WASHINGTON — In January, the U.S. government ran up against its legal borrowing limit of $31.381 trillion, and the Treasury Department began implementing “extraordinary measures” to avoid missing payments on its bills. That started speculation about the “x-date” — the date when ...

DETROIT — Tesla’s first-quarter net income tumbled 24 percent from a year ago as multiple price cuts across its model lineup reduced the amount of money generated per vehicle even as sales rose. The Austin, Texas, electric car and solar panel company said Wednesday it made $2.51 billion ...

WASHINGTON — House Speaker Kevin McCarthy worked furiously Tuesday to build support for a Republican plan that would demand strict limits to federal spending in return for agreeing to raise the nation’s debt limit and stave off an unprecedented U.S. default. But President Joe Biden ...

MONTGOMERY, Ala. — Alabama is one of only three states that tax groceries at the same rate as other purchases. But as food prices soar — and as the state sees a record budget surplus — Alabama lawmakers are considering removing, or phasing out, the state’s 4 percent sales tax on ...

WASHINGTON — The IRS released details Thursday on how it plans to use an infusion of $80 billion for improved operations, pledging to invest in new technology, hire more customer service representatives and expand its ability to audit high-wealth taxpayers. While some Republicans have ...

DETROIT — U.S. new-vehicle sales rose 7.5 percent in the first quarter as supplies improved and sky-high prices eased a bit while the global shortage of computer chips started to wane. But the average auto-loan rate hit 7 percent during the quarter, leaving open the question of whether ...