Legislation
Breaking news and analysis on the latest legislation and activities affecting financial services from Capitol Hill.
Rich Wall Streeters Face Shock Tax Hike While Rest of Wealthy Escape
By Laura Davison and Devon PendletonSenator Joe Manchin supports ending the carried interest tax break and increasing IRS audits but has rejected raising the $10,000 SALT deduction.
July 21, 2022
House Again Asks SEC for an Index-Linked Annuity Filing FormThe House attached similar pleas to the 2020 and 2021 appropriations packages.
July 21, 2022
Bill to Require SEC Investor Testing Is RevivedInvestor testing would be required prior to issuing disclosure rules for retail investors.
July 21, 2022
Sanders' Tweet on Power of Vanguard, BlackRock, State Street Raises EyebrowsFinancial pros piled on after Sanders called the firms' index fund holdings "obscene." But politicians on both sides have concerns.
July 18, 2022
Defense Bill Could Help Cannabis Workers Save for RetirementThe NDAA bill includes the text of the SAFE Banking Act legislation, according to the Insured Retirement Institute.
July 18, 2022
2 Ways Secure Act 2.0 Could Help Small BusinessesA "Starter 401(k)" provision would give the smallest businesses an entry point to helping employees save for retirement.
July 15, 2022
House-Passed Defense Bill Includes AML Rule for AdvisorsThe bottom line is that anti-money laundering rules are "on the horizon for investment advisors," says the Investment Adviser Association.
July 15, 2022
Manchin Says He'll Reconsider Biden's Tax, Climate Plan in SeptemberHe's willing to consider steps to lower prescription-drug prices and extend enhanced Affordable Care Act subsidies in the meantime.