Displaying 31 results
Up to 26M Americans could get student debt relief under new plan
President Biden hopes his alternative plan will pass scrutiny.
Higher taxes for the rich, corporations
White House to propose higher taxes, including quadrupling share buyback tax.
Biden perpetuates advisor tropes, but end goal is valiant
The president's deal in describing a few bad apples risks tarring the whole industry with the same brush.
Credit markets keeping eye on debt ceiling negotiations
President Joe Biden has invited congressional leaders for a May 9 meeting after Treasury Secretary Janet Yellen suggested the US might exhaust its options to fund itself as early as June 1.
Biden vetoes bill blocking Labor Department ESG rule
The measure would have rescinded the DOL rule allowing retirement plans to consider environmental, social and governance issues in their investment decisions.
House Democrats pushing for SALT say they will vote for Biden tax bill
Representatives Josh Gottheimer, Tom Suozzi and Mikie Sherrill, who have led efforts to include an increase to the $10,000 cap on deductions for state and local tax, will support bill.
Wealthy business owners are at center of fight over Biden’s tax plan
Senate Majority Leader Chuck Schumer’s tax plan is key to the Democrats’ economic package.
Democrats push Biden to go big on forgiving student loan debt
Senate Majority Leader Chuck Schumer and fellow Democrats Elizabeth Warren and Raphael Warnock make appeal at White House.
A taxing situation
Last year’s attempt to raise taxes on the wealthy has catalyzed conversations between advisers and clients about tax strategies this season.
Coalition calls for retirement security task force
Key retirement industry groups urge President Biden to put in place a coordinated federal approach to the crisis.
Biden fires head of Social Security Administration
The political infighting won't affect the $1 trillion in benefits Social Security sends each year to 65 million Americans. But it will likely make it more difficult to begin work on a solution to the program's long-term financial challenges.
Biden wants to dismantle two tax strategies used by richest 0.1%
Technical provisions in the administration's tax proposals could disrupt dynasty trusts and intentionally defective grantor trusts, two ways that super wealthy people have legally avoided taxes for decades.
Banks’ robust capital mitigates risks, regulators tell Biden
At a meeting at the White House Monday, regulators including Fed Chairman Jerome Powell and SEC Chairman Gary Gensler reassured the president that the financial system is doing well.
Advisers blast Biden’s retroactive capital gains proposal
The effective date for the capital gains tax hike would be April 28, 2021, when the American Families plan was introduced, according to the Treasury Department’s Greenbook, a compendium of revenue proposals for fiscal 2022 that was released with the administration's $6 trillion budget proposal in May.
Biden tax plan forecast to bring in $3.6T in decade
The biggest surprise in Biden’s tax proposal is that it assumes an increase in the capital gains rate would be retroactive to April 2021, which would prevent wealthy people from selling off their assets quickly to avoid the hike.
Biden’s budget would raise annual spending to $6 billion
The budget will assume the increase in the top capital gains tax rate to 43.4% that Biden has proposed will be effective retroactive to late April.
Biden orders climate risk strategy for financial assets
The executive order mandates an assessment of how to reduce climate risks to financial stability; the assessment would also detail plans financial regulators have for bolstering disclosures.
Bid to protect farms from capital gains signals Democratic resistance to some tax hikes
President Biden likely will need to keep all Democrats on board to get his spending and related tax proposals through Congress.
Targeting tax cheats
President Joe Biden's plan is designed to boost IRS funding to lower the tax gap and raise $700 billion over 10 years.
Heeding tax winds, advisers chart new financial tactics for clients
Tax planning has become an urgent topic following President Joe Biden's proposal aimed at high earners and wealthy investors.
- 1
- 2
