With President Trump's tax reform bill now signed into law, some major U.S. corporations may now be prompted to bring back their cash from abroad. Raw Story Staff Writer Elizabeth Preza and CRTV Congressional Correspondent Nate Madden explain how people and businesses are reacting to the new tax policy.
"You're going to see an influx of some companies bringing assets back," says Madden. "They've gotten a one-time break on this, so they can move it without taking a tax hit." Corporations bringing more investments to the United States aligns with President Trump and the GOP's message on jobs says Madden.
Preza says it's important to look at the impact on jobs through previous corporate tax cuts like the one in 2004 enacted by the Bush administration. "The Congressional Research Service found that, instead of using money to invest back into the company, [corporations] really paid out shareholders and gave it back to themselves," says Preza.
Hunter Biden has been indicted on nine tax charges in California as a special counsel investigation into the business dealings of President Joe Biden’s son intensifies against the backdrop of the looming 2024 election.
The police department in the remote north woods Minnesota town of Ely faces the same challenges of recruiting and keeping new officers as countless other law enforcement agencies across the country. So it's offering a unique incentive: canoes.
A Texas judge on Thursday granted a pregnant woman permission to obtain an abortion in an unprecedented challenge to the state’s ban that took effect after Roe v. Wade was overturned last year.
