Latest Corporate taxes News

Shoe company exec to plead guilty to embezzling $30M

Apr. 14, 2021 16:13 PM EDT

BOSTON (AP) — A former top executive at a Massachusetts-based shoe manufacturer has agreed to plead guilty to embezzling $30 million from the company, federal prosecutors said Wednesday. Richard Hajjar, 64, the former chief financial officer of Alden Shoe Co., agreed to...

Hagerty talks elections with Trump after affirming Biden win

Apr. 08, 2021 18:52 PM EDT

NASHVILLE, Tenn. (AP) — In his first week, Tennessee's freshman U.S. Sen. Bill Hagerty watched in horror as the Capitol riots unfolded around him and decided to back down from his plans to oppose the electoral college results that affirmed President Joe Biden's win despite then-President...

G20 working for deal on international corporate tax by July

Apr. 07, 2021 22:32 PM EDT

MILAN (AP) — Italy’s finance minister said Wednesday that Group of 20 advanced economies hope by a ministerial meeting in July to have reached an agreement on international taxation, an issue being pressed by U.S. Treasury Secretary Janet Yellen. While international...

Biden open to compromise on infrastructure, but not inaction

Apr. 07, 2021 21:52 PM EDT

President Joe Biden drew a red line on his $2.3 trillion infrastructure plan Wednesday, saying he is open to compromise on how to pay for the package but inaction is unacceptable. The president turned fiery in an afternoon speech, saying that the United States is failing...

Major economies support $650 billion boost in IMF resources

Apr. 07, 2021 18:28 PM EDT

WASHINGTON (AP) — Finance officials of the world’s major economies on Wednesday agreed on a proposal to boost the resources of the International Monetary Fund by $650 billion as a way to provide more support to vulnerable countries struggling to deal with a global pandemic. ...

AP FACT CHECK: Biden's job inflation on infrastructure

Apr. 07, 2021 16:08 PM EDT

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. Biden has also drifted beyond the facts when dismissing the potential downsides of the tax...

Millionaires in NYC set to face highest tax rate in US

Apr. 07, 2021 14:00 PM EDT

ALBANY, N.Y. (AP) — The highest-earning New Yorkers would face the nation's steepest income tax rate under a budget lawmakers expected to vote on and pass Tuesday. It would serve as a win for the Democratic party's left wing, who say that millionaires in Manhattan...

Bezos endorses higher corporate taxes for infrastructure

Apr. 07, 2021 13:54 PM EDT

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. Bezos’ statement, posted on the...

Editorial Roundup: Illinois

Apr. 07, 2021 10:57 AM EDT

Arlington Heights Daily Herald. April 2, 2021. Editorial: The lead in Illinois’ drinking water U.S. senators Tammy Duckworth and Dick Durbin are pushing for the Environmental Protection Agency to strengthen safe drinking water protections in...

Biden boosted by Senate rules as GOP bucks infrastructure

Apr. 06, 2021 00:28 AM EDT

WASHINGTON (AP) — With an appeal to think big, President Joe Biden is promoting his $2.3 trillion infrastructure plan directly to Americans, summoning public support to push past the Republicans lining up against the massive effort they sum up as big taxes, big spending and big government....