Congress wants to end a tax break meant to encourage businesses to keep workers on the payroll during the COVID-19 pandemic. What was expected to cost the federal government $55 billion has instead cost it nearly five times that amount as of July.
The measure extends current spending levels and buys time for the two chambers to work out their differences over full-year spending bills for the fiscal year that began in October.
The proposed change by the Consumer Financial Protection Bureau would potentially eliminate billions of dollars in fee revenue for the nation’s biggest banks.
The Justice Department said if JetBlue were allowed to buy Spirit, it would especially hurt travelers who depend on Spirit’s low fares.
The emerging deal would make the existing child tax credit more generous, a major Democratic priority. In exchange, it would also continue several business tax breaks favored by corporate America, a Republican priority.
Funding for 20 percent of the government—including the Transportation Department, some veterans’ assistance and food and drug safety programs—is set to expire Jan. 20, just after midnight.
Borrowers will be eligible for cancellation if they are enrolled in the new SAVE plan, if they originally borrowed $12,000 or less to attend college, and if they have made at least 10 years of payments.
The Federal Aviation Administration said Thursday that it is launching an investigation into whether aerospace giant Boeing followed rules to ensure the aircraft that it built were safe for operation.
Congress began leaving Washington on Thursday for the long holiday weekend without a plan for how to prevent a government shutdown next week.
A proposal from the Michiana Area Council of Governments for an EV charging project based in Indiana is set to receive $4.2 million.
The bill would reinstate a tax deduction for personal casualty losses that was removed by congressional Republicans in 2017. The deduction covered sudden or unexpected events such as floods, fires, earthquakes—and thefts.
Qualifying for the credits depends on requirements related to their battery makeup and minerals that get tougher each year.
The Labor Department rule, which the Biden administration proposed 15 months ago, replaces a scrapped Trump-era standard that lowered the bar for classifying employees as contractors.
Following weeks of negotiations, Senate Majority Leader Chuck Schumer, D-N.Y., and House Speaker Mike Johnson, R-La., announced Sunday that they had agreed to a $1.66 trillion funding deal that would reduce overall spending by the federal government.
The FAA’s emergency airworthiness directive grounding the planes affects 171 aircraft. Two airlines in the United States—Alaska Airlines and United Airlines—have Boeing Max 9 aircraft in their fleets.
Buschon is the longest-serving member of Indiana’s Republican House delegation.
The agreement largely hews to spending caps for defense and domestic programs that Congress set as part of a bill to suspend the debt limit until 2025.
The airline again grounded all of its Boeing 737 Max 9 jetliners on Sunday after federal officials indicated further maintenance might be required to assure that another inflight blowout like the one that occurred Friday doesn’t happen again.
The new milestone comes as lawmakers brace for fiscal showdowns over spending levels in the new year.
Narrower criteria reduced the number of qualifying models to 13 from about two dozen, according to federal data. The new rules exclude from the tax credit vehicles that use battery components made by Chinese manufacturers.
