U.S. companies could encounter higher borrowing costs under a congressional tax plan that would reverse a 29-year-old policy making it easier for other countries’ residents to invest in U.S. corporate debt.
Senator Max Baucus, a Democrat from Montana and the chairman of the Senate Finance Committee, wants to cut corporate tax rates. But he’s finding that corporations are lining up to criticize his proposal.
Oil companies, manufacturers, advertisers and real estate investors warned that a proposal from Senate Finance Chairman Max Baucus to slow down deductions for capital assets could raise the cost of investment.
Senate Finance Chairman Max Baucus proposed requiring companies to take deductions for many capital asset purchases over a longer period, showing for the first time the tradeoffs in his plan to lower the corporate tax rate.
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.
Senate Finance Committee Chairman Max Baucus proposed enacting tougher penalties against identity theft committed through the tax system, expanding electronic tax filing and giving the U.S. Internal Revenue Service clear authority to regulate tax preparers.
Senate Finance Chairman Max Baucus, a Democrat who was the lead author of the 2010 U.S. health-care law, said on Bloomberg Television’s “Political Capital with Al Hunt,” airing this weekend, that he expects the “bugs” that have plagued the rollout of the health-insurance exchanges will be fixed by Dec. 15, the deadline for Americans to sign up for coverage that starts Jan. 1.