House of Representatives

Obama Wants to Slash Corporate Tax Rate to 28%

Under a corporate-tax overhaul to be detailed Wednesday, U.S. companies would be forced to cede a number of loopholes and subsidies, while those with overseas operations could face a minimum tax on their foreign earnings.

Obama to Propose 28% Corporate Tax Rate

The Obama administration on Wednesday will propose cutting the top tax rate for corporations to 28 percent, and pay for it by eliminating dozens of tax loopholes companies now use to lower their rates, a senior administration official said.

Congress Extends Payroll-Tax Cut, Sends Bill to Obama

Congress passed legislation on Friday that extends a tax cut for 160 million workers through December. The new law continues long-term jobless benefits, handing President Barack Obama a major victory in a year in which his re-election is at stake.

Four Problems with the Payroll Tax Holiday Extension

The Senate has followed the House of Representatives in passing a bill to extend the payroll tax holiday first instituted in 2011. But there were some issues that stood in the way, and four major groups have their own objections to the measure.

Keystone Pipeline Bill Passes House

The House of Representatives passed an energy bill Thursday that would wrest control of a permit for the controversial Keystone XL oil pipeline away from President Barack Obama, who has put the project on hold.

U.S. Postal Service Releases Plan to Reverse Losses

The U.S. Postal Service warned it could become a long-term burden on taxpayers absent legislative change, as the cash-strapped agency put pressure on Congress to allow it to end Saturday delivery and to tap into a retirement-account surplus.

Payroll Tax Deal Heads for Congressional Passage

A deal to renew a payroll tax cut for 160 million U.S. workers through 2012 headed on Thursday toward congressional approval as Democratic and Republican leaders rallied support for the bipartisan agreement.

Congress Reaches Payroll Tax Cut Extension Deal

A payroll tax cut for 160 million Americans, set to expire at the end of this month, would be extended through December under a bipartisan deal announced early on Thursday by U.S. congressional leaders.

Payroll Tax 'Deal Is Done' in Major Victory for Obama

Negotiators Wednesday evening reached a sweeping tax cut deal that provides a victory to President Barack Obama and his fellow Democrats in Congress and frees Republicans of an issue that threatened to stalk them to the November elections.

Congress Near Deal on Payroll Tax, Unemployment Aid

U.S. lawmakers were close to a deal Tuesday on legislation that would boost the economy in the short term by extending a payroll tax cut for 160 million workers through this year and continue long-term jobless benefits, congressional aides said.

Obama 'Hopeful' on Payroll Tax Cut Extension

President Barack Obama said on Tuesday he had seen hopeful signs that Congress would pass a payroll tax cut extension for the full year, as he kept pressure on lawmakers to take action he said was needed to keep the U.S. recovery on track.

President Obama to Pitch Cutting Top Corporate Tax Rate of 35%

U.S. President Barack Obama will call for cutting the top 35 percent corporate tax rate as early as this month, according to two sources close to the administration. The president is likely to propose a rate closer to an average of those seen in peer nations, the sources said.

Obama shift seeks to defuse birth-control fight

President Barack Obama, in an abrupt policy shift aimed at quelling an election-year firestorm, announced on Friday that religious employers would not be required to offer free birth control to workers and that the onus would instead be put on insurers.