The federal debt limit, also known as the debt ceiling, is the amount of money Congress has authorized for the U.S. government to borrow in order to meet existing obligations, which includes interest on national debt and tax refunds.1 In 1917, the year the U.S. entered World War I, Congress created the first debt-ceiling limit…
Author: Melanie Rosin
Master Limited Partnerships: Where They Have Been and Where They Are Going
A master limited partnership (“MLP”) is a business that acts like a corporation (meaning it is publicly traded and an investor can buy units of it like it would buy shares of a corporation) but is organized as a partnership—thus not subject to double taxation like a traditional corporation. The first MLP came into existence…