Crapo, Tester Call for Simplified Capital, Reporting Requirements

Senate Republicans narrowly passed the GOP’s One Big Beautiful Bill Act. The bill now heads back to the House for final approval. President Trump has indicated that he wants to sign it into law by July 4. The vote was 51-50,...

The House version of the tax package included a provision to restore HSA eligibility for working seniors enrolled in Medicare Part A. Early Senate drafts left it out, but after strong advocacy from consumer groups and healthcare stakeholders...

The association’s feedback identifies opportunities to more closely align underlying economics with accounting outcomes; opportunities to balance costs relative to benefits; and topic areas for which ABA does not believe a project should be added.

The U.S. manufacturing sector contracted in June for the fourth month in a row, following a two-month expansion preceded by 26 straight months of contraction. The ISM Manufacturing PMI registered 49%, 0.5 percentage points lower compared to the...

Construction spending during May 2025 was estimated at a seasonally adjusted annual rate of $2,138.2 billion, 0.3% below the revised April estimate of $2,145.5 billion. The May figure is 3.5% below the May 2024 estimate of $2,215.4 billion....

ABA submitted a comment letter to the IRS requesting that the agency delay by 12 months the effective date of its new "code Y" reporting requirement on Forms 1099-R and 5498 for qualified charitable distributions made by individual...