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The Latest Breaking News from Michael D Crapo

Debt limit clouds outlook as Biden budget set to hit Thursday

WASHINGTON — President Joe Biden’s delayed budget for the upcoming fiscal year due Thursday will kick off what’s expected to be a lengthy battle over spending levels and priorities, with the debt ceiling deadline looming this summer casting a pall over the entire process.

Tribune News Service

Debt limit clouds outlook as Biden budget set to hit Thursday - Roll Call

President Joe Biden’s delayed budget due Thursday will kick off what’s expected to be a lengthy battle over spending levels and priorities.

Roll Call

Biden mixes doable, aspirational health messages in speech

WASHINGTON — President Joe Biden reiterated a call to “finish the job” on insulin prices, address the mental health crisis and “end cancer as we know it” in his address to Congress on Tuesday — initiatives that could have bipartisan support from lawmakers.

Tribune News Service

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Biden mixes doable, aspirational health messages in speech - Roll Call

President Joe Biden’s speech was heavy on health policy asks, but it’s unclear if razor-thin majorities will allow them to come to fruition.

Roll Call

Democrats line up behind budget bill while GOP pledges ‘hell’

WASHINGTON — The Senate is “on track” to start debating a roughly $300 billion deficit-reducing budget package Saturday after Democrats reached agreement late Thursday on changes to the bill needed to secure 50 votes, Senate Majority Leader Charles E. Schumer said.

Tribune News Service

Democrats line up behind budget bill while GOP pledges 'hell' - Roll Call

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

Roll Call

Changes mulled to sweeping budget package as debate nears

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.

Tribune News Service

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Changes mulled to sweeping budget package as debate nears

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

Roll Call

Democrats confident about budget vote as GOP plans amendments

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

Roll Call

Leftovers pile up for year-end tax bill menu

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.

Tribune News Service

Leftovers pile up for year-end tax bill menu - Roll Call

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

Roll Call

R&D tax deduction back in play on ‘chips-plus’ bill in Senate

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.

Tribune News Service

Test vote on 'chips-plus' bill teed up in Senate - Roll Call

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

Roll Call

Reconciliation talks complicated by ‘SALT’ tax hurdle

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.

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Roll Call

Reconciliation talks complicated by 'SALT' tax hurdle - Roll Call

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

Roll Call

Senate GOP pitches options for stalled competition bill - Roll Call

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

Roll Call

Biden outlines economic framework for US, Asian nations - Roll Call

President Biden, on a trip to Tokyo, lays out an economic framework for the US and 12 other countries to counter China's influence.

Roll Call

Republicans split on adding semiconductor tax breaks to competition bill

An effort to add bipartisan tax incentives for U.S. semiconductor manufacturing to a House bill is running into GOP divisions.

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Tribune News Service

Google touts stalled reconciliation package in energy agenda

WASHINGTON — Google and other companies will fail to meet ambitious climate targets unless legislation and regulations are quickly approved and imposed that ramp up demand for cleaner forms of energy, the tech giant said in a new policy statement.

Roll Call

Google touts stalled reconciliation package in energy agenda - Roll Call

Google said it won't meet its climate goals unless the Senate passes the $2.2 trillion bill blocked by Democratic Sen Joe Manchin III.

Tribune News Service

Windfall profits tax, consumer rebate options under discussion

WASHINGTON — Senate Finance Committee Democrats are discussing ways to tax large oil and gas companies’ excess profits that could be tied to the recent spike in global crude oil prices and use the revenue to provide financial support to consumers impacted by higher costs at the pump.

Roll Call

Windfall profits tax, consumer rebate options under discussion - Roll Call

Driven by sharply higher gas prices, Democrats are discussing ways to tax large oil and gas companies' excess profits and return the money to consumers.

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