The Latest Breaking News from Michael D Crapo

The Senate is "on track" to start debating a roughly $300 billion deficit-reducing budget bill after Democrats reached agreement Thursday.

Democrats may need to make some changes to the tax portion of their budget reconciliation package to earn the support of Arizona Sen. Kyrsten Sinema, including possible removal of a tax increase on investment fund managers and softening a new minimum tax on the biggest corporations.

Democratic leaders in the Senate need to woo Arizona Sen. Kyrsten Sinema, but some don't want to give away too much

Senate Democrats are confident about passing their health care, climate and tax package, as Republicans plot amendments they’ll offer to it.

WASHINGTON — Incentives for clean energy and a tax break for companies’ research and development appear to be off the table for legislation moving this summer, raising the stakes for a potential year-end tax bill after the dust settles on the midterm elections.

Incentives for clean energy and research and development could move as part of a year-end tax bill when the dust settles after the midterms

WASHINGTON — Senators are considering restoring a more generous tax break for companies’ research and development spending as part of a slimmed-down economic competitiveness bill focused on boosting domestic semiconductor manufacturing.

Senate Majority Leader Charles E. Schumer pledged to move ahead with a procedural vote Tuesday afternoon on the semiconductor bill.

WASHINGTON — Democrats’ demands for changes to the tax code are threatening to complicate efforts to pass a slimmed-down budget reconciliation package by the August recess, as warring positions on a deduction for state and local taxes reemerge as a potential roadblock.

Democrats’ demands for changes to the tax code threaten to complicate efforts to pass a budget reconciliation package by the August recess.

McConnell floats having House pass Senate version or moving $52 billion for semiconductor subsidies separately.