US Chamber applauds Sinema, attacks stock buyback tax
The U.S. Chamber of Commerce on Friday cheered Sen. Kysten Sinema (D-Ariz.) for softening her party’s corporate minimum tax measure but criticized a new stock buyback tax proposal included in the Inflation Reduction Act. In a deal to appease Sinema, Senate Democrats on Thursday evening agreed to modify the 15 percent minimum corporate tax so that manufacturers can take advantage of accelerated depreciation rules to buy equipment. They also agreed to gut changes to carried interest taxes — a win for private equity executives — and enact a 1 percent excise tax on stock buyback
Read MorePelosi was right to go to Taiwan — China’s threats are hollow
The White House seems to be making a habit of self-deterrence. It ordered the premature departure from the Bagram Air Base in Afghanistan out of fear that the Taliban would interfere with the August 2021 withdrawal of American forces from that country. As a result, fleeing Afghans had but one option: to travel to Kabul Airport with its single runway, and far too many of them were left behind. Similarly, the administration held o
Read MoreRising health care costs, inflation lead Americans to skip or delay treatment
Story at a glance Rising inflation and health care costs are straining Americans’ pursestrings when it comes to paying for care and prescription medication. New results of a West Health-Gallup poll show the majority of participants have little faith in the government to lower the cost of care. However, the Inflation Reduction Ac
Read MoreWatch live: Senate GOP holds briefing to push back on Democratic spending
NOW: Senate Republicans discuss the Democrats' scam to raise taxes on all Americans and slash U.S. energy. https://t.co/bZ0AR0J6u9— Senate Republicans (@SenateGOP) August 5, 2022 Several Republican senators
Read MoreChina halts climate, military cooperation with US over Pelosi visit
The Chinese Ministry of Foreign Affairs on Friday said that the country would halt its cooperation with the U.S. over military and the climate in response to Speaker of the House Nancy Pelosi’s (D-Calif.) trip to Taiwan. The ministry announced eight “countermeasures” against Pelosi after she visited Taiwan “in disregard of China’s strong opposition and serious representations.” China will no longer take part in the previously planned China-U.S. Theater Commanders Talk, Defens
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