Money and Policy

President Biden on Wednesday unveiled details of a sweeping $2.25 trillion infrastructure that would be funded by dramatically raising the taxes paid by U.S. corporations, an increase that could have a detrimental side effect on the U.S. economy, according to one analysis. 

Progressive Democrats are leaning on President Biden to dramatically increase the size of his next big-ticket economic spending bill, unveiling on Monday a new bill that would invest $10 trillion in renewable energy, green infrastructure and climate justice initiatives over the next decade. 

The IRS said Tuesday that it will begin distributing stimulus checks to millions of Social Security recipients and other lower-income Americans this weekend.

Americans have until May 17 to contribute to their individual retirement accounts and health savings accounts, the IRS said Monday. 

A growing number of Democrats are calling on President Biden to send recurring stimulus checks for low-income Americans as part of his sweeping infrastructure package, arguing the cash payments are necessary until the U.S. economy fully recovers from the pandemic.

Tens of millions of low-income Americans are still waiting for their stimulus check to arrive weeks after President Biden signed into law the $1.9 trillion coronavirus relief package. 

The Senate voted this week to extend the Paycheck Protection Program for two months amid concerns that the March 31 expiration of the small-business rescue fund could leave struggling employers without a key economic lifeline.

The IRS already delayed the main April 15 tax-filing deadline by one month, but some accounting groups say that Americans still reeling from the coronavirus pandemic need more time to submit their returns.

About 30 million Social Security recipients who are still waiting to receive their third stimulus check could see the money arrive soon. 

The IRS said Friday the purchase of personal protective equipment used to combat the spread of COVID-19, including face masks and hand sanitizer, are tax-deductible medical expenses.  

Sen. Joe Manchin, a key centrist Democrat, said this week that he supports a multitrillion-dollar infrastructure package that would be paid for in part by raising taxes. 

The IRS sent out a second batch of stimulus checks this week, delivering payments to another 37 million Americans as part of President Biden's $1.9 trillion American Rescue Plan.  

Sen. Elizabeth Warren's plan to tax the net worth of the wealthiest Americans could reduce U.S. economic growth by 1.2% over the next 30 years, according to a new analysis published this week. 

EXCLUSIVE: West Virginia Gov. Jim Justice is making the case for his proposal to repeal the personal income tax, telling FOX Business it is “an opportunity beyond belief.”

The IRS has already delivered a third round of stimulus checks to 90 million Americans — but not everyone has gotten the full payment for which they're eligible.