Legislation
Breaking news and analysis on the latest legislation and activities affecting financial services from Capitol Hill.
House to Vote on Accredited Investor Definition Bill This Week
By Melanie WaddellThe bill's sponsor says limiting private investments to people meeting certain financial thresholds is an outdated practice.
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."
May 19, 2023
McCarthy Pauses Debt-Limit Talks as Clock Ticks Down"We caution investors not to overestimate how quick or smooth the path to the finish line will be," said Evercore strategist Tobin Marcus.