Just one Senate Democrat opposed the party’s majority on the estate tax, a medical-device tax, a possible carbon tax, online sales taxes and the revenue-raising budget plan. He’s the senator in charge of tax policy: Max Baucus of Montana.
The U.S. will use diplomatic and legal means to halt China’s computer theft of trade secrets, its new ambassador in Beijing said today, amid escalating tensions between the two sides over cybersecurity.
U.S. companies would face a minimum tax on the income they earn around the world under a plan released today by Senate Finance Chairman Max Baucus that marks his most significant proposal to revamp the tax code.
President Barack Obama said today he will nominate Senate Finance Committee Chairman Max Baucus to become ambassador to China, slowing the chances of the biggest changes to the U.S. tax code since 1986.