A coalition of large multinational companies is lobbying to delay a tax increase on foreign earnings in the Build Back Better plan
WASHINGTON—A coalition of large multinational companies has launched a late lobbying blitz to delay a tax increase on foreign earnings in the Build Back Better plan, saying it would hurt U.S. businesses when they compete with foreign rivals.
The dispute represents another potential stumbling block for President Biden’s top domestic-policy priority, which relies on corporate tax increases to fund greater spending on education, child care, healthcare and other domestic programs.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Democrats Brace for Rewrite of Biden Spending Plan to Woo Joe ManchinSatisfying pivotal senator could force substantial changes in what President Biden described in October as Democrats’ consensus healthcare, education and climate bill.
Read more »
Consumer Financial Protection Bureau Probing ‘Buy Now, Pay Later’ Companies, Including Affirm, KlarnaThe Consumer Financial Protection Bureau launched an inquiry into 'buy now, pay later' installment plans offered by Afterpay, Affirm, Klarna and other firms that are frequently offered to online shoppers
Read more »
White House Considering Double Child Tax Credits In February To Make Up For Missed January PaymentThe current tax credits are part of President Biden’s coronavirus relief law, which expires at the end of the year.
Read more »
Biden acknowledges his big social-spending bill won't get Senate's OK this yearPresident Joe Biden is conceding that he and his fellow Democrats need more time to deliver on his big social-spending and climate package. “My team and I are having ongoing discussions with Senator Manchin; that work will continue next week,” Biden said.
Read more »
Biden unveils plan to replace all lead pipes over 10 yearsTwo years after the Flint, MI water crisis put a national spotlight on the issue, the city began replacing its lead pipes in 2016. Mayor Sheldon Neeley praises the Biden Infrastructure law’s $15 billion to replace every lead pipe in the country and tells Jonathan Capehart, “we cannot afford not to do this.”
Read more »
Biden farm debt relief plan to exclude thousands of minority farmersThe latest version of the Biden administration’s plan to forgive billions of dollars in farm debt - initially targeted at farmers of color - will exclude thousands of its originally intended recipients because of a change in loan eligibility, according to government data reviewed by Reuters.
Read more »