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Senate Finance Committee

Coming Soon: Another London Whale Shocker?

Dimitri B. Papadimitriou | Posted 06.18.2013 | Business
Dimitri B. Papadimitriou

Did the London Whale revelations result in protections for bank customers -- and their federal insurers -- from this kind of gambling?

How Likely Is Carried Interest Reform?

Jeremy Scott | Posted 06.11.2013 | Politics
Jeremy Scott

Carried interest reform will almost certainly be part of any major tax reform bill offered by Camp or Baucus. But it's also possible that even if tax reform efforts fail or stall, carried interest legislation could find its way into an extenders package or as a pay-for for deficit reduction or an extension of the debt limit.

Medtronics Manipulates Safety Data -- When a Fine Should Become a Crime

Spencer Aronfeld | Posted 06.11.2013 | Business
Spencer Aronfeld

It is perfectly legal and common for physicians to prescribe medication and medical devices for "off-label" use. But the FDA prohibits manufacturers from directly promoting the unapproved use of their products.

IRS Scandal To Be Investigated By Senate Committee

AP | STEPHEN OHLEMACHER | Posted 05.13.2013 | Politics

WASHINGTON -- Sen. Max Baucus says the Senate Finance Committee will investigate the IRS targeting conservative political groups, joining a growing li...

Dilemma -- the Earned Income Tax Credit

Christopher Bergin | Posted 04.25.2013 | Politics
Christopher Bergin

Immediately, some began to assert that Baucus' announcement meant the end of tax reform. Pardon me if I differ, but if anything, it probably helps the tax reform effort a bit by concentrating Baucus more on it.

Senator's Former Aides Lobby Him To Shape Tax Legislation

The New York Times | Posted 04.07.2013 | Politics

WASHINGTON — Restaurant chains like McDonald’s want to keep their lucrative tax credit for hiring veterans. Altria, the tobacco giant, wants to cu...

Jack Lew Faces Questions Over NYU Bonus Ahead Of Treasury Secretary Confirmation

The Huffington Post | Eleazar David MelƩndez | Posted 02.26.2013 | Business

The day before a crucial Senate vote to confirm the nation’s next Treasury secretary, Obama nominee Jack Lew is facing questions about certain unusu...

Senate Panel To Vote On Obama Pick

AP | Posted 04.26.2013 | Politics

WASHINGTON — The chairman of the Senate Finance Committee says the committee will vote on Tuesday on the nomination of former White House chief ...

Lew Issues Dire Warning On Government's 'Self-Inflicted Wounds'

AP | MARTIN CRUTSINGER | Posted 04.15.2013 | Business

WASHINGTON — Jacob Lew, President Barack Obama's nominee for Treasury secretary, pledged to work with Congress on a comprehensive overhaul of th...

Jack Lew: Lowering Corporate Tax Rate A 'Challenge'

Reuters | Posted 04.15.2013 | Business

WASHINGTON, Feb 13 (Reuters) - Jack Lew, Obama's Treasury secretary nominee, said on Wednesday that it would be challenging to lower the corporate t...

8 Subjects Senators Should Bring Up at Jack Lew's Confirmation Hearing Today

Richard (RJ) Eskow | Posted 04.14.2013 | Politics
Richard (RJ) Eskow

Republican senators like Chuck Grassley may ask some excellent questions, but some of his colleagues are likely to be in attack mode. Here are eight lines of constructive senators should pursue, along with some specific questions for each of them.

Obama Treasury Pick Courts Senate Republicans

Reuters | Posted 03.25.2013 | Politics

By Rachelle Younglai and Anna Yukhananov WASHINGTON, Jan 23 (Reuters) - Senate Republicans on Wednesday offered encouraging words abou...

We Could All Pay Less Income Taxes By Getting Rid Of These

Reuters | Posted 12.12.2012 | Business

By Kim Dixon WASHINGTON, Oct 12 (Reuters) - Repealing most of the U.S. tax code's major itemized deductions - like those for mortgage ...

Disabled Veterans Charity Accused Of Misusing Millions Under Investigation

AP | MATT GOURAS | Posted 05.24.2012 | Impact

HELENA, Mont. -- U.S. Sen. Max Baucus of Montana said Wednesday that the legislative finance committee that he chairs is launching an investigation in...

Here Are Some Mandates That Already Exist

AP | RICARDO ALONSO-ZALDIVAR | Posted 04.02.2012 | Business

WASHINGTON -- The individual insurance requirement that the Supreme Court is reviewing isn't the first federal mandate involving health care. There's...

Exxon Profits Ironically Jump 41% While Our Government Snoozes Away

Raymond J. Learsy | Posted 01.03.2012 | Business
Raymond J. Learsy

Ironically, Exxon's significant increase in profits of late comes after its Chairman and CEO virtually pleaded in May with the pooh-bahs of the Senate Finance Committee to rein in the excessive speculation, if not manipulation, of oil on the commodity exchanges.

The Issue Getting The Biggest Buzz With Nonprofits Right Now

Posted 12.19.2011 | Impact

Nonprofit leaders at a Senate Finance Committee hearing Tuesday spoke out against the proposal to limit tax deductions for charitable contributions. ...

The Oil Market Plays Casino While the Obama Administration Acts as Croupier

Raymond J. Learsy | Posted 02.12.2013 | Business
Raymond J. Learsy

The Cramer interview is breathtaking in exposing the administration's total lack of understanding of the distorted formation of the price of oil and gasoline in today's markets and seemingly impervious to its cost to the economy and its destructive impact on jobs.

No, Obama, We Don't Need Free Trade Agreements with Panama, Colombia, and Korea

Ian Fletcher | Posted 09.14.2011 | Politics
Ian Fletcher

You think America has learned its lesson from NAFTA, which the Labor Department has estimated cost us 525,000 jobs? Think again.

IRS Drops Investigation Of 5 Donors Who Contributed To Politically Active Nonprofit Groups

AP | By STEPHEN OHLEMACHER | Posted 09.06.2011 | Politics

WASHINGTON -- The Internal Revenue Service is dropping its investigation of five donors for making contributions to the kind of nonprofit groups that ...

Michael McAuliff

Schumer: GOP Blocks Its Own Trade Deal To Hurt Economy

HuffingtonPost.com | Michael McAuliff | Posted 08.31.2011 | Politics

WASHINGTON -- Republicans' decision to block free-trade deals that they have previously supported is evidence that the GOP wants to hurt the economy t...

Dinosaurs and Fossil Fools

Lance Simmens | Posted 07.16.2011 | Green
Lance Simmens

"Dinosaur" means "terrible, powerful, wondrous lizard." It perfectly defines the fossil fools who argue for the continuation of federal tax subsidies as oil tops $100 per barrel, gasoline at the pump passes $4 a gallon and oil company profits top $35 billion so far in 2011.

'SEC's Revolving Door Seems To Be More Active Than Ever"

Posted 07.13.2011 | Business

WASHINGTON (Tim Reid) - At least 219 former officials at the Securities and Exchange Commission have left since 2006 to help clients with business...

Big Oil: Ending Our Tax Breaks Would Be 'Un-American'

Posted 07.12.2011 | Business

WASHINGTON (Timothy Gardner and Deborah Charles) - The world's biggest oil companies on Wednesday launched broadsides against Democratic plans to ...

Citizens United, an Assault on Our Democracy, Needs a Constitutional Amendment

Pearl Korn | Posted 05.25.2011 | Politics
Pearl Korn

To neutralize Citizens United, we must have a Constitutional Amendment to retake our democracy. It won't be an easy fight, but it is a fight worth having, as our democracy depends on it.