Trump pledges to lower corporate tax to 15%, big incentives for US manufacturers
1 week, 3 days ago

Trump pledges to lower corporate tax to 15%, big incentives for US manufacturers

India Today  

US President-elect Donald Trump on Thursday announced a reduction in corporate taxes to 15 per cent as he outlined his plans for the economy while ringing the New York Stock Exchange’s opening bell, after being named as Time magazine's person of the year. He vowed to lower the corporate tax rate from 21 per cent to 15 per cent and said that he is discussing with his advisers the possibility of reducing levies on capital gains and dividends. Meanwhile, the US President-elect was named by Time magazine as the ‘2024 TIME Person of the Year’ for “marshalling a comeback of historic proportions” and “altering America’s role in the world”. The magazine honoured Trump also “for driving a once-in-a-generation political realignment” and “for reshaping the American presidency,” the second time for the president-elect after receiving it in 2016.

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Canada Pressured to Respond to Trump’s Tax Cut Regime
2 weeks, 1 day ago

Canada Pressured to Respond to Trump’s Tax Cut Regime

Live Mint  

Donald Trump’s planned tax cuts would wipe out Canada’s slim corporate tax advantage, likely driving more capital from the northern nation and deepening its productivity crisis. Canada’s Finance Minister Chrystia Freeland estimated earlier this year that the tax rate on new business investment would rise to 16.8% by 2028, more than eight points lower than a projected 24.9% in the …

Big corporations used Trump tax cuts to pump $839B into buybacks and dividends: report
2 months ago

Big corporations used Trump tax cuts to pump $839B into buybacks and dividends: report

Raw Story  

The 15 largest corporate beneficiaries of former President Donald Trump's 2017 tax law have dumped a combined $839 billion into executive-enriching stock buybacks and dividends since the measure's passage, according to research released Wednesday by the progressive watchdog group Accountable.US. "There's nothing to be gained for everyday Americans by doubling down on the Trump corporate tax breaks—a historic mistake that …

15 big corporations used Trump tax cuts to pump $839 billion into buybacks, dividends
2 months ago

15 big corporations used Trump tax cuts to pump $839 billion into buybacks, dividends

Raw Story  

The 15 largest corporate beneficiaries of former President Donald Trump's 2017 tax law have dumped a combined $839 billion into executive-enriching stock buybacks and dividends since the measure's passage, according to research released Wednesday by the progressive watchdog group Accountable.US. "There's nothing to be gained for everyday Americans by doubling down on the Trump corporate tax breaks—a historic mistake that …

Analysis shows Trump tax plan would make rich people richer — and working people poorer
2 months, 2 weeks ago

Analysis shows Trump tax plan would make rich people richer — and working people poorer

Raw Story  

Republican presidential nominee Donald Trump's proposal to further reduce the U.S. corporate tax rate from 21% to 15% would make the bottom half of the nation's income distribution poorer while boosting the fortunes of those at the very top, according to an analysis published Thursday by economists at American University. If implemented, the economists found, Trump's plan would "modestly reduce" …

Outrage as Dems name and shame companies prioritizing exec pay over taxes
2 months, 3 weeks ago

Outrage as Dems name and shame companies prioritizing exec pay over taxes

Raw Story  

A group of congressional Democrats and Independent Sen. Bernie Sanders on Friday highlighted dozens of profitable U.S. corporations that have paid their executives more than they've paid in federal income taxes in recent years, a problem that the lawmakers attributed in large part to former President Donald Trump's massive tax-cut package that Republicans are working to extend. "In the first …

Treasury proposes rule to prevent large corporations from evading income taxes
3 months, 1 week ago

Treasury proposes rule to prevent large corporations from evading income taxes

Associated Press  

WASHINGTON — The Biden administration on Thursday proposed a new rule that would require the largest U.S. companies to pay at least 15% of their profits in taxes. Treasury Department officials estimate that about 100 of the biggest corporations — those with at least $1 billion in annual profits — would be forced to pay more in taxes under a …

Trump says he’ll boost the economy by cutting federal spending and corporate taxes
3 months, 2 weeks ago

Trump says he’ll boost the economy by cutting federal spending and corporate taxes

LA Times  

Donald Trump speaks at a campaign event at the Economic Club of New York on Thursday. Former President Trump told a group of executives and industry leaders on Thursday that he wants to lead a “national economic renaissance” by slashing regulations to boost energy production, embracing cryptocurrencies and drastically cutting government spending as well as corporate taxes for companies that …

Trump’s economic plans include proposed tariffs, tax cuts and no taxes on tips. Details are scarce
5 months, 1 week ago

Trump’s economic plans include proposed tariffs, tax cuts and no taxes on tips. Details are scarce

Associated Press  

WASHINGTON — The first night of the Republican National Convention kept its official focus on the economy Monday even after Saturday’s shooting at a rally in Pennsylvania in which former President Donald Trump was injured. The platform would address illegal immigration in part with the “largest deportation program in American history.” And Trump would also scrap President Joe Biden’s policies …

Trump tries to woo billionaire CEOs with promise of another round of tax cuts: report
6 months, 1 week ago

Trump tries to woo billionaire CEOs with promise of another round of tax cuts: report

Raw Story  

Former President Donald Trump is trying to push the billionaire businessman class back into his camp with a promise of another round of corporate tax cuts, this time reducing the rate from 21 percent to 20 percent. According to The New York Times, "Mr. Trump made the remarks from a comfortable gray armchair during a conversation with his former economic …

Deal to force multinational companies to pay a 15% minimum tax is marred by loopholes, watchdog says
1 year, 2 months ago

Deal to force multinational companies to pay a 15% minimum tax is marred by loopholes, watchdog says

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy An ambitious 2021 agreement by …

Joe Biden defends his $2.5tn infrastructure bill and business tax hikes
3 years, 8 months ago

Joe Biden defends his $2.5tn infrastructure bill and business tax hikes

Daily Mail  

President Joe Biden launched a full-throated defense of his corporate tax hike to fund his $2.3 trillion dollar infrastructure plan, saying he was tired of ordinary Americans being fleeced. Biden's tax proposal would hike the corporate tax rate to 28 per cent, increase the de facto global minimum tax and crack down on companies that pay little or no income …

U.S. Treasury Secretary calls for minimum global corporate income tax
3 years, 8 months ago

U.S. Treasury Secretary calls for minimum global corporate income tax

The Hindu  

U.S. Treasury Secretary Janet Yellen on Monday urged the adoption of a minimum global corporate income tax, an effort to offset any disadvantages that might arise from the Biden administration's proposed increase in the U.S. corporate tax rate. Citing a “thirty-year race to the bottom” in which countries have slashed corporate tax rates in an effort to attract multinational businesses, …

US President Joe Biden plans to reverse Donald Trump's corporate tax cut legislation
3 years, 8 months ago

US President Joe Biden plans to reverse Donald Trump's corporate tax cut legislation

ABC  

US President Joe Biden has outlined a plan to reengineer the nation's infrastructure, undoing a signature piece of Trump legislation in the process. Key points: The White House said the plan would create jobs to help the country combat climate change Donald Trump had previously reduced the corporate tax rate from 35 to 21 per cent Mr Trump labelled the …

Biden plans to up corporate tax rates to fund infrastructure boom
3 years, 8 months ago

Biden plans to up corporate tax rates to fund infrastructure boom

Al Jazeera  

The corporate tax-cut party President Donald Trump kicked off will soon be over if his successor proves able to enact proposals to roll back half of the 2017 domestic income-tax reduction and to radically revamp levies on profits earned abroad. “They’re not just rolling back the tax cuts from 2017,” said David Noren, a former legislative counsel to the congressional …

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