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The Latest Breaking News from Senate Finance Committee

Aging state vehicle fleet fuels tens of millions in new money requests by agencies

Many state-owned vehicles are aging past the standards for replacement. Early budget drafts signal that lawmakers are considering funding some $237.6 million in requests for new ones.

The Texas Tribune

Texas Military Department says it needs $460 million more to keep border mission afloat this year

State officials have repeatedly had to move money from other departments to keep Gov. Greg Abbott’s multibillion-dollar border mission running this year.

The Texas Tribune

Trump used Freedom of Information Act request to slow IRS release of his taxes

Mr Trump had the authority to ask for the records during his presidency but instead used the Freedom of Information Act

The Independent UK

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Drug company middlemen likely to be a focus in 118th Congress

WASHINGTON — Factions of the health care system and members of Congress are turning their fire on an oft-maligned part of the drug pricing system — the middlemen who negotiate discounts with drug companies on behalf of health plans.

Tribune News Service

Drug company middlemen likely to be a focus in 118th Congress - Roll Call

PBMs argue that the rebates they collect from drug companies in exchange for coverage by a health plan are used to lower premiums.

Roll Call

How Congress cracked down on tax scam

New law shuts down “syndicated conservation easements” that exploit charitable tax break meant to preserve lands

Salon

Thirty-four of 37 Pennsylvania State Senate committee chairs raised less money than the average member this cycle

Elections for 26 of 49 seats in the Pennsylvania State Senate took place on Nov. 8, 2022. Republicans held a 27-22 majority heading into the election.

Ballotpedia

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Congressional panel votes to release Trump's tax returns to public

WASHINGTON — A House panel voted Tuesday along party lines to release former President Donald Trump's tax returns, an unprecedented move that marks the culmination of a yearslong legal battle to disclose his financial records.

Los Angeles Times

Thirteen of 20 North Carolina State Senate committee chairs raised less money than the average member this cycle

Elections for all 50 seats in the North Carolina State Senate took place on Nov. 8, 2022. Republicans held a 28-22 majority heading into the election.

Ballotpedia

GOP blocks $12B to fight child poverty

GOPer says "the country frankly doesn't have the time or the money" to help impoverished kids

Salon

Editorial: Turn ’em over, Donald: Congress has a right to see Trump’s taxes

When Richie Neal was mayor of Springfield, in Western Massachusetts, in the 1980s, Donald Trump was a lying Manhattan real estate promoter who routinely cheated those who were foolish enough to do business with him. God knows what Trump’s tax returns looked like, but those suspect documents were a matter…

Tribune News Service

How This US Senator, Finance Committee Member Is Betting Against The Stock Market

A U.S. Senator who previously bet against the stock market in 2022 has placed a new bet with an ETF that shorts U.S. listed companies. Here are the details.

Benzinga

Tougher IRS enforcement central to Dem economic package

One of Washington’s favorite punching bags, the Internal Revenue Service, may finally get the resources it’s been asking Congress for if Democrats get their economic package focused on energy and health care over the finish line

The Independent UK

Battle erupts over claim Manchin bill raises middle-class taxes

Official analysis suggesting it won’t just be the wealthy that end up paying tax hikes included in the latest version of Democrats’ long-term economic agenda has ignited a partisan messaging battle with potential consequences for November elections.

Tribune News Service

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Investors Business Daily

Secure 2.0: Which House, Senate Proposals Are Best For You?

Congress has taken three giant steps toward beefing up retirement planning for Americans this year. A make-or-break step comes next.

The Independent UK

Bipartisan push on mental health crisis that COVID worsened

A major effort to overhaul care for people in the United States with mental health and drug problems is gaining traction in Washington

Salon

Why Big Pharma loves Tim Scott

During the second half of 2021, Scott was the top recipient of drug campaign cash in Congress

Tribune News Service

Big Pharma is betting on bigger political ambitions from Sen. Tim Scott

Sen. Tim Scott, a rising star in the Republican Party with broad popularity in his home state of South Carolina, is getting showered with drug industry money before facing voters this fall.

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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

Senate Finance leaders outline mental health legislative timeline - Roll Call

Senate Finance Committee leaders said they aim to put together a bipartisan legislative package addressing mental health.

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