Hong Kong (CNNMoney) - The Obama administration will file a complaint Monday with the World Trade Organization, alleging that China has illegally subsidized automotive exports and undercut American suppliers.
The complaint accuses China of providing $1 billion in illegal subsidies to auto and auto-part exporters between 2009 and 2011, according to a senior administration official.FULL STORY
New York (CNNMoney) - It has become clear that Mitt Romney does not want to release any additional tax returns.
But that's not the only tax issue the presumptive nominee has been reluctant to talk about. He has been equally quiet on a policy question that could have a direct impact on the amount of taxes paid by millions of Americans.FULL STORY
NEW YORK (CNNMoney) – What does Mitt Romney really think about carried interest?
The tax break, which benefits private equity partners, continues to save the Republican presidential candidate millions of dollars in taxes after a pioneering career at Bain Capital.
Romney has, in the past, explicitly called for keeping the tax benefit in place. But this election cycle, even when asked directly, the candidate has not clearly articulated a position.FULL STORY
(CNNMoney) – Presidential hopeful Mitt Romney was asked Tuesday whether he would accept a salary as president, or refuse compensation in the name of deficit reduction.
The chief executive's salary is nothing to scoff at - $400,000 a year - but it amounts to loose change compared to the $1 trillion-plus annual federal deficit.FULL STORY
New York (CNNMoney) – In late March, Stephen Colbert expanded his super PAC experiment, admonishing his late-night viewers to start organizations of their own on college campuses across America.
They listened, and now the Federal Election Commission's roster of approved super PACs is filled with groups registered to addresses in college towns.FULL STORY
NEW YORK (CNNMoney) – The White House released documents Tuesday that show President Barack Obama and the first family hold assets valued at between $2.6 million and $8.3 million.
The disclosure forms, required by the Ethics in Government Act, show the president's largest asset, by far, is U.S. debt in the form of Treasury notes and bills. In total, the president has between $1.6 million and $6.3 million invested in Treasury debt.FULL STORY
NEW YORK (CNNMoney) - Mitt Romney is campaigning on a platform that emphasizes less spending, smaller deficits and renewed fiscal responsibility.
But in one budget area, Romney is running the opposite direction. The former Massachusetts governor wants to increase defense spending by leaps and bounds. By one estimate, additional spending would exceed $2 trillion over the next decade.FULL STORY
New York (CNN) - One of the biggest knocks on Mitt Romney this election cycle is that his policy proposals have lacked specificity - especially when it comes to how much the government should tax, and what programs it should spend that revenue on.
But on Sunday, a few new details were revealed as reporters were able to eavesdrop on a closed Romney fundraiser.FULL STORY
New York (CNNMoney) - More than a year has passed since the ambitious Simpson-Bowles deficit reduction plan went down in flames.
In December of 2010, the plan fell short of the 14 votes required for the commission to present its recommendations to Congress for a legislative vote. Much lip service was paid to the "seriousness" of the plan. But most members of Congress gave it no serious consideration. Ditto for the White House.FULL STORY
NEW YORK (CNNMoney) - The economy added 227,000 jobs in February, but the unemployment rate didn't change at all.
Woe is the White House - which would love to have the lowest rate possible heading into the general election.FULL STORY