Political Capital

Taxes

Representative David "Dave" Camp, a Republican from Michigan and chairman of the House Ways and Means Committee, speaks during a news conference in Washington, D.C., on Feb. 26, 2014.

Photograph by Andrew Harrer/Bloomberg

Representative David "Dave" Camp, a Republican from Michigan and chairman of the House Ways and Means Committee, speaks during a news conference in Washington, D.C., on Feb. 26, 2014.

Camp’s Bank Tax Drawing Party Fire

– written with Cheyenne Hopkins When Republican Rep. Dave Camp proposed a version of President Barack Obama’s bank tax, he irritated more than just the handful of companies that would be on the hook for $86.4 billion over the next...

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People cross a slushy Park Avenue on Feb. 18, 2014 in New York City.

Photograph by John Moore/Getty Images

People cross a slushy Park Avenue on Feb. 18, 2014 in New York City.

Income Taxes May Mean Economy Hasn’t Taken Much of a Weather Hit

The weather has helped produce some pretty weak readings of economic activity — that much even Federal Reserve Chair Janet Yellen has admitted. Federal tax receipts, however, are showing a picture of stronger growth. Income and payroll tax collection data...

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Ronald "Ron" Wyden, a Democrat from Oregon, center, arrives to the U.S. Capitol to vote on the nomination of Janet Yellen as chairman of the U.S. Federal Reserve in Washington, D.C., on Jan. 6, 2014.

Photograph by Andrew Harrer/Bloomberg

Ronald "Ron" Wyden, a Democrat from Oregon, center, arrives to the U.S. Capitol to vote on the nomination of Janet Yellen as chairman of the U.S. Federal Reserve in Washington, D.C., on Jan. 6, 2014.

Wyden Seeks Extension of Lapsed Tax Breaks

Ron Wyden, the new chairman of the Senate Finance Committee, is eyeing a committee vote this spring to extend lapsed tax breaks, says Lindsey Held, a committee spokeswoman. The Oregon Democrat has made the lapsed breaks, such as the research...

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Jenny Beth Martin, right, of the Tea Party Patriots poses for pictures at rally in front of the U.S. Capitol on June 19, 2013.

Photograph by Mark Wilson/Getty Images

Jenny Beth Martin, right, of the Tea Party Patriots poses for pictures at rally in front of the U.S. Capitol on June 19, 2013.

IRS to Tea Party: You’re In

The Internal Revenue Service has granted tax-exempt status to one of the largest Tea Party organizations in the U.S. — a designation that came after a three-year delay and on the eve of a congressional hearing about the agency’s proposed...

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Representative David "Dave" Camp, a Republican from Michigan and chairman of the House Ways and Means Committee, during a news conference on a proposed restructuring the U.S. tax code in Washington, D.C., on Feb. 26, 2014.

Photograph by Andrew Harrer/Bloomberg

Representative David "Dave" Camp, a Republican from Michigan and chairman of the House Ways and Means Committee, during a news conference on a proposed restructuring the U.S. tax code in Washington, D.C., on Feb. 26, 2014.

Bloomberg by the Numbers: 25%

Corporations would see their top tax rate reduced to 25 percent from 35 percent under a tax-code overhaul by the top Republican tax-writer. “The 979-page plan from Representative Dave Camp would mark the most significant changes to the U.S. tax...

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The Bank of America Corp. branch in Charlotte, North Carolina.

Photograph by Davis Turner/Bloomberg

The Bank of America Corp. branch in Charlotte, North Carolina.

Bloomberg by the Numbers: $86.4 Billion

That’s how much could be raised over 10 years by a tax on banks and insurance companies that House Ways and Means Chairman Dave Camp plans to propose today as part of a federal tax code overhaul. The biggest U.S....

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President Barack Obama walks with Governor Jerry Brown, left, and Joe and Maria Del Bosque, right of Empresas Del Bosque farm, on Feb. 14, 2014 in Los Banos, California.

Photograph by Wally Skalij- Pool/Getty Images

President Barack Obama walks with Governor Jerry Brown, left, and Joe and Maria Del Bosque, right of Empresas Del Bosque farm, on Feb. 14, 2014 in Los Banos, California.

Obama Finds Republican Critics Haven’t Softened on Stimulus

President Barack Obama marked the five-year anniversary of the roughly $800 billion stimulus as he wound down a three-day California golf weekend and rekindled a long-running debate. The administration released a report that says the American Recovery and Reinvestment Act Obama...

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A Tea Party Internal Revenue Service demonstration on May 21, 2013 in West Palm Beach, Florida.

Photograph by Joe Raedle/Getty Images

A Tea Party Internal Revenue Service demonstration on May 21, 2013 in West Palm Beach, Florida.

Republicans Press IRS on ‘Free Speech’

Updated at 3:40 pm EST On both sides of the Capitol, Republicans are pushing legislation that would — in the words of the party’s Senate leader — “prevent the Internal Revenue Service from enacting regulations that would permit the suppression...

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John Koskinen waits to testify before his confirmation hearing at the Senate Finance Committee in Dirksen Building on his nomination to be commissioner of Internal Revenue Service.

Photograph by Tom Williams/CQ Roll Call

John Koskinen waits to testify before his confirmation hearing at the Senate Finance Committee in Dirksen Building on his nomination to be commissioner of Internal Revenue Service.

IRS Boneheaded or Political? — House Welcomes Commissioner

Boneheaded actions or political targeting? That’s the question that has loomed over the Internal Revenue Service for nine months — and it consumed Commissioner John Koskinen’s first appearance before the House Ways and Means Committee today. Republicans, including Reps. Dave...

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