News

The House voted 378-46 to bring back more than 50 expired tax breaks for companies and individuals for 2014. Most supporters say they aren’t happy with the measure but believe that it is better than doing nothing.

Senate Majority Leader Harry Reid, D-Nev., caught observers off guard by supporting a compromise spending plan offered by House Majority Leader John Boehner, R-Ohio, intended to avert a U.S. government shutdown. The proposal would fund the government through September.

Manufacturing growth was nearly unchanged in the U.S. last month, while Germany, China, France and Italy experienced unexpected contractions. The Institute for Supply Management’s index was 58.7 in November, essentially unchanged from October, and remains at one of the highest […]

Up to 1.2 million additional consumers may qualify for mortgage loans under standards that go into effect today. Earlier this year, Fannie Mae and Freddie Mac softened their repurchase standards, triggering a domino effect in the industry. Borrowers should immediately […]

The Commerce Department revised upward its estimate of U.S. economic growth in the third quarter to an annualized 3.9% from 3.5%. The upgrade is based on a surprise acceleration in consumer spending and a moderate increase in investment by businesses.

A possible congressional deal to extend tax breaks for business and college expenses is “fiscally irresponsible,” according to the Obama administration. Making expiring business breaks permanent while failing to review tax credits for working families is the “wrong approach,” Treasury […]

More than half of companies are familiar with the revenue recognition standard issued by the Financial Accounting Standards Board and the International Accounting Standards Board in May, according to a study by PwC and the Financial Executives Research Foundation. But […]

Newly released Federal Reserve minutes show increasing concern about deflation. “Many participants observed the committee should remain attentive to evidence of a possible downward shift in longer-term inflation expectations,” according to the minutes. “Some of them noted that if such […]

More than 500 industry groups have urged Congress to renew dozens of expired tax breaks, including the R&D credit, breaks for charitable giving, incentives for business expenses and deductions for local and state sales taxes. Failing to bring back these […]