Obama Seeks $28.4 Billion Energy Department Budget that Increases Clean Energy, Cuts Fossil Fuels

President Obama submitted Feb. 1 his fiscal year 2011 budget request to Congress recommending a 6.8 percent increase for the Department of Energy to $28.4 billion…

Obama Budget Proposal Requests Less Money for EPA but More Funding for Climate Programs

The Environmental Protection Agency would see its funding cut in fiscal year 2011 from the record amount appropriated in the previous year, under the budget request sent by…

Obama Urges Passage of Emissions Caps, Seeks Increased Climate Research Funding

President Obama’s fiscal 2011 budget plan signaled that his administration remains committed to legislation that would cap U.S. greenhouse gas emissions…

Banks, Housing Trade Groups Want Inclusion of Accounting Rules by Systemic Risk Panel

National banking, housing, and insurance industry groups are urging leaders of the Senate Banking Committee to include accounting standards in…

As Fed Nears Finish Line for Purchases of Mortgage-Backed Securities, Some Advocate Another Extension

Federal Reserve policymakers have again reiterated plans to stop buying mortgage-backed securities (MBS) by the end of March, as they have said they would do for…

Transfer Pricing Cases Converge as Tax Court Orders VERITAS Inc. to File Post-Xilinx Report

After finding for the taxpayer in VERITAS Software Corp., U.S. Tax Court Judge Maurice Foley Jan. 28 ordered the company and the Internal Revenue Service to…

Obama Requests $12.6 Billion for IRS to Implement Strategic Programs in 2011

The Obama administration Feb. 1 released its fiscal year 2011 budget requests, asking for more than $12.6 billion for the Internal Revenue Service to…

Fiscal Commission, Line-Item Veto Top White House Budget Reform Proposals

The White House formally proposed Feb. 1 in its fiscal 2011 budget the creation of a fiscal commission to find ways to bring down the federal budget…

Oil, Coal Industries Gearing up to Fight Obama Plan to Eliminate Tax Preferences

Fossil fuel industries said they will work to defeat President Obama’s latest attempt to eliminate almost $40 billion in tax preferences as part…

International Provisions in FY 2011 Budget Would Limit Deferral, Stop Abusive Transfers of Intangibles

The fiscal year 2011 budget unveiled Feb. 1 by the Obama administration contained a broad-ranging package of international tax provisions that…

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