Tag: ‘Dick Durbin’

Taxes: To Be Considered, Rejected, or Collected

By :: January 9th, 2015

The White House plans to release its budget on February 2. It would be the first time since 2010 that the Administration would meet  the deadline for the roll-out. The Hill reports that the OMB hopes such timeliness will restore some discipline to an old and broken-down process. Broken down perhaps, but not without a […]

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New Chairs, New Resistance, and Maybe, New Taxes

By :: November 20th, 2014

As expected: Paul Ryan will succeed Dave Camp as House Ways & Means Chair. Representative Kevin Brady removed himself from consideration earlier this week, though he had more committee seniority. The full House GOP conference approved its  Steering Committee’s chairmanship recommendations, including Jason Chaffetz  to replace Darrell Issa on the Oversight and Government Reform panel […]

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On Residence, Retirement, and Economic Records

By :: October 20th, 2014

Congress is in recess through the mid-term elections. The Daily Deduction will post each Monday until then.  What’s a multinational to do? Where is it to go?  Senator Dick Durbin and Senate Finance Committee Chair Ron Wyden seem pleased that Chicago-based AbbVie’s  decided to drop its deal with Dublin-based Shire. But other inversion deals continue […]

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Tax Policy in September: Racing to a Grinding Halt?

By :: September 12th, 2014

Have it your way… unless you’re Burger King. Five Senate Democrats—Illinois’ Dick Durbin, Michigan’s Carl Levin, Rhode Island’s Jack Reed, Vermont’s Bernie Sanders and Ohio’s Sherrod Brown—asked Burger King to not move its legal headquarters to lower-tax Canada. They accused it of trying to avoid paying its fair share for roads and other public services […]

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Rules, Reform, Taxes and Wealth: No Harm in Trying?

By :: September 11th, 2014

Maybe the duck will walk again? Lawmakers are putting down their markers on anti-inversion legislation. Top Senate Democrats Dick Durbin and Chuck Schumer have introduced a bill to curb “earnings-stripping” by multinational corporations—a practice where firms maximize U.S. tax deductions for interest payments and other business costs while shifting income to low-tax countries. Senate Finance […]

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A Fix on the Horizon for the Online Sales Tax Mess

By :: November 17th, 2011

A bipartisan group of 10 U.S. senators would allow states to require online retailers to collect sales taxes on all purchases, as long as the states first agree to simplify their sales tax rules. And, remarkably, their  idea has broad support in the business community and may actually pass. The effort, led by senators Mike […]

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