A group of House Republicans is supporting legislation that would replace federal income, payroll, estate, and gift taxes with a 30 percent national sales tax.
Sales of new U.S. homes rose for the third straight month in December as high mortgage rates continued to decline, offering some relief for prospective homebuyers.
Treasury Secretary Janet Yellen asserted on Saturday that House Republicans attempting to negotiate spending cuts amid the renewed debt ceiling battle are “very irresponsible.”
The U.S. government bumped up against its debt limit Thursday, prompting the Treasury Department to take “extraordinary” accounting steps to avoid default — as friction between President Joe Biden and House Republicans raised concern about whether the U.S. can sidestep an economic crisis.
Big banks in the United States are getting ready to deal with shrinking profits due to factors like an overall difficult economic environment, despite the fact that interest incomes have risen over the past year.
The final act of the Democrat majority on the House Ways and Means Committee was to make public several years of Donald Trump’s tax returns, which the Committee obtained after a prolonged legal battle.
