5:49am: Lawmakers may wait until after the election before dealing with $7 trillion worth of tax hikes and spending cuts. But such prolonged uncertainty may prompt markets and businesses to act sooner. More
Progressivity in the U.S. tax code plus lawmakers' addiction to tax breaks are the key reasons why.
Years of avoiding tough decisions has put Congress on the edge of a fiscal cliff: What to do about the sudden onset of mega tax increases and spending cuts?
Many expect lawmakers to wait until the last minute to address the sudden onset of tax increases and spending cuts at the end of the year.
The latest estimates from the programs' trustees will offer an updated look at when the country's largest entitlement programs will face their biggest funding shortfalls.
The president's signature millionaire tax proposal would try to ensure that the very wealthy pay at least 30% of their income in federal taxes.
Bruce Bartlett, a seasoned tax policy expert, says politicians who don't acknowledge the many tradeoffs involved in tax reform shouldn't be taken seriously.
As the court weighs the rule requiring everyone to have health insurance, a central question emerges: What happens to insurance costs if the mandate is struck down?
A new analysis finds one-third of households would see a higher tax bill under the president's budget, but the biggest increase by far would hit the top 1%.
Congress already had a lot to fight about at the end of this year. Now fiscal experts expect the 2013 budget will be yet another major issue added to the list.
Ryan plan would kill $55 billion in automatic defense cuts set for 2013
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