US businesses and wealthy universities scored major wins in the Senate Republicans’ version of President Donald Trump’s tax bill, while low-income Americans and clean energy providers are poised to be hit the hardest. The Senate bill has already sparked backlash from various GOP factions and several provisions threaten the fragile coalition that squeaked the legislation … Read more
U.S. President Donald Trump would have the power to retaliate against countries that impose special digital service taxes on large U.S. technology companies like Amazon and Alphabet, under a provision in the sweeping tax bill that Congress is considering. “If foreign countries want to come in the United States and tax US businesses, then those … Read more
The U.S. dollar was soft on Friday, poised to make its first weekly drop in five weeks against the euro and the yen as worries over the United States’ worsening fiscal health sent investors scurrying for safe havens. After Moody’s last week downgraded its U.S. debt ratings, investor attention this week has honed in on … Read more