Yahoo Finance Plus US House Speaker Nancy Pelosi will visit Asian countries including Singapore and Japan in her trip to the region, according to a statement from her office that skipped any mention of a possible stopover in Taiwan. John Liu reports on Bloomberg Television.
Taxpayers who take big deductions relative to income, own a business structured as a partnership or S corporation, trade crypto, or have income from foreign sources face increased likelihood of an IRS audit.
America desperately needs a better IRS that can police wealthy tax evaders who owe billions in unpaid taxes.
People with mild to moderate hearing loss could buy hearing aids without a prescription or a medical exam as early as October.
The signing Tuesday of the Inflation Reduction Act is set to kick off a parade of action from the Biden administration and other Democrats to sell the bill. A big aspect of the coming Democratic message is how the bill will quickly improve American’s lives.
The Inflation Reduction Act, which President Joe Biden signed into law Tuesday, says that if automakers want their electric vehicles to be eligible for tax credits, they'll need to have final assembly in North America. The law, which takes effect immediately, ends credits for about 70% of the 72 models that were previously eligible, according to the Alliance for Automotive Innovation. About 20 model year 2022 and early model year 2023 vehicles will still make the cut for EV tax credits of up to $7,500 through the end of the year under the new legislation.
U.S. President Joe Biden will sign legislation on Tuesday that will eliminate electric vehicle tax credits for most models currently getting up to $7,500 effective. The White House said Biden will sign legislation to approve the $430 billion climate, health and tax bill on Tuesday. The bill restructures the existing $7,5000 new EV tax credit and creates a new $4,000 rebate for used EVs.
Democrats are riding a wave of legislative successes between last summer and this year that few expected, and it totals $3.8 trillion in taxpayer money.
While smaller than Biden's original social and climate change ambitions, the Inflation Reducation Act advances many of the Democrats' goals.
President Joe Biden has signed the Inflation Reduction Act of 2022.
Three House Republicans did not vote Tuesday on the near total abortion ban bill, with one telling the chairman that “myself and many others are not in a position to vote for this bill without significant changes.”
Cuba plans to allow some foreign investment in local wholesale and retail trade for the first time since Fidel Castro's 1959 revolution, the government said late on Monday, in a bid to dig out of the island nation's worst economic crisis in decades. Deputy Trade Minister Ana Teresita Gonzalez said on an evening TV talk show that foreign investors would be allowed to fully own local wholesalers for the first time or enter the market through joint ventures. Retail would be more restricted but she opened the door to some public/private ventures in that sector as well.
Rebates and tax deductions will nudge consumers to buy energy-efficient systems and appliances, manufacturers say.
Under the current structure, Social Security and Medicare budgets are automatically approved and paid out, but under Wisconsin Republican Sen. Ron Johnson’s plan, Congress would have the chance to review and edit these programs’ budgets every year. “If you qualify for the entitlement, you just get it no matter what the cost,” Johnson said during an interview on “The Regular Joe Show.” “What we ought to be doing is we ought to turn everything into discretionary spending so it’s all evaluated so that we can fix problems or fix programs that are broken, that are going to be going bankrupt.”
Newly updated COVID-19 boosters tailored to target a dominant strain of the virus will be available in the next three weeks or so, assuming the Food and Drug Administration and Centers for Disease Control and Prevention work through their processes for authorization as expected. In late June, the FDA directed Moderna and Pfizer to make vaccines for the upcoming winter that targeted the more contagious BA.5 omicron subvariant, along with the original COVID strain.
Photo Illustration by Elizabeth Brockway/The Daily Beast/GettyIn a recent interview with Russian state media outlet TASS, the head of the Russian Foreign Ministry’s North American Department, Aleksandr Darichev, said that in the event the U.S. designates Russia a state sponsor of terrorism, it would represent “a point of no return” in relations between the two countries. Speaking on behalf of the country that ruthlessly invaded its smaller neighbor and is continually being accused of human right
The federal government has announced a tier 2 emergency based on Lake Mead water levels, requiring reductions for Arizona, Nevada and Mexico.
The Fargo, North Dakota, public school system is recruiting teachers from Florida who are disenfranchised by legislation regarding sexuality discussions in K-3 classrooms.
WASHINGTON (Reuters) -The U.S. Justice Department on Monday said it opposes unsealing the affidavit that prosecutors used to obtain a federal judge's approval to search former President Donald Trump's Florida home, where they seized classified documents. "If disclosed, the affidavit would serve as a roadmap to the government's ongoing investigation, providing specific details about its direction and likely course, in a manner that is highly likely to compromise future investigative steps," prosecutors wrote in their filing. Trump's Republican allies in recent days have ramped up their calls for Attorney General Merrick Garland to unseal the document, which would reveal the evidence that prosecutors showed to demonstrate they had probable cause to believe crimes were committed at Trump's home -- the standard they had to meet to secure the search warrant.
Now even moderate Republicans say they’ll focus on race and gender squabbles instead of getting things done for taxpayers. | Editorial
WASHINGTON (Reuters) -Buoyed by a string of legislative victories, Democrats and their allies are throwing money at key congressional races hoping to overcome President Joe Biden's poor approval ratings, high inflation and historical precedent in the November midterm elections. In the coming days, millions of dollars will flow into congressional races from groups outside the Democratic Party to tout Biden's $430 billion climate, healthcare and tax bill called the "Inflation Reduction Act," aides and allies to Biden tell Reuters. Climate, health and pro-Biden groups will target voters in swing districts with television, radio and internet ads, rallies, and bus tours.
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