Senate Passes $16 Billion in Tax Cuts in Bid to Encourage New Hiring by Employers

The Senate voted 70-28 on Feb. 24 to pass its first installment of economic stimulus of the year, including $16 billion in tax cuts aimed at encouraging businesses to hire new workers…

Appeals Court Revives Investment Advisers Act Suit over Mutual Funds’ Sales Practices

The district court erred in dismissing class securities fraud claims that certain Citigroup affiliates made misleading disclosures about…

Renewable Electricity Standard Promoting Nuclear, Coal Power Advances Considered for Climate Bill

Sen. Lindsey Graham (R-S.C.) said Feb. 23 he is pursuing a national renewable electricity standard that would count energy generated by new nuclear reactors…

Senator Kerry Nears Release of Compromise Climate Change, Energy Bill; No White House Bill Planned

Three senators led by Sen. John Kerry (D-Mass.) “are on a short track” to unveil compromise climate change and energy legislation that would increase…

Senators Wyden, Gregg Introduce Tax Reform Bill That Would Eliminate Alternative Minimum Tax, Enact Reduced Flat Corporate Tax Rate

Sens. Ron Wyden (D-Ore.) and Judd Gregg (R-N.H.) Feb. 23 introduced comprehensive tax reform legislation (S. 3018) with provisions consolidating tax…

House Democrats Welcome Obama’s Latest Health Care Reform Plan; Senate Still Sparring on Reconciliation Use

House Democrats give President Obama’s most recent health reform proposal a warm reception, though members say they are reserving final judgment on it…

Senate Majority Leader Reid’s Jobs Bill Gets Lackluster Reviews; Some Prefer Extending 2001, 2003 Tax Laws

Longer-term policies that give small businesses additional certainty about the tax climate in coming years may be better for the economy than…

Administration Lauds New Credit Card Rules under CARD Act

President Obama called new credit card rules that took effect Feb. 22 a “turning point for American consumers.” The new rules marked the effective date of key…

Fed Threatens Broad Ban on Overdraft Fees Unless Fresh Changes in Place by July 1

The Federal Reserve Board Feb. 19 proposed several last-minute changes to rules that limit overdraft charges on transactions at automated teller machine (ATM) and…

New Draft Legislation Expected from Senator Dodd May Put Bank Reform in Striking Distance

Draft legislation that Senate Banking Committee Chairman Christopher Dodd (D-Conn.) is expected to release as soon as the week of Feb. 22 could put the much-delayed goal of…

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