Many economists say suspending federal taxes on gas will not significantly cut prices for consumers.
Tag Archives: Corporate Taxes
A Tax Deal, in Trouble
A global agreement to increase taxes on corporations is in jeopardy.
Thomas Piketty’s Radical Plan for a More Equal World
The economist makes his case for universal inheritance, worker ownership and ‘participatory socialism.’
$100 Million Film Studio to Rise From Rubble of Ex-Public Housing Site
Lionsgate Newark will include six large soundstages. It’s being built on the site of one of New Jersey’s first public housing projects.
Bernanke’s Economic Warning
The former Federal Reserve chair warns that the U.S. could be headed for a period of “stagflation.”
Treasury Secretary Yellen Looks to Get Global Tax Deal Back on Track
The Treasury secretary is traveling to Warsaw, Brussels and Bonn, Germany, this week at an uncertain time for the global economy.
Why Did DeSantis Revoke Disney’s Special Tax Status? What We Know.
The Florida governor and state lawmakers revoked the theme park’s special tax status in an ongoing battle that escalated over a recently passed education bill.
Florida Votes to Revoke Disney’s Special Tax Status
The vote, which appears certain to be signed into law by Gov. Ron DeSantis, follows an acrimonious clash over what has been called the “Don’t Say Gay” law in the state.
Prosecutors Leading Trump Fraud Investigation in NY Resign
The prosecutors had abruptly stopped presenting evidence to a grand jury in the high-stakes criminal investigation into the former president’s business practices.
Where Liberalism Could Dream Bigger
Democrats need to realize that America’s future does not lie in Europe’s past.
‘Davos Man,’ Marc Benioff and the Covid Pandemic
They stepped up in the pandemic “to save the world,” says Marc Benioff of Salesforce. Even as their tax practices and perches kept them above its troubles.
Trump Investigation Enters Crucial Phase as Prosecutor’s Term Nears End
New developments suggest the long-running inquiry has returned to an earlier focus: the valuations the former president and his family business applied to properties as it sought loans.
House Narrowly Passes Biden’s Social Safety Net and Climate Bill
The vote was months in the making for the roughly $2 trillion measure, one of the most consequential bills in decades. Now it faces a difficult path in the Senate.
Cities Try to Lure Factories as U.S. Pushes to Fix Chip Shortage
Many local governments see a silver lining in the shortage of semiconductor chips that has contributed to a slowdown in the global economy.
Brexit Brain Drain Delivers Financial Boon to Estonia
The former Soviet satellite state is welcoming British companies looking to escape the tangle of regulations and financial obstacles of doing business in Europe.
Democrats Employ Budget Gimmicks They Once Derided
Budget experts say true cost of legislation could be $4 trillion as lawmakers rely on sleights of hand to bring down the price tag.
Some Politicians We Don’t Love, Some Movies We Do
Election Day and movie night offer different pleasures.
Biden Finds Raising Corporate Tax Rates Easier Abroad Than at Home
As the Group of 20 seals a new global minimum tax for companies, the president has scaled back his plans to tax U.S. corporations more.
A Global Tax Deal Is at Hand. Here’s How It Would Work.
President Biden will sign on to an international pact aimed at ending profit-shifting by large companies. Here’s a look at what it means.
How $2 Trillion in Tax Increases in Biden’s Bill Target Companies and the Rich
The proposal to fund the president’s sprawling spending plan mostly turns up the dial on more conventional tax policies, while trying to curb maneuvers that allow tax avoidance.
How Biden’s $2 Trillion in Tax Increases Target Companies and the Rich
The proposal to fund the president’s sprawling spending plan mostly turns up the dial on more conventional tax policies, while trying to curb maneuvers that allow tax avoidance.
Democrats Rush to Rewrite U.S. Tax Code in Days
Lawmakers are racing to finalize legislation to pay for new spending initiatives. The process usually takes months, but they are trying to do it in days.
Pastries and Persuasion: How a Global Tax Deal Got Done
Over Zoom calls from basements and a breakfast in Brussels, faltering negotiations to remake the world’s tax architecture were revived.
Democrats Hammer Out Novel Plan to Tax Billionaires and Corporate Giants
New proposals would fund social and climate programs by tapping billionaires’ unrealized gains and by ensuring that the biggest companies cannot avoid income taxes altogether.
Tax the Rich, Help America’s Children
Democrats’ plans aren’t “Marxism.” They’re as American as apple pie.
Tax Evasion and the Republican Party
By enabling resistance to lawful taxation, Republicans are undermining democracy.
Democrats Consider Billionaires Tax
Senator Kyrsten Sinema’s refusal to accept corporate, individual or capital gains tax rate increases has led Democrats to consider proposals once championed by the party’s most liberal flank.
How Not to Let Corporations Kill Biden’s Agenda
Profit taxes should be increased, but it’s OK to borrow if they aren’t.
Democrats Back Away From Raising Tax Rates to Pay for Agenda
Responding to concerns from a key centrist, Senator Kyrsten Sinema of Arizona, the White House and leading Democrats are instead discussing a range of other taxes to pay for the plan.
The Stock Market’s Gains Could Be Spread More Fairly
The markets going up even as wages stagnate is not a sign of a rigged system.
Will a Global Minimum Tax End the Tax Haven Race to the Bottom?
To crack down on tax havens, nations have agreed on a plan for a global minimum tax of 15 percent.
Two Authors View America From Above and Below, and Are Not Happy With What They See
Evan Osnos’s “Wildland” and Alec Ross’s “The Raging 2020s” take different paths to arrive at the same worrisome conclusion about the country’s future.
Global Tax Deal Moves Closer as Hungary, a Low-Tax Holdout, Signs On
A pact among more than 130 countries that would set a minimum tax rate of 15 percent is expected to be announced later Friday.
A Global Deal Aimed at Ending Tax Havens Gains Momentum
Negotiators are coalescing around a 15 percent minimum tax rate, which could be announced at a Friday meeting.
Amazon wins record US tax breaks to expand delivery network
Enlarge (credit: NurPhoto | Amazon)
Amazon has won a record amount of tax breaks this year as local officials try to lure the online shopping giant to expand its one-day or same-day delivery networks in their areas.
According to data from Good Jobs First, an economic development watchdog based in Washington, DC, Amazon has so far secured about $650 million in sweeteners from local and state governments in 2021, a mixture of grants, tax exemptions, and other incentives. This was likely to be a conservative estimate, the group said, because of the secrecy around some of the deals.
With three months still to go, 2021 already has the largest yearly tally since Good Jobs First began collecting the data in 2000, excluding incentives for non-logistics projects, such as filmmaking and office development, and the more than $750 million package Amazon was awarded in 2019 to build its “second” headquarters in Arlington, Virginia.
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How Accounting Giants Craft Favorable Tax Rules From Inside Government
Lawyers from top accounting firms do brief stints in the Treasury Department, with the expectation of big raises when they return.
House Bill Raises Chance for Global Pact to Curb Corporate Tax Havens
Several big details remain to be worked out before an international October deadline.
How House Democrats Plan to Raise $2.9 Trillion for a Safety Net
Details of the legislation show higher taxes for companies and the wealthy, but key elements differ from the Senate and White House proposals.
House Democrats Outline Tax Increases for Wealthy Businesses and Individuals
The draft proposal includes raising the corporate tax rate to 26.5 percent for the richest businesses to help pay for President Biden’s sweeping expansion of the social safety net.
In Social Policy Bill, Businesses See a Lot to Like. They Oppose It.
Resistance to tax increases outweighs the appeal of a $3.5 trillion measure containing child care credits and other items that corporations embrace.
Democrats Eye Taxing Stock Buybacks and Partnerships
Senate Democrats say a 2 percent tax on the money companies use to buy back stocks and tightened rules around taxing partnerships would raise $270 billion for their $3.5 trillion social policy bill.
Democrats and Lobbyists Gird for Battle Over Far-Reaching Tax Increases
Congressional committees this week begin drafting tax increases on the wealthy and corporations to pay for a $3.5 trillion social policy bill, but the targets are putting up a fight.
Corporate America Is Lobbying for Climate Disaster
It wants to prioritize low taxes over the fate of civilization.
N.Y. Prosecutors Weigh Charges Against Another Trump Executive
Matthew Calamari, the chief operating officer at the Trump Organization, is under scrutiny. His son testified before a grand jury Thursday.
Senate Passes $3.5 Trillion Budget Plan, Advancing Sweeping Safety Net Expansion
The blueprint, which would expand Medicaid, provide free preschool and community college, and fund climate change programs, passed along party lines and faces an arduous path ahead.
Global Tax Overhaul Gains Steam as G20 Backs New Levies
The approach marks a reversal of years of economic policies that embraced low taxes as a way for countries to attract investment and fuel growth.
Finance Ministers Meet in Venice to Finalize Global Tax Agreement
The G20 gathering begins a crucial stretch in yearslong negotiations.
Trump Organization Indictment: What We Know
Charges against the former president’s company and a top executive, explained.
U.S. Proposal for Global Minimum Tax Gets Backing From 130 Countries
A 15 percent minimum tax rate would generate $150 billion in additional tax revenue each year, the Organization for Economic Cooperation and Development said.
Top Trump Executive Allen Weisselberg Surrenders to Face Charges
The Trump Organization and Mr. Weisselberg have been indicted in connection with a tax investigation and are expected to appear in court later Thursday.