House bill targets "carried interest" taxes
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A bill to raise taxes on "carried interest" compensation awarded to private equity firm partners was introduced on Friday by 14 Democratic members of the U.S. House of Representatives.
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Fueled in part by election-year politics, a bill loaded with tax breaks and topped off by a $10.1 billion buyout for tobacco farmers was advancing toward a final vote in the House as early as today.
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It is a well-worn axiom that money follows power. And that was certainly borne out by the mid-year campaign finance reports just filed by all U.S. House members Ã¢ÂÂ which exhibit the strengthened fundraising clout of the Democrats since they captured the majority of seats in last yearÃ¢ÂÂs elections.
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Faster than you can say &quot;bonus depreciation allowance,&quot; lawmakers adopted two tax bills this year that could have a significant impact on your taxes in 2004 and 2005.
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WASHINGTON -- Interest rates on short-term Treasury bills were mixed in yesterday's auction with three-month bills unchanged while six-month bills rose to the highest level in two weeks.
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Several important new tax laws that have passed Congress during this fall&#39;s pre-election period. Two major tax laws have been approved: the Working Families Tax Relief Act of 2004 and the American Jobs Creation Act of 2004 .
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Homeowners who lose their house to foreclosure would no longer face a federal tax bill for their unpaid mortgage debt under a bill being drafted in U.S. House of Representatives, a congressional aide said on Friday.
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Bloomberg - Dec. 8 (Bloomberg) -- House lawmakers are working to pass legislation to extend dozens of trade and tax benefits and preserve fees that Medicare pays doctors knowing that some senators may object when it gets to their chamber.
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Legislation to lower interest rates on student loans and increase aid to poor people who want to go to college won House approval on Wednesday.
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By ANDREW TAYLOR WASHINGTON - In Washington, it pays to read the fine print. The Iraq funding bill is a perfect example, studded with provisions to help dairy farmers, airlines, salmon fisherman and rural counties hurt by cutbacks in federal logging.
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A Republican House aide was the prime mover behind a provision letting more lawmakers look at Americans' income tax returns, a spokesman for the House Appropriations Committee said Friday.
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A huge tax bill that Congress passed last week contained a little-noticed gift for select corporations -- tens of millions of dollars in breaks on import tariffs.
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WASHINGTON -- The House last night passed a massive business-tax bill aimed at settling a trade dispute with the European Union and propping up domestic manufacturers.
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WASHINGTON | The private equity industry's lobbying juggernaut may be able to crush proposed legislation that would increase the tax burden on firms that go public.
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Hoping to stem a tide of rising  pension debt, a California legislator will propose a  controversial overhaul on Monday that would convert traditional  public employee retirement plans to privately managed  401(k)-style plans, the Los Angeles Times reported on Sunday.
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The U.S. House of Representatives on Thursday voted to increase the federal credit limit by &#36;800 billion to &#36;8.184 trillion, a move that will allow the measure to be sent to President Bush for signing into law.
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Several of the tax provisions that expired at the end of 2005 and may be renewed in tax legislation being considered by Congress: