Despite the popularity of liberal policy ideas, voters said in interviews that an incremental approach had a better chance of success. Source: NYT > Business – Jim Tankersley and Ben Casselman
Foreign-Owned Banks’ Results Could Sweeten Further Under Tax Law
Large U.S. financial institutions reaped a windfall from the 2017 Trump tax cuts. Now foreign banks are pushing for favorable treatment from Treasury. Source: NYT > Business – Jim Tankersley and Peter Eavis
Senate Approves Tax Treaties for First Time in Decade
Pressure from business groups — and the triumph of Senator Mitch McConnell of Kentucky over his junior partner, Rand Paul — spurred lawmakers to approve updates to the international treaties. Source: NYT > Business – Jim Tankersley
Big Banks Are Earning Billions of Dollars. Trump’s Tax Cuts Are a Big Reason.
The five largest United States banks reported tax rates of 22 percent or less for the second quarter this year. Lower taxes helped smooth over earnings rough spots. Source: NYT > Business – Emily Flitter
How a Tax Loophole Is Helping Silicon Valley Workers Save Millions
A little-known tax break allows some start-up employees who own company stock to avoid paying taxes on up to $10 million when they sell their shares. Source: NYT > Business – Paul Sullivan
As Nations Look to Tax Tech Firms, U.S. Scrambles to Broker a Deal
The proposed levies on firms like Facebook and Google are pitting traditional allies against one another and threatening to set off a cascade of tax increases and tariffs. Source: NYT > Business – Jim Tankersley and Alan Rappeport