Corporate taxes

With accounts flush, budget talks come down to schools aid

By MARC LEVYJune 24, 2022 GMT

HARRISBURG, Pa. (AP) — With a week to go until the state's budget deadline, Gov. Tom Wolf and leaders of the Republican-controlled Legislature are working through their remaining differences as they try to produce an agreement on a roughly $42 billion budget plan that they say will marshal substantial new aid for Pennsylvania’s public schools and environmental cleanups while cutting corporate taxes.

Pennsylvania Senate pushes plans to cut corporate taxes

June 15, 2022 GMT

HARRISBURG, Pa. (AP) — Pennsylvania's Senate approved two competing plans Wednesday to slash the state's corporate net income tax rate, although Democrats warned the bills are premature because there is no agreement with Gov.

Business Highlights: McDonald’s Russia exit,

By The Associated PressMay 16, 2022 GMT

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De-Arching: McDonald’s to sell Russia business, exit country

CHICAGO (AP) — McDonald’s says it’s started the process of selling its Russian business, which includes 850 restaurants that employ 62,000 people.

A Bezos-Biden squabble: Can corporate taxes tame inflation?

By CHRISTOPHER RUGABERMay 16, 2022 GMT

WASHINGTON (AP) — Jeff Bezos this weekend became the latest centibillionaire to launch a political fight on Twitter by denouncing a tweet from President Joe Biden about corporate taxes as “disinformation” and "misdirection."

Iowa GOP tax cut plans raise concerns about long-term impact

By DAVID PITTFebruary 5, 2022 GMT

DES MOINES, Iowa (AP) — Republicans have released three plans to cut taxes in Iowa and all share the common themes of phasing in a flat personal income tax and eliminating taxes on retirement income at a cost of billions of dollars to state revenue.

Maine senator backs plan to make sure corporations pay taxes

October 30, 2021 GMT

BRUNSWICK, Maine (AP) — Maine's independent senator has joined with Democrats on a proposal to stop large corporations from avoiding federal taxes.

Sen. Angus King is working with Democrats including Sen.

$205M is first deposit in Louisiana fund aimed at stability

By MELINDA DESLATTEOctober 18, 2021 GMT

BATON ROUGE, La. (AP) — Louisiana collected enough business taxes during the last budget year to deposit the first $205 million into a never-used, five-year-old trust fund created to curb the state's boom-and-bust cycles of budgeting.

In GOP stronghold, Biden pushes for his infrastructure plan

By JOSH BOAK and JONATHAN LEMIREMay 6, 2021 GMT

LAKE CHARLES, La. (AP) — With a badly aging bridge as his backdrop, President Joe Biden stood in reliably Republican Louisiana on Thursday to pressure GOP lawmakers to support his $2.3 trillion infrastructure plan — and yet express a willingness to compromise on the corporate tax hikes he's recommending to pay the cost...

AP FACT CHECK: Biden’s job inflation on infrastructure

By CHRISTOPHER RUGABER and HOPE YENApril 6, 2021 GMT

WASHINGTON (AP) — President Joe Biden and his team have offered a vastly inflated projection of how many jobs his infrastructure plan would create, an account his press secretary corrected Tuesday...

Bezos endorses higher corporate taxes for infrastructure

By KEVIN FREKINGApril 6, 2021 GMT

WASHINGTON (AP) — Amazon founder and CEO Jeff Bezos endorsed President Joe Biden’s focus on building up the country’s infrastructure Tuesday and said the company even supports a corporate tax rate hike to help pay for it...

A closer look at Biden’s infrastructure and tax proposals

By The Associated PressApril 1, 2021 GMT

President Joe Biden says his proposal for an aggressive series of infrastructure investments would require $2...

A closer look at Biden’s infrastructure and tax proposals

By The Associated PressMarch 31, 2021 GMT

President Joe Biden says his proposal for an aggressive series of infrastructure investments would require $2...

Lawyer: Trump’s delay moves over taxes harms probe of others

By LARRY NEUMEISTERJuly 16, 2020 GMT

NEW YORK (AP) — President Donald Trump’s efforts to stall the release of his personal and corporate taxes to a New York state grand jury is jeopardizing the criminal probe of other individuals and entities and could “kill this case," an attorney told a judge Thursday in urging fast action...

Corporate tax hike would do more harm than good

Staff WriterMarch 17, 2019 GMT

The biggest problem with the proposed tax hikes in Illinois is flying under the radar.

The stealth bomb in the proposed tax increases from Gov. J. B. Pritzker is his call to raise the corporate income tax from 7 to 7.95 percent.

GOP betting that its fix for US economy will defy warnings

By PAUL WISEMANDecember 17, 2017 GMT

WASHINGTON (AP) — The tax overhaul of 2017 amounts to a high-stakes gamble by Republicans in Congress: That slashing taxes for corporations and wealthy individuals will accelerate growth and assure greater prosperity for Americans for years to come.

Commuters lose transit, parking, biking benefits in tax bill

By JOAN LOWYDecember 15, 2017 GMT

WASHINGTON (AP) — Count commuters among the losers in the Republican tax bill that the House and Senate are expected to vote on next week...