Taxes
‘Santo Mayorkas’: DHS secretary’s final tally tops $3 billion in extra vacation time for employees
Homeland Security Secretary Alejandro Mayorkas blessed his employees with another three days of taxpayer-funded vacation time, bringing his four-year total to more than six weeks -- the equivalent of $3 billion -- of bonus time off.
Republicans eye big defense spending boost in party-line bill
Congressional Republicans, sick of the annual push-pull with Democrats over defense and domestic spending priorities, are planning to include a significant defense spending boost in their party-line budget reconciliation bill.
Georgia Gov. Brian Kemp wants to again speed up income tax cuts
Georgia Gov. Brian Kemp wants to again speed up state income tax cuts and is warning lawmakers that he'll call them back into special session later this year if that's what it takes to push through his priority of limiting lawsuit verdicts.
Treasury nominee tells his confirmation hearing that Trump can unleash an ‘economic golden age’
U.S. Treasury nominee Scott Bessent told his confirmation hearing Thursday that President-elect Donald Trump has an opportunity to unleash "a new economic golden age."
Rep. Chip Roy says Republicans rejected House Freedom Caucus’ offer to support debt ceiling hike
Rep. Chip Roy said that his GOP colleagues denied an offer from him and fellow members of the hardline House Freedom Caucus to support hiking the nation's debt limit.
Biden’s big semiconductor law will ramp up U.S. chip production — but at a high cost, report finds
A sweeping 2022 law, touted by President Biden as a way to revive U.S. manufacturing of semiconductors and reduce the country's reliance on foreign-made computer chips, will "sharply increase production'' of semiconductors in the United States. But it will do so at a high cost and might not deliver the best bang for the buck, concludes a report out Wednesday by an economic think tank in Washington.
Ghost town: 10% of federal workforce is totally remote, 50% of the rest telework some days a week
Working remotely has consumed the federal bureaucracy to the point that 10% of the workforce -- some 228,000 employees -- never show up at an office, according to a new report Wednesday by the House's oversight committee.
Trump plans to launch External Revenue Service to process tariff payments
President-elect Donald Trump on Tuesday said he will create an External Revenue Service on the first day of his presidency to keep track of tariff payments and revenue flowing into the U.S. from foreign sources.
Why is Spain considering a 100% tax on homes bought by non-EU buyers?
Spain is planning a raft of measures to address its brewing housing crisis, including an up to 100% tax on properties bought by people who are neither citizens nor residents of the European Union.
Georgia’s governor details spending plans but not his top priority of lawsuit reform
Georgia Gov. Brian Kemp has prioritized limiting lawsuit verdicts but the plans he outlined before business leaders Tuesday were all about investing in infrastructure and education.
Bullets and lobster tails: Pentagon spends nearly $80 billion in one-month spree
The Defense Department went on its biggest monthlong spending spree since the height of the war on terror, dumping nearly $80 billion in a rush to empty its accounts before the end of the fiscal year.
DOGE challenge: Waste watchdog dares Musk, Ramaswamy to cut $800 billion lost to fraud
The federal government spends as much as $800 billion annually on fraudulent benefit payments, according to a leading expert, who said the incoming Trump administration could reduce the federal deficit without slashing departments or agencies.
Trump tax cuts, if made permanent, stand to benefit highest income earners, Treasury analysis shows
At the very top of Republicans' 100-day agenda with President-elect Donald Trump in the White House and GOP lawmakers in a majority is the plan to renew some $4 trillion in expiring tax cuts.
Republican lawmakers’ demands threaten to trip up Trump’s agenda
Enough House Republicans are drawing red lines in pursuit of steeper state and local tax deductions and deep spending cuts to throw a wrench in passing President-elect Donald Trump's agenda.
Road trip tumult: Energy Dept. blistered for wasting taxpayer money on electric vehicle boondoggle
Energy Secretary Jennifer Granholm abused American taxpayers with her 2023 publicity road trip in an electric vehicle, said an inspector general who accused her team of overselling their expenses on some travel vouchers and choosing expensive hotel rooms when cheaper ones were available.
Applications for jobless claims fall to 201,000, lowest level in nearly a year
U.S. applications for unemployment benefits fell to their lowest level in nearly a year last week, pointing to a still healthy labor market with historically low layoffs.
Republicans grapple with Trump’s position on package for tax cuts and spending
Republicans are divided on a strategy to move the Trump administration's agenda, and some want more input from President-elect Donald Trump, while others are fine to hash it out on their own.
IRS collects $1 billion in back taxes from high-wealth taxpayers
The IRS announced Thursday that it has collected $1 billion in back taxes from high-wealth tax cheats - a milestone meant to showcase how the agency is making use of the money it received as part of the Biden administration's signature climate, health care, and tax package signed into law in 2022.
Kathy Hochul pushes for tax increase after nixing toll program in Manhattan, N.Y.
On Wednesday, Gov. Kathy Hochul enraged environmentalists and public transit advocates - but delighted suburban commuters - by putting the brakes on a plan to battle New York City's traffic by imposing high tolls on Manhattan drivers.
The IRS is quicker to answer the phone on this Tax Day
On this Tax Day, the IRS is promoting the customer service improvements the agency rolled out since receiving tens of billions in new funding dollars through the Democrats' Inflation Reduction Act.
