Fed decision July 2022:

The Federal Reserve on Wednesday enacted its second consecutive 0.75 percentage point interest rate increase as it seeks to tamp down runaway inflation without creating a recession. In taking the benchmark overnight borrowing rate up to a range of 2.25%-2.5%, the moves in June and July represent the most stringent consecutive moves since the Fed … Read more

Dems push for a free IRS tax filing service. Tax pros are skeptical

Late. Elizabeth Warren, D-Mass., Questions Treasury Secretary Janet Yellen during the Senate Banking, Housing, and Urban Affairs Committee hearing on May 10, 2022. Tom Williams | Reuters Bill would replace Free File, allow for ‘return-free’ filing The Senate bill, known as the Tax Filing Simplification Act, directs the IRS to create a free, online service, … Read more

Warren asks bank regulator to reject TD deal after customer-abuse report

Late. Elizabeth Warren, D-Mass., Speaks during the Senate Armed Services Committee hearing on security in Afghanistan and in the regions of South and Central Asia, in Dirksen Building on Tuesday, October 26, 2021. Tom Williams | CQ-Roll Call, Inc. | Getty Images Lawmakers led by Sen. Elizabeth Warren asked a key regulator to block Toronto-Dominion … Read more

Sanders, Warren bill would extend Social Security’s solvency, expand benefits

Late. Elizabeth Warren, D-Mass., And Sen. Bernie Sanders, I-Vt., At the 10th Democratic primary debate of the 2020 presidential campaign season in Charleston, South Carolina, on Feb. 25, 2020. Jim Watson | AFP | Getty Images Sens. Bernie Sanders, I-Vt., And Elizabeth Warren, D-Mass., Introduced a new bill on Thursday that aims to extend Social … Read more

Biden to nominate Michael Barr as Fed bank regulator

US President Joe Biden announces the nomination of Federal Reserve Chair Jerome Powell for a second four-year term, and Federal Reserve board member Lael Brainard to serve as vice chair, in the Eisenhower Executive Office Building’s South Court Auditorium at the White House in Washington, US, November 22, 2021. Kevin Lamarque | Reuters President Joe … Read more

There’s a growing interest in wealth taxes on the super-rich

Late. Ron Wyden, D-Ore., Speaks during a Senate Finance Committee nomination hearing on Feb. 23, 2021. Greg Nash | Pool | Reuters Americans increasingly favor a wealth tax on the ultra-rich. But despite an uptick in proposals, these policies have struggled to gain traction. President Joe Biden in March unveiled the latest federal wealth tax … Read more

Sen. Elizabeth Warren lauds Biden billionaires’ tax, calls for even more CEO pay changes

US Senator Elizabeth Warren (D-MA) questions Treasury Undersecretary For Domestic Finance Nellie Liang as she testifies before the Senate Banking Committee, in Washington, DC, February 15, 2022. Win McNamee | Pool | Reuters Late. Elizabeth Warren on Tuesday praised the Biden administration’s renewed effort to introduce a new tax on the country’s wealthiest households, calling … Read more

Sen. Elizabeth Warren says billionaires should pay more taxes to help the ‘next Elon Musk

Elon Musk and fellow billionaires should pay it forward in taxes to support the next generation of entrepreneurs who can make a difference, Sen. Elizabeth Warren, D-Mass., Told CNBC on Tuesday. “I’m happy to celebrate success, but let’s remember, Elon Musk did not make it on his own. He got huge investments from the government, … Read more