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45ae59f6be38e421749b1804ad67ec3f Archive

A New Global Minimum Corporate Tax

TweetShareSharePin0 Shares OECD reaches deal on global minimum corporate tax. The Organization for Economic Cooperation and Development (OECD) announced Friday that its group of developed nations agreed to a global minimum corporate tax rate of 15 percent. The deal, according to the OECD, will ensure that 100 of the largest multinational companies pay a fair

Senate Passes A Debt Limit Patch

TweetShareSharePin0 Shares The patch will tide the federal government over until December 3. Senate leaders passed a $480 billion increase to Treasury’s borrowing limit. The increase would give the US enough money to pay its bills until December 3. The House is expected to vote on the measure soon; the measure will then head to President

Stepping Off The Edge Of (But Still On) The Fiscal Cliff

TweetShareSharePin0 Shares Senate reaches a temporary debt limit deal. Senate Democrats appear to have accepted a proposal from Minority Leader Mitch McConnell that would allow the federal government to continue borrowing money into December. As usual, details still need to get resolved. But Republicans will no longer block a Democrats-only vote—for now. The agreement sets

How To Make Retirement Saving Easier For Millions Of Americans

TweetShareSharePin0 Shares Last month, a weekend of basement cleaning uncovered decades-old records of my first tax-advantaged individual retirement account (IRA) and three employer-sponsored retirement accounts I opened in my early twenties. My dad helped me open that first IRA with earnings from my high school job as a babysitter. He made saving easy for 16-year-old

Reconciliation Bargaining May Be Getting Serious, Recession Risk Rising…

TweetShareSharePin0 Shares Democrats may be narrowing their disagreements over budget reconciliation. President Biden pitched a social spending bill that could cost between $1.9 trillion and $2.2 trillion to a group of congressional progressives. That would be significantly lower than the $3.5 trillion version Biden first backed but more than the $1.5 trillion floated by moderate

Turning Up The Debt Limit Heat

TweetShareSharePin0 Shares Schumer: Debt bill vote this week. The Senate Majority Leader says he’ll call for a vote this week on a stand-alone bill to suspend the debt limit. “Let me be clear…: we must get a bill to the president’s desk…by the end of the week. Period,” Schumer told senators. Schumer and President Biden

Massive, Secret Offshore System Hid Billions of Dollars

TweetShareSharePin0 Shares And a blurry timeline for Democratic legislative priorities. President Joe Biden told House Democrats to delay action on the bipartisan infrastructure bill until they can agree on a scaled-back tax and spending package to fund the rest of his economic agenda. How long that will take is anybody’s guess. Senate Democratic leader Chuck

Massive, Secret Offshore System Hid Billions of Dollars

TweetShareSharePin0 Shares A blurry timeline for Democratic legislative priorities. President Joe Biden told House Democrats to delay action on the bipartisan infrastructure bill until they can agree on a scaled-back tax and spending package to fund the rest of his economic agenda. How long that will take is anybody’s guess. Senate Democratic leader Chuck Schumer

The Federal Government Remains Open, For Now

TweetShareSharePin0 Shares Good news for federal funding. The House and Senate voted yesterday to keep the government open through December 3, when they likely will have to do it all over again. Yellen wants to scrap the debt limit entirely. Treasury Secretary Janet Yellen told the House Financial Services Committee yesterday, “I believe it’s very

Checking One Item Off The Fiscal To-Do List

TweetShareSharePin0 Shares A clean continuing resolution. The House and Senate plan to vote today to keep the government running through December 3. After (twice) forcing Senate Republicans to block a bill to keep the government running and extend its borrowing authority, Democrats bowed to the inevitable and stripped out the debt limit measure. Unless both
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