House Republicans, led by Speaker Paul Ryan (R., Wis.), have introduced their tax reform plan, which would simplify the tax code so it could fit on a postcard.
Taxes have eaten up a larger share of average household market income during President Obama’s time in office, according to data from the Congressional Budget Office.
House Republicans led by Speaker Paul Ryan (R., Wis.) introduced a plan on Wednesday that would stand as an alternative to Obamacare if the law were repealed and replaced.
One in four of all black, Asian, and female employees at the Consumer Financial Protection Bureau reported that they had been victims of discrimination, according to a Government Accountability Office report.
Economists estimate that the probability of a recession starting next year is at 21 percent, up from 10 percent a year earlier, the Wall Street Journal reported.
Sen. Rob Portman (R., Ohio) is demanding answers from the Department of Health and Human Services (HHS) on the causes and consequences of the failed Obamacare co-op program in Ohio.
The Philadelphia City Council passed a soda tax of 1.5 cents per ounce on Thursday, CNN Money reported.
Federal Reserve Chairwoman Janet Yellen said that the central bank might consider using helicopter money in an extreme economic downturn, at a press conference following the Federal Open Market Committee meeting on Wednesday.
Americans will spend more than 8.9 billion hours and $409 billion complying with the tax code in 2016, according to a report from the Tax Foundation.
The policy making arm of the Federal Reserve is leaving the federal funds rate at a quarter of a percentage point, unchanged from the rate decided upon at the last meeting in April, according to the Federal Open Market Committee’s statement.