Mercedes-Benz said on Thursday that the latest version of its least expensive sedan would be available first as an all-electric car and then as a hybrid. And the company will no longer sell a gasoline-only version of the car. That’s a big break from how Mercedes and other established carmakers have typically operated. Until recently,…
At the end of February, the House of Representatives passed a budget calling for up to $4.5 trillion in tax cuts over 10 years. Now, the haggling begins. Many of the tax cuts from the 2017 tax bill, which passed during President Trump’s first term, are set to expire at the end of this year….
They were conned by skilled online criminals into draining their retirement savings. After the shock, shame and grief that followed, the victims were often left with something else: an enormous income tax bill. Mary Ellen Strange, a 75-year-old widow who was deceived by fraudsters impersonating federal investigators, now owes the Internal Revenue Service an estimated…
American manufacturing has been in the doldrums for years, battered by high borrowing costs and a strong dollar, which makes exports less competitive. But there has been a bright spot: billions of dollars flowing into factory construction, signifying that a potential rebound in production and employment is around the corner. The flood of investment has…
In less than three weeks, President Trump has thrown the U.S. clean energy industry into chaos, with much of the economic damage hitting Republican states and districts. In a quest to eliminate any funding linked to climate change, the Trump administration has frozen federal grants for everything from battery factories to electric school buses and…
If President Trump has his way, the auto industry’s transition to electric vehicles will soon slam into reverse. He will erase tax credits for electric-vehicle purchases, federal grants for chargers, and subsidies and loans to help retool assembly lines and build battery factories. Executive orders issued by Mr. Trump on Inauguration Day amount to a…
Daniel Werfel, the commissioner of the Internal Revenue Service, told the agency’s employees that he would end his term early and step down on Monday as President-elect Donald J. Trump takes office. Mr. Trump has said he plans to nominate Billy Long, a former Republican congressman, to the role. Past presidents have treated the tax…
Seven years ago, when Republicans passed the most significant overhaul of the tax code in a generation, they were sure the law would supercharge investment, raise wages and shift the American economy into a higher gear. So did it? The answer, at least for now, is largely lost to history. A pandemic and a surge…
Sales of electric vehicles have been rising steadily over the past few years, in part because of a federal tax credit of up to $7,500 that makes buying such cars and trucks more affordable. But understanding which cars it applies to and under what circumstances can be confusing. And all of those rules could change…
To a large extent, the electric vehicle market in the United States runs on Democratic policies. There are federal tax credits for car buyers. Subsidies for battery manufacturing. Cheap loans to build electric car factories. Grants for chargers. Regulations that push automakers to sell more vehicles with no tailpipe emissions. All of that support —…
