Chris Cioffi

6 days ago | news.bgov.com | Jack Fitzpatrick |Ken Tran |Maeve Sheehey |Chris Cioffi

Republicans seeking a bigger tax deduction for constituents in high-tax states need to make a specific offer and stop holding up President Donald Trump’s agenda, even if it risks the party’s control of the House, a GOP leadership member said Thursday. Rep. Kevin Hern (R-Okla.) invoked Ronald Reagan, Nancy Pelosi, and love of country as he urged Republicans to rally around a tax plan, in an exclusive Bloomberg Government roundtable on Thursday morning.

1 week ago | news.bloombergtax.com | Lauren Vella |Chris Cioffi

Senate Finance Committee member Thom Tillis (R-N.C.) introduced a bill that would prevent companies’ taxes on income they earn abroad from spiking next year. The International Competition for American Jobs Act, filed May 6, is an expansion of legislation introduced by former Sen. Rob Portman (R-Ohio) in 2022, and includes beneficial tweaks to tax on foreign-earned income that have been on companies’ wishlist for the massive tax bill that’s under consideration in Congress.

1 week ago | news.bloomberglaw.com | Lauren Vella |Chris Cioffi

Senate Finance Committee member Thom Tillis (R-N.C.) introduced a bill that would prevent companies’ taxes on income they earn abroad from spiking next year. The International Competition for American Jobs Act, filed Tuesday, is an expansion of legislation introduced by former Sen. Rob Portman (R-Ohio) in 2022, and includes beneficial tweaks to tax on foreign-earned income that have been on companies’ wishlist for the massive tax bill that’s under consideration in Congress.

1 week ago | news.bgov.com | Katherine Rizzo |Erin Schilling |Chris Cioffi

All Eyes on Powell, AgainIf the economists and Wall Street experts are right, today will build on President Donald Trump’s frustration with Federal Reserve Chairman Jerome Powell. While the Fed has more than one part of the economy to keep an eye on — employment, inflation, and avoiding recession are all concerns — Trump’s been focusing on the benchmark interest rate, which has stayed steady for months. “NO INFLATION, THE FED SHOULD LOWER ITS RATE!!!” he posted late last week on Truth Social.

1 week ago | news.bloombergtax.com | Erin Schilling |Chris Cioffi

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