The word repeal appears 278 times in the summary of Representative Dave Camp’s ambitious plan to revamp the U.S. tax code. Credit unions and pipelines are among the businesses relieved that the slashing doesn’t apply to them.
Representative Kevin Brady of Texas, chairman of the Joint Economic Committee, said in an interview on Bloomberg Television’s “Political Capital with Al Hunt,” airing this weekend, that a Republican plan to revise the U.S. tax code will benefit large banks by helping them stanch job losses within the industry.
Dave Camp, the Republican House Ways and Means Committee chairman, is filling in the blanks in his plan to revamp the U.S. tax code and leaning on the financial industry to help pay for lower tax rates.
The top Republican tax writer in Congress will lean on the financial industry with his planned revamp of the U.S. code, changing the treatment of carried interest and imposing a levy on the assets of banks and insurers.
When Barrow Barre quit her job as a pathologist in New Orleans to raise her newborn twins the 37-year-old told her husband Gregg he’d have to start saving more for their retirement. His response: “Retirement? "I’m going to have to work till I’m dead!”
Corporate America has a near record amount of cash on its balance sheet. Cash as a percentage of assets at non-financial companies in the S&P 500 now stands at 4.8 percent, according to Strategas Research Partners.
The producer price index has a whole new look. The first major overhaul of the gauge since 1978 more than doubles its reach and provides a more comprehensive view of U.S. inflation at the wholesale level.