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Tag Archives: Tax Credits, Deductions and Exemptions
Biden and E.U. Leader Seek Common Ground on Trade and Ukraine
President Biden and the European Commission president met to discuss how to effectively counter Russia and a potential trade deal for electric vehicles.
Biden’s $6.8 Trillion Budget Proposes New Social Programs and Higher Taxes
The president proposed trillions of dollars in new spending that has no chance of passing a Republican House, even as he sought to reduce deficits by raising taxes on business and the rich
Clean Energy Is Suddenly Less Polarizing Than You Think
G.O.P. elites are simply lagging behind their states.
Why the NY Metro Area Is Seeing an Explosive Growth in Electric Cars
Ownership rates of electric cars have more than doubled in New York City and the surrounding area, propelled by more varied models, more public charging stations and the fact they are now cheaper.
The Promise and Peril of Biden’s Climate Policy
It’s a really big deal — but will the grid be able to handle it?
And Child Care for All
Washington is ramping up investment in American corporations. The government needs to invest in American families, too.
IRS Decision Not to Tax Certain Payments Carries Fiscal Cost
The Biden administration has opted not to tax state payments to residents, a decision that could add to the nation’s fiscal woes.
What You Need to Know for the 2023 Tax Season
Doing taxes in 2023 feels a lot like it did before the pandemic. Still, there are some meaningful changes to keep in mind.
Why Investing at the Last Moment Can Hurt Your Returns
You can still put money in an I.R.A. for 2022, and that’s better than not investing at all. But an early start would have given you a great advantage, our columnist says.
Chip Makers Turn Cutthroat in Fight for Share of Federal Money
Semiconductor companies, which united to get the CHIPS Act approved, have set off a lobbying frenzy as they argue for more cash than their competitors.
How Arizona Is Positioning Itself for $52 Billion to the Chips Industry
The state has become a hub for chip makers including Intel and TSMC, as the government prepares to release a gusher of funds for the strategic industry.
Here’s What the Other Republican Candidates Should Say to Trump
You Can Use Your Tax Refund to Buy I Bonds, but Should You?
The answer depends on whether you’re looking to get high interest rates now or a safe investment with inflation protection over many years.
U.S. on Track to Add $19 Trillion in New Debt Over 10 Years
Congressional Budget Office projections released on Wednesday suggested rising interest rates and bipartisan spending bills are adding to deficits, amid a partisan fight on fiscal policy.
Electric Vehicles Could Match Gasoline Cars on Price This Year
Competition, government incentives and falling raw material prices are making battery-powered cars more affordable sooner than expected.
As Federal Cash Flows to Unions, Democrats Hope to Reap the Rewards
In places like West Virginia, money from three major laws passed by Congress is pouring into the alternative energy industry and other projects. “I think it’s a renaissance for the labor movement,” said one union official.
How to Get Government Aid to Ditch Fossil Fuels
Americans can get tax credits to go electric, but only if they have cash upfront. Other countries have programs, too.
Black Americans Are Much More Likely to Face Tax Audits, Study Finds
A new report documents systemic discrimination in how the I.R.S. selects taxpayers to be audited, with implications for a debate on the agency’s funding.
Climate Change May Bring New Era of Trade Wars, as E.U. and U.S. Spar
Countries are pursuing new solutions to try to mitigate climate change. More trade fights are likely to come hand in hand.
At Davos, European Distress Over a ‘Made in America’ Law
The U.S. Inflation Reduction Act stirred talk of a trade war, but also proposals for a similar E.U. initiative to stimulate green investment.
Savings Accounts for Disabled People Are Opened to More of Them
Only those who became disabled by age 26 have been eligible for ABLE accounts. But Congress raised the age to 46, so more military veterans and others can qualify as of 2026.
Your Tax Refunds May Be Smaller This Year
Credits that were expanded as part of pandemic relief have expired, as has the deduction for donations for people who don’t itemize.
Will New York City’s Soccer Stadium Cost Taxpayers $0 or $516 Million?
An independent budget analysis suggests that the city will be losing $516 million in tax revenue from its deal to place a new soccer stadium in Queens.
The New Soldiers in Propane’s Fight Against Climate Action: Television Stars
An industry group is spending millions of dollars to push back against efforts to move heating away from oil and gas.
Korean Solar Company Plans to Build $2.5 Billion Plant in Georgia
Hanwha Qcells expects to make solar panels and their components in the United States to take advantage of President Biden’s climate policies.
U.S. Pours Money Into Chips, but Even Soaring Spending Has Limits
Amid a tech cold war with China, U.S. companies have pledged nearly $200 billion for chip manufacturing projects since early 2020. But the investments are not a silver bullet.
Trump Tax Returns Undermine His Image as a Successful Entrepreneur
The release of former President Donald J. Trump’s private tax documents by the House Ways and Means Committee shows heavy losses from his own ventures as he continued to cash in on inherited assets.
Key Takeaways From Trump’s Tax Returns
Thousands of pages of tax documents contain details that have not previously been revealed. Here’s a running list of insights.
Tax Credits for Electric Vehicles Are About to Get Confusing
Foreign-made cars no longer qualify. Tesla and G.M. should become eligible again. But officials are still working on the fine print.
No Child Left Behind, Unless We Don’t Feel Like Dealing With It
The 117th Congress didn’t do two things for kids that the 118th really should.
Trump’s Taxes: Red Flags, Big Losses and a Windfall From His Father
The presidency of Donald J. Trump, a congressional report reveals, was marked by some of the same questionable tax maneuvers that had characterized his business career.
Electric Cars Are Taking Off, but When Will Battery Recycling Follow?
Many companies and investors are eager to recycle batteries but it could take a decade or more before enough used lithium-ion batteries become available.
How to Hand Out Billions in Climate Subsidies? Very Carefully.
John Podesta, the White House aide overseeing new tax credits, said rules were expected to be in place within months. Avoiding waste and fraud is a priority.
What to Know About the Child Tax Credit Being Debated in Congress
Policymakers are trying to bring back an expanded child allowance, but disagree on who should get it.
Biden’s Meeting With Macron Comes Amid Rising Trans-Atlantic Tensions
The president’s “Made in America” plan has drawn accusations of protectionism from Europe as the United States tries to keep its Western allies aligned against Russia.
What to Know About Herschel Walker’s Residency Status in Georgia
The Republican Senate candidate listed his Atlanta residence on public records as a rental property in 2021, while receiving a homestead exemption in Texas.
How a Lobbying Blitz Made Sports Betting Ubiquitous
The gambling industry and its allies got their way with lawmakers after showering them with donations, gifts and dubious arguments.
Many States Are Sending Checks to Help Residents With Inflation
Up to 20 are using some of their budget surpluses to help taxpayers deal with high inflation. But some economists worry that the payments could fuel inflation.
Will Taxing the Windfall Profits of Oil Giants Fix Countries’ Economies?
Britain is raising a tax on gas and oil producers, and adding a levy on companies that supply electricity — a similar approach to that of other governments chasing revenue.
Clean Energy Tax Break Draws Scrutiny of Natural Gas Plan in New Mexico
A defunct New Mexico coal plant would be revamped with the help of subsidies authorized by the new climate legislation, but a plan to rely on natural gas converted into hydrogen has generated criticism.
Your Paycheck Next Year Will Be Affected by Inflation. Here’s How.
If you get a raise, you may not end up in a higher tax bracket. But more of your income may be subject to Social Security taxes. And you’ll probably pay more for health care.
IRS Releases Inflation-Adjusted Tax Rates for 2023
Filers whose salaries have not kept pace with inflation could see savings on their federal income tax bills.
Democrats Spent $2 Trillion to Save the Economy. They Don’t Want to Talk About It.
Polls show voters liked direct payments from President Biden’s 2021 economic rescue bill. But they have become fodder for Republican inflation attacks.
Biden’s ‘Made in America’ Policies Anger Key Allies
The president’s plans to bolster America’s electric vehicle and battery production have opened a rift in relationships in Asia and Europe.
Spending on Children Surged During the Pandemic. It Didn’t Last.
As programs expire, federal spending is returning to prior levels: $1 for every $6 spent on older adults.
How Paul LePage, Running to Lead Maine, Benefited From Florida Tax Breaks
Mr. LePage, a former governor who is seeking to reclaim the office, has along with his wife benefited from property tax breaks reserved for permanent Florida residents, public records show.
Child poverty in the U.S. has fallen by more than half since the early 1990s.
Stimulus Spending Drove Poverty Lower Again in 2021, Census Bureau Reports
A measure that accounts for all federal subsidies showed that fewer people experienced severe economic hardship, while health insurance coverage rose.
How Poverty Programs Aided Children From One Generation to the Next
For families in West Virginia, which has had especially sharp drops in child poverty over the past three decades, the shift has played out in ways not fully captured by statistics.