Would-be tax reformers on Capitol Hill are taking a “blank slate” approach to the issue. Dave Camp and Max Baucus, the House Republican and Senate Democrat in charge of the tax-law committees, say that every tax break is on death row unless a strong case can be made for it.
The tax regime that’s been the backbone of the Eurobond market since its inception 50 years ago is now threatened by the same regulatory overhaul driving corporate borrowers to issue bonds rather than take bank loans.
Democratic Newark Mayor Cory Booker will face Republican Steven Lonegan, who has lost previous campaigns for New Jersey and national office, in a special election for the U.S. Senate seat of the late Frank Lautenberg.
When it comes to the politically inflammatory issue of U.S. companies holding trillions of dollars in profits overseas, two tech firms get the lion's share of attention and blame for the practice: Apple and Cisco Systems.
Senator Orrin Hatch is pushing an overhaul of public pensions that would let life insurers grab a bigger share of the $3 trillion in state and local funds, a potential windfall for companies such as MetLife Inc. and Prudential Financial Inc.
In the weeks after the U.S. Supreme Court’s rulings on same-sex marriage, celebration has given way to the challenges of carrying them out. The complications begin with the Barack Obama administration’s own long equivocation over who should take the leading role in defining marriage: the states or the federal government.