Tag Archives: tax

U.S. plan will end dozens of business tax breaks: Geithner (Reuters)

WASHINGTON (Reuters) ? The Obama administration’s corporate tax reform plan will end “dozens and dozens” of breaks, Treasury Secretary Timothy Geithner said on Tuesday as he defended the White House’s election-year call for higher taxes from wealthy taxpayers. Within days, the administration is to unveil a blueprint for revamping the corporate tax system that aims to help level the playing… (more…)

Dems make secret offer to cut deficit by $2 trillion

WASHINGTON?? Democrats on Congress’ supercommittee secretly presented Republicans with a revised deficit-cutting proposal earlier this week that calls for a blend of $1 trillion in spending cuts and $1 trillion in higher tax revenue over the next decade, officials in both parties said Wednesday night, adding that compromise talks remain alive though troubled. Other political… (more…)

Calif. lawmakers approve Amazon tax compromise

SACRAMENTO, Calif. (AP) ? Lawmakers on Friday sent Gov. Jerry Brown a compromise bill that delays California’s effort to force online retailers such as Amazon.com to collect the state’s sales taxes while retailers lobby Congress for national rules governing online sales taxes. The state Assembly approved AB155 on a bipartisan, 59-8 vote in the final hours of this year’s legislative… (more…)