Tax Reform News
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Democratic Senator Carl Levin said an overhaul of the U.S. tax code would be difficult to accomplish and instead lawmakers should focus on curbing “unjustified” tax breaks.
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Tim Cook’s tenure at the helm of Apple Inc. has been a crash course in crisis management.
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A congressional hearing into Apple Inc.’s use of offshore tax shelters called attention to how U.S. companies lower their taxes, and underscored the difficulty Congress confronts when trying to end the practice.
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When Apple Inc.’s chief executive officer, Tim Cook, bragged to a U.S. Senate subcommittee this week about his company’s culture of innovation, he probably hoped people would think of Apple’s gadgets, not its tax strategies.
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It has been 35 years since California voters overwhelmingly approved Proposition 13, a measure that, as Governor Jerry Brown put it in 2011, “started the centralization of power” in the state. He should know because he was also governor in 1978 and helped oversee that shift.
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Treasury Secretary Jacob J. Lew said in an interview with Bloomberg Television’s “Political Capital with Al Hunt,” airing this weekend, that he was briefed in March on an investigation of selective IRS screening of nonprofit groups though he didn’t learn details of the findings until last week.
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Modern fiscal conservatism has wrapped itself in one whopper of a false choice: That the U.S. must decide between economic growth and the welfare state.
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Property and casualty insurers are voicing concerns that longstanding tax exemptions for municipal bonds could be disrupted as part of a broader U.S. tax-code changes being considered by Congress.
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Apple Inc., which holds $102 billion in cash and investments outside the U.S., will suggest changes to corporate-tax laws to encourage companies to bring more cash into the country.
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The scandal at the Internal Revenue Service reinforces the case for revising the U.S. tax code, Congress’s top tax writers said in an interview with Bloomberg Television.
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