A rule lets the wealthy managers of private funds pay about half the tax rate they usually would—and it's unlikely to change soon.
WASHINGTON, Feb 13- The Republican Party's leading voice on taxes and budgets, Paul Ryan, said on Friday that the current Congress has only a few months to pull together a deal to overhaul the U.S. tax code. Washington has not been able to summon the political will to reform the loophole-riddled tax code for 28 years. Congress' energies in the autumn will be consumed...
Jan 20- Taxes would rise for high-earning investors, large banks and inherited wealth under a plan to be outlined by President Barack Obama in his State of the Union speech on Tuesday. Obama wants to raise the top capital gains and dividends tax rate to 28 percent, for couples earning more than about $500,000 a year, from its present level of 23.8 percent.
Changes in taxation, our position on the global stage, politics and the impact of baby boomers will help shape the U.S.
Surprise! Washington could be slightly less dysfunctional next year. Keep an eye on the debt ceiling, tax reform and mid-term elections. POLITICO's Ben White reports.
WASHINGTON, Nov 2- After the Nov. 6 elections, urgent tax and spending issues must be addressed, forcing Washington's power players to make some tough decisions before the end of the year. Regardless of who wins the Nov. 6 presidential election, Obama will be in the White House during the final months of 2012 when the ``fiscal cliff'' must be dealt with.
WASHINGTON, Oct 31- A U.S. free trade agreement with Panama went into force on Wednesday, five years after it was originally negotiated, opening the way for increased U.S. exports as the Central American country continues its canal expansion project.
``This trade deal will guarantee access to Panama's $20.6 billion services market and more than $15 billion in infrastructure projects...