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Tag Archives: tax

Reports: Trump Imposes Tariffs on Steel, Aluminum Imports

President Donald Trump on Thursday imposed a 25 percent tariff on steel imports and a 10 percent tax on imported aluminum in a push to build up national security and put an end to “aggressive foreign trade practices,” The Hill reported Sunday. Mexico and Canada would be exempted from the …

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Trump Taps Rep. Mick Mulvaney as OMB Chief

Rep. Mick Mulvaney (R-South Carolina) has been selected by President-elect Donald Trump to serve as director of the Office of Management and Budget, Roll Call reported Friday. Ryan McCrimmon writes Mulvaney is a founding member of the House Freedom Caucus and is in his third term in the lower chamber. …

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House Approves Bill to Halt Internet Access Taxes

The U.S. House has passed a bill to prohibit the imposition of taxes on Internet access, Reuters reported Tuesday. Kevin Drawbaugh writes the legislation would forbit state and local governments from implementing Internet connection taxes for 16 weeks. The Senate is set to decide on the Permanent Internet Tax Freedom Act following the …

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Treasury Seeks to Expand Research Tax Benefits

The Treasury Department wants to grow the number of businesses activities eligible for research tax breaks and apply some credits for production and supply costs, Reuters reported Thursday. Patrick Temple-West writes the proposed policy changes are intended to reduce the number of legal cases brought against the Internal Revenue Service by …

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Treasury Enlisting Intl Partners for Tax Info Sharing Agreement

The Treasury Department is discussing a pact with dozens of other countries where signees would report and share tax information, Reuters reports. Patrick Temple-West writes the Treasury officially listed 47 countries as partners in negotiations, but that nearly 50 countries and territories are in negotiations to govern how local businesses …

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Treasury: US to Reach Debt Limit Before Year Ends

The U.S. Treasury is $235 billion short of the $16.4 trillion borrowing limit and could reach that ceiling before the year ends, Reuters reports. Using emergency measures would avert a default and keep the government running through early 2013, according to Rachelle Younglai’s story. The Treasury said the government has …

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