Topic: Jason Smith

Group of Seven nations agreed to exempt U.S. companies from a 15% minimum corporate tax rate, the countries said in a joint statement.

The House Ways and Means Committee approved the Republican tax package Wednesday, which followed an all-night hearing during which GOP members rejected attempts by Democrats to alter the plan.

The U.S. House on Thursday passed a bill that Democrats and other critics warn will allow President-elect Donald Trump to crush nonprofit organizations that are critical of him and his policies.

Congress is voting on a bill Tuesday that will empower the executive branch to remove the tax-exempt status from any nonprofit it deems to be supporting terrorists.

A bid by Democrats to pass an expansion of the popular Child Tax Credit already agreed to in the House was blocked by Senate Republicans onThursday amid a feud over remarks by Sen. J.D. Vance about "childless cat ladies.

A potential reduction in Supplemental Nutrition Assistance Program benefits for needy families is among key issues keeping Congress from renewing a five-year agriculture policy law known as the farm bill.

IRS Commissioner Danny Werfel testified Thursday afternoon before the Ways and Means Committee as the GOP controlled House seeks to take money from the Inflation reduction Act away from the IRS.

Lawmakers on the House Committee for Ways and Means called on manufacturers Tuesday to improve transparency as the United States experiences a nationwide drug shortage.

The U.S. House voted Wednesday night to pass a $78 billion bipartisan tax bill to temporarily expand the child tax credit and reduce small business regulations in a trio of tax breaks.

House and Senate committee members announced a rare bipartisan deal that would boost the child tax credit and reduce small business regulations while ending a fraud-plagued COVID-19 program.