could Plunge 20% if U.S. Fails to Raise Debt Ceiling: UBSThe analysis by the bank's strategists was posted Friday morning, before bipartisan talks in Washington were put on a "pause."