Expanded IRS free-file system one step closer in Dems’ bill

WASHINGTON (AP) — The flagship climate change and health care bill passed by Democrats and soon to be signed by President Joe Biden will bring US taxpayers one step closer to a government-operated electronic free-file tax return system. It’s something lawmakers and advocates have been seeking for years. For many Americans, it’s frustrating that beyond … Read more

Inflation Reduction Act may have little impact on inflation

WASHINGTON (AP) — With inflation raging near its highest level in four decades, the House on Friday gave final approval to President Joe Biden’s landmark Inflation Reduction Act. Its title raises a tantalizing question: Will the measure actually tame the price spikes that have inflicted hardships on American households? Economic analyzes of the proposal suggest … Read more

Wisconsin Assembly leader fires the former judge he hired to investigate voter fraud

CNN — Wisconsin’s Assembly Speaker Robin Vos on Friday fired the conservative former state Supreme Court justice he hired last year to investigate fraud in the 2020 election – ending a controversial probe that drew bipartisan criticism. Vos first hired Michael Gableman in July 2021 as a special counsel under pressure from former President Donald … Read more

Passage of Inflation Reduction Act gives Medicare historic new powers

A pharmacist collects medications for prescriptions at a pharmacy. Simon Dawson | Bloomberg | Getty Images Medicare is poised to renegotiate the prices of some of its most expensive drugs through a historic expansion of its power, which could reduce costs for many seniors as well as federal spending on its prescription drug plan. The … Read more

Congress OKs Dems’ climate, health bill, a Biden triumph

WASHINGTON (AP) — A divided Congress gave final approval Friday to Democrats’ flagship climate and health care billhanding President Joe Biden a back-from-the-dead triumph on coveted priorities that the party hopes will bolster their prospects for keeping their House and Senate majorities in November’s elections. The House used a party-line 220-207 vote to pass the … Read more

Bolton ’embarrassed’ at ‘low price’ allegedly offered in assassination plot

Former national security adviser John Bolton on Wednesday said that the price a member of Iran’s Islamic Revolutionary Guard Corps (IRGC) allegedly attempted to pay people to kill Bolton was lower than he expected. “The suspect put a $300,000 price tag on your head,” said anchor Wolf Blitzer on CNN’s “Situation Room.” “What goes through … Read more

Karine Jean-Pierre roasted over ‘Orwellian’ tweet touting ‘0% inflation’

President Biden’s top spokesperson was accused of lying on Wednesday in a tweet touting “0% inflation in July” — even as federal data indicated that the consumer price index rose by 8.5% year over year. “We just received news that our economy had 0% inflation in July,” White House press secretary Karine Jean-Pierre tweeted on … Read more

How Wall Street wooed Sen. Kyrsten Sinema and preserved its multi-billion dollar carried interest tax break

US Senator Kyrsten Sinema (D-AZ) waits for an elevator to go to the Senate floor at the US Capitol in Washington, US August 2, 2022. Jonathan Ernest | Reuters Long before Sen. Kyrsten Sinema, D-Ariz., held up a massive spending bill that promised to create jobs, invest in clean energy and tax the rich — … Read more

Republicans rush to Trump’s defense after FBI executes search warrant at Mar-a-Lago

CNN — Top congressional Republicans are rushing to form President Donald Trump’s defense after the FBI executed a search warrant at his Mar-a-Lago resort in Florida as part of an investigation into the handling of potentially classified material. House Minority Leader Kevin McCarthy told Attorney General Merrick Garland to “preserve your documents and clear your … Read more

Biden signs China competition bill to boost U.S. chipmakers

[ The stream is slated to start at 10 a.m. ET. Please refresh if you do not see a player above at that time.] President Joe Biden on Tuesday signed a bipartisan bill that aims to strengthen US competitiveness with China by investing billions of dollars in domestic semiconductor manufacturing and science research. “Today is … Read more