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☆ Hunter Biden to plead guilty to federal tax crimes on Wednesday
▼ + stars: | 2023-07-26 | by ( Marshall Cohen | ) edition.cnn.com time to read: +5 min

As part of the plea agreement, Justice Department prosecutors are expected to recommend a sentence of probation for the president’s son. While the investigation was ongoing, Hunter Biden fully paid his federal tax bill, along with interest and penalties, his lawyers have previously said. Federal investigators also looked into Hunter Biden’s unpaid taxes and lavish spending, which came amid a struggle with addiction. In a late twist, the judge threatened to sanction Hunter Biden’s lawyers over the matter. House Republicans have zeroed in on Hunter Biden’s finances as part of their broader oversight probes into the Biden family.

Persons: Joe Biden’s, Hunter Biden, Maryellen Noreika –, Donald Trump, Hunter, Joe Biden, David Weiss, Hunter Biden’s, Jason Smith, Trump, Biden, Weiss, General Merrick Garland, –, ’, “, Garland, They’ve, ” Organizations: Delaware CNN, Justice Department, Senate, CNN, White House, -, Trump, Republican, GOP, House Republicans Locations: Wilmington, Delaware, Wilmington , Delaware, politicization

On the eve of Hunter Biden’s court appearance to enter into a plea deal for misdemeanor tax crimes that would allow him to avoid prison time, House Republicans and conservative groups sought to intervene in the case, urging a judge to throw out the agreement he reached with prosecutors. The highly unusual legal maneuvering — which experts said was unlikely to succeed — illustrated the lengths that House Republicans and their allied groups have been willing to go to as they have tried to use Mr. Biden’s legal and personal troubles to inflict political damage on his father, President Biden. Representative Jason Smith of Missouri, the chairman of the House Ways and Means Committee, filed a brief in Federal District Court in Wilmington, Del., where Hunter Biden’s plea deal is to be considered by a judge on Wednesday. The committee has heard testimony from two Internal Revenue Service investigators who claim to be whistle-blowers and have told the panel that the younger Mr. Biden received preferential treatment from the Justice Department. Mr. Smith’s brief asked the judge to consider the testimony in deciding whether to approve the agreement.

Persons: Hunter, —, Biden, Jason Smith of, Smith’s Organizations: House Republicans, Republicans, Court, Revenue Service, Justice Department, Mr Locations: Jason Smith of Missouri, Wilmington, Del

☆ U.S. House committees investigate Ford Chinese battery partnership
▼ + stars: | 2023-07-21 | by ( David Shepardson | ) www.reuters.com time to read: +3 min

REUTERS/Brendan McDermid/File PhotoWASHINGTON, July 21 (Reuters) - Two U.S. House of Representatives committees said Friday they are investigating Ford Motor Co's (F.N) partnership with Chinese battery company CATL (300750.SZ). Ford announced in February it is spending $3.5 billion to build a battery plant in Michigan using technology from CATL, the world's largest battery maker. The committees said several hundred of the 2,500 Ford plant jobs will be filled by CATL employees from China who will be in charge of setting up and maintaining equipment. Ford still is awaiting guidance from the U.S. Treasury to ensure the partnership does not run afoul of the requirement. Republican Senator Marcio Rubio has urged the Biden administration to investigate the deal and introduced legislation that seeks to bar consumer tax credits for EVs produced using CATL technology.

Persons: Brendan McDermid, Jason Smith, Mike Gallagher, Ford, CATL, Marcio Rubio, Biden, EVs, David Shepardson, Jonathan Oatis, David Holmes Organizations: North American, REUTERS, WASHINGTON, House, Ford Motor, Ford, Chinese Communist Party, U.S . Treasury, Republican, Thomson Locations: Detroit , Michigan, U.S, Michigan, CATL, China, United States, Xinjiang, Beijing

☆ US House Republicans seek testimony from Hunter Biden investigators
▼ + stars: | 2023-06-29 | by ( David Morgan | ) www.reuters.com time to read: +2 min

WASHINGTON, June 29 (Reuters) - U.S. House Republicans sought testimony on Thursday from more than a dozen officials from the Justice Department, FBI and other government agencies involved in the federal tax investigation of President Joe Biden's son, Hunter. House Republicans have long made investigations of the president, his family and his administration a top priority. Republican House Speaker Kevin McCarthy warned earlier this week that Garland could face impeachment over the whistleblower allegations. Thursday's testimony requests came from House Judiciary Committee Chairman Jim Jordan, House Oversight Committee Chairman James Comer and House Ways and Means Committee Chairman Jason Smith. "The committees seek to examine whistleblower claims that the ... investigation of Hunter Biden was purposely slow-walked and subjected to improper and politically motivated interference," they said in a letter to Garland.

Persons: Joe Biden's, Hunter, General Merrick Garland, Donald Trump, Trump, Kevin McCarthy, Garland, Jim Jordan, James Comer, Jason Smith, Hunter Biden, David Morgan, Sarah N, Lynch, Scott Malone, Alexandra Hudson Organizations: . House Republicans, Justice Department, FBI, Representatives, Internal Revenue Service, DOJ, Republican, Republicans, Justice, Alexandra Hudson Our, Thomson

It is not clear what he meant, but the declaration will have a near-term chilling effect on greater disclosure, effectively preventing Mr. Weiss from speaking publicly about the investigation until it is officially closed. House Republicans sought to portray the testimony by the I.R.S. officials as evidence that Hunter Biden had gotten a sweetheart deal from the Justice Department and that the department had been subject to political influence. In the testimony released by the committee on Thursday, the lead I.R.S. agent investigating whether Hunter Biden committed tax crimes told Congress his team uncovered evidence that Mr. Biden had invoked his father, who was then out of office, while pressing a potential Chinese business partner in 2017 to move ahead with a proposed energy deal, House Republicans said.

Persons: Weiss, Biden, Hunter Biden, Jason Smith, ” “, Mr, Zhang, ” Organizations: Republicans, Justice Department, Republican Locations: Missouri

☆ US House Republicans unveil broad package of tax cuts
▼ + stars: | 2023-06-09 | by ( Richard Cowan | ) www.reuters.com time to read: +3 min

Three related bills were introduced on Friday with the goal of moving the legislation through the House Ways and Means Committee next week. Democrats already were focusing on whether the tax legislation could add to the ballooning federal debt. Representative Richard Neal, the panel's senior Democrat, said Republicans were "laying the groundwork for even bigger cuts in 2025" when provisions of the 2017 tax law expire. Republicans, who control the House, introduced the proposals days after Biden, a Democrat, signed into law legislation Republicans sought to begin addressing the rapidly-growing debt with about $1.3 trillion in spending cuts. Other provisions include an expansion of tax benefits for small start-up enterprises to "S Corporations," while eliminating some "red tape" that small businesses experience related to contract workers.

Persons: Joe Biden's, Jason Smith, Richard Neal, Neal, Biden, Richard Cowan, Paul Simao, Diane Craft Organizations: U.S . House, Taxation, Big Oil, Republicans, Child Tax, Democratic, Thomson Locations: U.S, American

☆ Analysis: US debt-ceiling deal dooms Biden's revolutionary tax plans
▼ + stars: | 2023-06-01 | by ( David Lawder | ) www.reuters.com time to read: +6 min

Barring an unlikely Democratic sweep of the White House and both chambers of Congress in 2024, major changes to the U.S. tax code are now seen as largely off the table until the end of 2025, when the 2017 individual tax cuts expire. TAX CHANGES ARE TOUGHBiden's unrealized campaign tax pledges illustrate the political difficulty of changing the U.S. tax code, barring a commanding majority in Congress. "House Republicans have successfully blocked every penny of President Biden’s tax hikes on families, farmers, and small businesses in the debt ceiling deal and protected the 2017 Tax Cuts and Jobs Act from repeal," said U.S. House Ways and Means Chairman Jason Smith. The Missouri Republican added that Americans want Congress to build on the Trump tax cuts "with more tax relief." Republicans will argue for making the 2017 individual tax cuts permanent, said John Gimigliano, KPMG's head of federal tax legislative and regulatory services.

Persons: Joe Biden's, Biden, That's, William McBride, Joe Manchin, Kyrsten Sinema, Jason Smith, Michael Kikukawa, Kikukawa, John Gimigliano, Gimigliano, Steve Rosenthal, Rosenthal, David Lawder, Heather Timmons, Matthew Lewis Organizations: Saturday, Revenue Service, Trump, White, Tax Foundation, Democratic, Republican, Republicans, IRS, House, The, The Missouri Republican, Economic Co, Congressional, Brookings Tax, Center, Thomson Locations: Washington, The Missouri

☆ US IRS to launch free tax e-file pilot program in 2024
▼ + stars: | 2023-05-16 | by ( David Lawder | ) www.reuters.com time to read: +3 min

WASHINGTON, May 16 (Reuters) - The Internal Revenue Service on Tuesday said it would launch a free, government-provided direct tax filing option next year, which could lead to the full-scale launch of an IRS filing system that would compete with private tax preparers. The IRS said in an exploratory report to Congress that 72% of American taxpayers surveyed said they were "very interested in" or "somewhat interested in" using a government tool to electronically file their tax returns. The size, scope and complexity of the pilot program, to be available in the 2024 tax filing season, has yet to be determined, IRS Commissioner Danny Werfel told reporters, adding that Treasury Secretary Janet Yellen directed the IRS to launch the pilot after reviewing the report. "Americans will be powerless when the IRS completely controls the tax filing process from start to finish," Smith said in a statement. Werfel noted that all filing options would continue, including free e-file options from private firms and non-profit tax advocacy services, paid filing by tax preparers, and free paper filing to the IRS.

☆ George Santos was accused of unemployment fraud. The House may vote this week on an unemployment fraud bill that he co-sponsored.
▼ + stars: | 2023-05-10 | by ( Lloyd Lee | ) www.businessinsider.com time to read: +3 min

Rep. George Santos is being accused of stealing COVID-19 unemployment aid, among other charges. In March, he co-sponsored a bill that incentivizes states to recoup money lost through unemployment fraud. The indictment contains 13 counts of wire fraud, money laundering, and theft of public funds. Two months before his indictment, Santos co-sponsored a bill, along with 34 Republican lawmakers, that incentivizes states to recoup money lost through COVID-19 unemployment fraud. Spokespersons for Santos and Rep. Jason Smith, the lead sponsor of the bill, did not respond to a request for comment.

☆ Ways & Means Chair Rep. Smith on House GOP debt limit bill: I'm confident we have the votes
▼ + stars: | 2023-04-26 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWays & Means Chair Rep. Smith on House GOP debt limit bill: I'm confident we have the votesHouse Ways & Means Committee Chairman Rep. Jason Smith (R-Mo.) joins 'Squawk Box' to discuss the latest in debt limit showdown, and whether there is enough support for the House GOP proposal.

☆ Louisville shooter legally purchased rifle -police
▼ + stars: | 2023-04-11 | by ( ) www.reuters.com time to read: +2 min

[1/4] Community members attend a vigil at Crescent Hill Presbyterian Church following a mass shooting at Old National Bank in downtown Louisville, Kentucky, U.S. April, 10, 2023. REUTERS/Jeffrey DeanApril 11 (Reuters) - The 23-year-old bank employee who shot dead five colleagues and wounded nine other people at his workplace in Louisville on Monday legally purchased the rifle, Louisville Police Chief Jacquelyn Gwinn-Villaroel told reporters at a news conference on Tuesday. Louisville police responded within minutes to reports of an attacker on Monday morning at the bank office near Slugger Field baseball stadium. Sturgeon grew up in southern Indiana, just north of Louisville, according to his mother's Facebook page. Those statistics use the definition of four or more shot or killed, not including the shooter - according to the nonprofit Gun Violence Archive.

☆ Yellen defends request for $29 bln increase in IRS enforcement funds
▼ + stars: | 2023-03-10 | by ( David Lawder | ) www.reuters.com time to read: +2 min

WASHINGTON, March 10 (Reuters) - U.S. Treasury Secretary Janet Yellen on Friday defended a Biden administration budget request for an additional $29.1 billion in IRS enforcement funds as Republicans in Congress pressed her to explain how $80 billion funds approved last year would be spent. The budget proposal aimed at boosting tax enforcement and collections comes on top of a fiscal 2024 appropriations request of $14.1 billion, marking an increase of $1.8 billion, or 15% over the 2023 IRS budget. "You already got $80 billion for the IRS. The additional $29.1 billion in long-term enforcement investments would add two more years to the $80 billion program for 2032 and 2033, according to the budget. Yellen also said that the "vast majority" of hiring at the agency from the $80 billion would go towards replacing retiring employees over the next decade.

Principal Deputy IRS Commissioner Daniel Werfel testifies before the House Small Business Committee at a hearing on "The Internal Revenue Service And Small Businesses: Ensuring Fair Treatment" in Washington, July 17, 2013. One of Werfel's priorities at the IRS will be ensuring that the wealthiest Americans pay their full tax bills. President Joe Biden's pick to lead the IRS won the support of nearly every Senate Democrat, plus a handful of Republicans. "Confirming someone as qualified as Mr. Werfel as IRS Commissioner is crucial to making sure Americans take full advantage of all the tax credits we approved last year," Senate Majority Leader Chuck Schumer said Monday on the Senate floor. He later served as acting IRS commissioner in 2013.

With the way cable news talking heads describe debt ceiling negotiations, one might think America is headed for an extinction-level event. Left-wing pundits argue that anything but a "clean raise" in the debt ceiling – extending America's credit card limit with no conditions – will bring about an economic apocalypse. As the chairman of the House Ways and Means Committee with jurisdiction over the debt ceiling, Social Security, and Medicare, no debt ceiling legislation that passes through my committee will include cuts to these vital programs. Debt ceiling negotiations are something Democrats – and even then-Senator Biden – have agreed to multiple times in our nation's history. For Washington Democrats to engage in politics as usual is manifesting the very crisis they claim they want to avoid.

☆ House, Senate to renew fight pitting child tax credit vs. corporate cash
▼ + stars: | 2023-02-15 | by ( Eric Rosenbaum | ) www.cnbc.com time to read: +9 min

The fate of that corporate tax policy, supported by many Democrats, had been linked to the Democratic Party's desire for a deal on the child tax credit . But House and Senate members are getting ready to reintroduce legislation on the R&D tax credit. Indexing the child tax credit to inflation would also be a matter of tax policy that both parties might agree on as a way to enshrine future increases in law. But there's still the divide on the corporate tax priorities and child tax credit, and at a basic level, getting a bipartisan tax bill through the House and Senate and to the White House is always challenging. Many companies were surprised that the R&D tax credit did not get extended in the late year legislative package because it had so much bipartisan support.

☆ House Tax Leader Denounces International Plan to Raise Minimum Corporate Tax
▼ + stars: | 2023-02-10 | by ( Richard Rubin | ) www.wsj.com time to read: 1 min

Rep. Jason Smith said ‘Republicans will not tolerate’ changes that could let other countries collect more taxes from U.S. companies. WASHINGTON—The House’s top tax legislator criticized an international agreement to raise minimum taxes on corporations, saying Republicans in Congress wouldn’t accept the deal reached by the Biden administration and more than 130 countries. Rep. Jason Smith (R., Mo. ), who became chairman of the House Ways and Means Committee last month, said the agreement would help China gain a competitive advantage and hurt the U.S.

☆ Top GOP Tax Legislator Says He’ll Boost Workers, Probe Companies
▼ + stars: | 2023-02-06 | by ( Richard Rubin | ) www.wsj.com time to read: 1 min

Rep. Jason Smith, who represents southeastern Missouri, said his policies will focus on ‘real Americans’ over large corporations. Jason Smith (R., Mo. ), the House’s new top tax writer, is promoting an approach he says would favor working-class Americans over large corporations, a shift in tone from his predecessors that raises questions about companies’ ability to push tax cuts through Congress. In speeches, interviews and a 10-year voting record in Congress, Mr. Smith has been a steady supporter of Republican tax cuts, and he says that basic approach isn’t changing. As chairman of the Ways and Means Committee, he says the needs of farmers, small businesses and working-class Americans should come first when setting policy.

☆ Ways & Means Committee Chair: Delivering for working-class families is our top priority
▼ + stars: | 2023-01-30 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWays & Means Committee Chair: Delivering for working-class families is our top priorityRep. Jason Smith (R-Mo. ), the new Ways & Means Committee chair, joins 'Squawk Box' to discuss the top priorities for the committee, Smith's position on the debt ceiling, and more.

☆ Rep. Jason Smith Picked to Lead House Ways and Means Committee
▼ + stars: | 2023-01-10 | by ( Richard Rubin | Siobhan Hughes | ) www.wsj.com time to read: 1 min

Rep. Jason Smith of Missouri had been the top Republican on the House Budget Committee. WASHINGTON—House Republican leaders chose Rep. Jason Smith (R., Mo.) to run the House Ways and Means Committee, giving him a prime perch to shape the party’s approach to tax, trade and health policy. As chairman, Mr. Smith will lead a committee with broad power over economic policy and healthcare that is poised to receive an influx of new Republican members. He will help guide the party’s oversight work as the Internal Revenue Service starts spending the $80 billion it received last year.

☆ Congress created an actual safety net for Americans during the last crisis. Don't expect that to happen again.
▼ + stars: | 2022-12-24 | by ( Juliana Kaplan | ) www.businessinsider.com time to read: +8 min

Congress enhanced unemployment benefits and gave parents monthly checks during the first two years of the pandemic. For Maggie Lopez, a single mother in Texas, the checks meant some breathing room for her and her newborn. The enhanced unemployment had a ripple effect, according to Evermore: People were able to stay home safely. In the case of enhanced unemployment, some states decided to end their participation in federal programs early, leaving many workers in dire straits. After Congress failed to renew a reduced version of the child tax credit at the end of 2021, child poverty once again ticked up.

The child lived in West Philadelphia, near Market and 61st Streets, according to Philadelphia police Capt. "It’s going to be an uphill battle for us to definitively determine who caused this child's death," Smith told reporters. Nonprofit Vidocq Society is made up of former law enforcement personnel and forensic professionals who share an interest in unsolved crimes. "Now our lad is no longer that 'Boy in the box.' "Joseph Augustus Zarelli will no longer be that 'Boy in the Box,' will no longer be unknown," Fleisher said.

☆ A top GOP lawmaker staunchly opposed to Biden's student-loan forgiveness policies pledges to make 'oversight a priority' if selected to lead the House education committee
▼ + stars: | 2022-12-08 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +4 min

GOP Rep. Virginia Foxx received a waiver to run for chair of the House education committee. She has been highly critical of Biden's student-debt relief and plans to bolster oversight over the reforms. "If I am selected to Chair the Committee, I will make oversight a priority and put the federal government in its place. Since Biden took office, Foxx has been highly critical of the higher education policies and reforms he has enacted, specifically related to student debt. Biden's administration is continuing to fight for it's student-debt relief plan, with the matter now sitting at the Supreme Court.

☆ Republicans are gearing up to investigate Biden's student-debt relief when they take control of the House
▼ + stars: | 2022-11-21 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +4 min

GOP Reps. Virginia Foxx and Jason Smith began oversight actions on Biden's student-debt relief. It comes as Biden's debt relief remains on hold due to rulings from two federal courts. While Democrats maintained control over the Senate in the midterms elections, Republicans managed to win a slim majority over the House — and they're likely to use that power to investigate the Biden administration. They have supported the two lawsuits that have successfully put a pause on the implementation of the debt relief. The department has also taken matters to the Supreme Court, most recently appealing the decision of the 8th Circuit Court of Appeals to continue its pause on Biden's debt relief.

WASHINGTON — House Republicans' majority will be smaller than expected, but they're eager to use their new oversight powers and pass a spate of bills to draw contrasts with Democrats and give the Biden administration heartburn. House Minority Leader Kevin McCarthy, R-Calif., joined by Rep. Jim Banks, R-Ind., left, and Rep. Jim Jordan, R-Ohio, in Washington on July 21, 2021. A growing number of Republicans say they have their sights set on impeaching Homeland Security Secretary Alejandro Mayorkas, bashing his handling of the border surge. LegislationDemocrats still occupy the White House, so any legislation Republicans pass on a partisan basis won’t be signed into law by Biden. But House Republicans say they will waste no time showing the parties’ stark differences as they battle for control of the White House in 2024.

☆ Trump tax return fight would get dropped by Republicans vying for key U.S. House committee chair
▼ + stars: | 2022-11-17 | by ( Christina Wilkie | ) www.cnbc.com time to read: +2 min

Protestors take part in the 'Tax March' calling on President Donald Trump to release his tax records on April 15, 2017 in New York. The fight began in 2019, when the Democratic-controlled Ways and Means committee asked the IRS for Trump's returns. When Biden took office and the Treasury Department moved to hand over the returns, Trump countersued to stop the release. If the hold is lifted, Treasury would deliver the returns to the Ways and Means Committee, likely within days. Missouri GOP Rep. Jason Smith, who is not related to Nebraska's Adrian Smith, said he too would halt the years long effort to get Trump's tax returns.

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