Laura Davison
BNN Bloomberg
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Past articles by Laura:
World's richest face tax blow after 40% wealth surge to $8.4T
Amazon.com Inc. founder Jeff Bezos has the resources to launch himself into space. Elon Musk does, too. → Read More
Biden floats 15% minimum corporate tax in infrastructure talks
President Joe Biden has pitched to Republicans the idea of a 15 per cent minimum tax on U.S. corporations, along with strengthened IRS enforcement efforts, as a way to fund a bipartisan infrastructure package. → Read More
U.S. Treasury calls for crypto transfers over US$10,000 to be reported to IRS
The U.S. Treasury said the Biden administration’s proposal to strengthen tax compliance includes a requirement for transfers of at least US$10,000 of cryptocurrency to be reported to the Internal Revenue Service. → Read More
What financial advisers are telling rich clients about Biden's tax hike
President Joe Biden’s proposal to roughly double the capital-gains tax for the rich has put financial advisers in the unusual position of acting as part therapist and part fortune teller. → Read More
Biden tax proposal would kick in at over US$500,000 for couples
President Joe Biden’s proposed income tax increases for the wealthy would hit individuals earning more than US$452,700 in 2022 and married couples making at least US$509,300, according to a White House official. → Read More
Biden aims at top 0.3% with bid to tax capital gains like wages
President Joe Biden wants to end the preferential U.S. tax treatment of investment income that has benefited the nation’s wealthy as he seeks to fund a sweeping new social-spending program. But he will need to overcome a major political hurdle in Congress to do so. → Read More
Biden eyeing capital gains tax as high as 43.4 per cent for wealthy
President Joe Biden will propose almost doubling the capital gains tax rate for wealthy individuals to 39.6 per cent, which, coupled with an existing surtax on investment income, means that federal tax rates for investors could be as high as 43.4 per cent, according to people familiar with the proposal. → Read More
Powell says uneven global vaccination rollout is recovery risk
Federal Reserve Chair Jerome Powell said disparate efforts to vaccinate people globally is a risk to progress for the economic rebound. → Read More
Yellen sees tax plan reclaiming US$2 trillion in overseas profits
Treasury Secretary Janet Yellen unveiled a detailed sales pitch for the Biden adminstration’s proposed new corporate-tax code, a plan that she said would be fairer to all Americans, remove incentives for companies to shift investments and profit abroad and raise more money for critical needs at home. → Read More
Biden tax plan seen hitting tech, pharma companies
The tax plan President Joe Biden laid out last week will likely hit technology and pharmaceutical companies particularly hard, although the challenge for legislators will be to minimize loopholes that could diminish the impact, tax experts said. → Read More
Intel, Ford urge tax benefits for chips, domestic manufacturing
Foreign producers of semiconductors, electric car batteries and pharmaceuticals will continue to squeeze U.S. manufacturing unless Congress provides more incentives for domestic production, representatives from Intel Corp. and Ford Motor Co. said Tuesday. → Read More
Biden eyes first major tax hike since 1993 in next economic plan
President Joe Biden is planning the first major federal tax hike since 1993 to help pay for the long-term economic program designed as a follow-up to his pandemic-relief bill, according to people familiar with the matter. → Read More
House panel clears US$1,400 stimulus payments, family tax credits
The House Ways and Means Committee advanced legislation that would infuse households with hundreds of billions of dollars of cash through direct payments and tax credits, a key plank of President Joe Biden’s Covid-19 relief package. → Read More
Democrats advance US$400-a-week jobless aid, key relief-bill plank
The House Ways and Means Committee on Wednesday advanced a key portion of President Joe Biden’s COVID-19 relief package -- a US$400 weekly supplement to unemployment benefits through the end of August. → Read More
House Democrats unveil first draft of stimulus-bill measures
House Democrats on Monday released the first draft text for key pieces of legislation that will comprise President Joe Biden’s Covid-19 relief bill. → Read More
U.S. PPP loans reach US$72.7 billion in new round with big lenders
The number of Paycheck Protection Program loans to U.S. small businesses more than doubled in the third week of the latest round of pandemic relief aid, as Bank of America Corp. and JPMorgan Chase & Co. each processed more than US$1 billion in funding. → Read More
Senate GOP blocks attempt to pass US$2,000 stimulus checks
Senate Republicans on Tuesday blocked an attempt by Democrats to increase direct stimulus payments in the newly enacted COVID-19 relief bill from US$600 to US$2,000, bucking President Donald Trump who demanded the change. → Read More
U.S. House backs Trump on US$2,000 cheques, daring Senate to follow
The House on Monday passed a bill replacing the US$600 stimulus cheques in the newly enacted virus relief bill with US$2,000 payments, as Democrats and moderate Republicans voted in favor of a proposal backed by President Donald Trump. → Read More
McConnell, GOP face double split with Trump over relief, defense
Congressional Republicans, led by Senate Majority Leader Mitch McConnell, face high-stakes decisions in coming days over two giant pieces of bipartisan legislation that President Donald Trump savaged this week. → Read More
Marijuana legalization bill passes House; Senate vote unlikely
The House voted Friday for the first time to legalize marijuana at the federal level, but the bill has little chance of being considered in the Republican-controlled Senate. → Read More