Lynnley Browning

Senate Bill ‘Bombshell’ Could Raise Taxes on Tech

A last-minute change that U.S. senators made to their tax bill before passing it early Saturday morning would result in higher-than-intended taxes for technology firms and other corporations, tax experts said.

House Bill Means Higher Taxes for Many in Year 10, Analysis Says

The House tax bill would mean lower taxes for all income groups on average next year, though the largest benefits would go to higher-income taxpayers -- and roughly 12 percent of U.S. taxpayers would see their tax bills increase, according to a study by a Washington policy group.

Killing the BAT Solved One Problem. It May Create Several

Republican leaders billed their decision to abandon a controversial plan to tax companies’ domestic sales and imports as an essential step toward uniting their efforts to overhaul the U.S. tax code -- but its death adds new complications to an already intricate task.

Trump’s Corporate Tax Rewrite Faces Major Obstacle: Its Cost

President Donald Trump offered corporate America a sweeping tax vision whose ultimate promise of lower rates and more global competitiveness depends on one thing: longevity. Given the plan’s uncertain costs, longevity may be one thing the proposal can’t deliver.

Trump’s Plan Can Cut Taxes, But Only Temporarily

President Donald Trump has promised a “massive” tax cut for Americans. He may be able to achieve it -- but only temporarily, if the changes can’t meet the criteria needed by lawmakers to make permanent changes.

Mnuchin Says Tax Overhaul Will Happen by Year's End

The Trump administration is aiming to complete the biggest overhaul of the tax code since President Ronald Reagan by the end of the year, even if a second attempt to repeal the Affordable Care Act fails, according to Treasury Secretary Steven Mnuchin.

House Chairman Says Border Tax Plan Would Survive EU Challenge

A news report that the European Union and other U.S. trading partners are preparing to challenge House leaders’ proposal to overhaul U.S. corporate taxes spurred the plan’s leading congressional advocate to declare that it would survive “any challenge that they bring.”

Tillerson’s Exxon-Ethics Plan Has $72 Million Tax Advantage

The exit package Exxon Mobil Corp. has agreed to pay Rex Tillerson if he’s confirmed as secretary of state is structured to preserve roughly $180 million in deferred compensation for him -- and might let him avoid an immediate federal income tax bill of as much as $72 million, according to tax specialists who have reviewed the plan.

Koch Industries Says House GOP’s Tax Plan ‘Could Be Devastating’

Koch Industries Inc., the influential private firm headed by billionaire Republican supporters Charles and David Koch, slammed a key element of the House Republicans’ plan to overhaul corporate taxes, saying it would raise prices for American consumers and “could be devastating” to the economy.

Trump Tax Plan Seen Adding Jobs, Then Erasing Them Long-Term

Donald Trump’s proposed tax plan could provide a short-term boost to the economy before costing more than 690,000 jobs over a decade, while Hillary Clinton’s plan could send job-creation in the opposite direction -- first down, then up, according to a new policy report.

U.S. Adjusts Rules Limiting Corporate ‘Earnings Stripping’

The U.S. Treasury Department softened new rules aimed at preventing multinational companies from shifting their profits offshore to lower-tax countries -- a response to sustained criticism from big business and from members of Congress, who’d asked that they be delayed and scaled back.

Trump’s Tax Plan Seen Turning Employees Into Contractors

Donald Trump’s proposal to offer all businesses a flat 15 percent income-tax rate would prompt workers to try to cut their tax bills by turning themselves into “self-employed” contractors -- without leaving their current employer -- according to a tax-policy group’s report.