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Senators say Twitter could reap $154 million tax break
Sens. Carl Levin (D-MI) and John McCain (R-AZ) fingered Twitter as the latest Silicon Valley poster child of corporate tax avoidance, in this case through stock options that are likely to be granted when the high-flying social media company makes its IPO debut Thursday. Levin, chair of the Senate Permanent Subcommittee on Investigations, and McCain, […] …
Rand Paul jumps to Apple’s defense
Sen. Ran Paul, the Kentucky Republican and libertarian, Tuesday defended Apple’s tax machinations, saying he was “offended” that Apple CEO Tim Cook was being “dragged” before the Senate’s Permanent Subcommittee on Investigations to explain how the company could attribute nearly two thirds of its income to Irish entities that have no employees, no physical residence, …
Solar chief argues for natural gas exports
With a huge fight heating up over whether to allow exports of U.S. natural gas, California solar executive Arno Harris argued that allowing exports would help the solar industry and reduce global carbon emissions. The U.S. shale-gas boom (fracking) has up-ended global energy markets, lowering energy costs in the U.S. and promising to make the […] …
Van Hollen: Boehner stringing out ‘fiscal cliff’ talks because of GOP politics
Rep. Chris Van Hollen, D-Maryland, said Speaker of the House John Boehner might have to bring a plan to the table that could pass without majority support from the Republican caucus, but he expressed concern as to whether Boehner would make such a move before the official vote for Speaker on Jan. 3 …
Dianne Feinstein willing to look at mortgage interest deduction
Even as we watch the spectacle of Republicans throwing anti-tax activist Grover Norquist under the bus (it started the day after the election with House Speaker John Boehner putting revenue on the table), some Democrats are eying other sacred cows. In a telephone interview before her re-election, Sen. Dianne Feinstein said she would support scaling […] …
Big buzz on carbon taxes
The Washington policy machine is all atwitter with the idea that the carbon tax’s time has come. It is an elegant three-run homer that would tackle climate change, tax reform and the budget deficit in one fell swoop. It would meet the conservatives’ quest for consumption taxes, the liberals’ quest for new revenues and the […] …
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