An eventual decision in the case could severely limit congressional options in enacting tax policy, and it could cost the federal government trillions of dollars in corporate taxes.
A couple who owned a controlling interest in a foreign corporation argue that a controversial Trump-era tax is unconstitutional under the 16th Amendment.
The justices struggled to decide whether to give a thumbs up or thumbs down to the multi-billion dollar Purdue Pharma bankruptcy deal--a deal meant to compensate victims of OxyContin.
Under the deal, Purdue agreed it owed $8 billion in criminal and civil fines. That deal is at the center of Monday's case because it releases the Sacklers from personal liability.
Sandra Day O'Connor was called "the most powerful woman in America" during her quarter of a century as a Supreme Court justice.
The Supreme Court's conservative justices seemed highly skeptical of how the Securities and Exchange Commission conducts in-house enforcement proceedings to ensure the integrity of securities markets.
The U.S. Supreme Court is adopting a code of ethics for its justices amid mounting criticism of gifts and trips from wealthy benefactors to certain justices.
The cases — from Michigan and California — echo issues raised in a now-defunct suit against then-President Donald Trump for blocking his critics on Twitter.
The case has been widely watched, not just because it could produce an additional Democratic House seat, but because the Fifth Circuit's actions are seen as a challenge to the high court's authority.