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U.S. senator says working on companion bills to House antitrust measures
  + stars: | 2021-06-15 | by ( Diane Bartz | ) www.reuters.com sentiment -0.99   time to read: +1 min
Tasos Katopodis/Pool via REUTERS/File PhotoWASHINGTON, June 15 (Reuters) - Senator Amy Klobuchar, who chairs the Senate antitrust subcommittee, said that work is underway on companion legislation to antitrust bills introduced in the U.S. House of Representatives last week. While none of the four tech-focused House antitrust bills introduced Friday have a Senate companion, Klobuchar said late Monday that she expected that to change. "I think you'll see a number of bills introduced in the Senate," she said, but declined to elaborate. Two of the bills introduced last week address the issue of giant companies, such as Amazon.com Inc (AMZN.O) and Alphabet Inc's (GOOGL.O) Google, creating a platform for other businesses and then competing against those same businesses. A fourth would require platforms to allow users to transfer their data elsewhere if they desire, including to a competing business.
Persons: Sen, Amy Klobuchar, Tasos, Klobuchar, Diane Bartz Organizations: Privacy, Technology, U.S, Capitol, WASHINGTON, U.S . House, Amazon.com Inc, Google, Thomson Locations: Washington DC, U.S
WASHINGTON (Reuters) -U.S. Trade Representative Katherine Tai said on Thursday she will accompany President Joe Biden to Brussels next week for “intense negotiations” to try to resolve trade disputes over aircraft subsidies and steel and aluminum. FILE PHOTO: Katherine Tai, nominee for US Trade Representative speaks at the Senate Finance Committee hearing at the US Capitol in Washington, DC, U.S. February 25, 2021. “We’ll participate in intense negotiations to resolve the 16-year-old Boeing/Airbus disputes and to find a path forward on products like steel and aluminum,” Tai said, repeating her upbeat assessment of the talks thus far. “From my conversations so far, I am optimistic that we will be successful,” Tai told the event. Discussions about steel and aluminum tariffs are still in the early stages and will take longer to resolve, the source said.
Persons: Katherine Tai, Joe Biden, , Tasos, REUTERS Tai, “ We’ll, Tai, ” Tai, Biden, Organizations: WASHINGTON, . Trade, US Trade, Senate, REUTERS, AFL, Boeing, Airbus, EU, United Steelworkers, Reuters, Boeing Co Locations: Brussels, Washington , DC, U.S, China
New York prosecutors are investigating his taxes, and Georgia prosecutors his election influence. Trump reportedly faces two more grand jury investigations into whether he illegally pressured Georgia officials to rig the 2020 election results. Both present potential legal risks for Trump, although there's no evidence those prosecutors are currently targeting him. Trump has dismissed all allegations against him — in the criminal probes as well as a litany of civil ones — as politically motivated. Other recent moves from New York prosecutors appear to be focused on "flipping" Allen Weisselberg, the Trump Organization's chief financial officer and personal bookkeeper of the Trump family.
Persons: Donald Trump's, Trump, Rudy Giuliani's, Donald Trump, Cyrus Vance Jr, empaneled, Letitia James, it's, Vance, Joe Biden, , that's, Michael Cohen, Cohen, General's, Stormy Daniels, Jennifer Weisselberg, Allen Weisselberg, Weisselberg, Brad Raffensperger, Raffensperger, Brynn Anderson, Frances Watson, you'll, Fanni Willis, Trump's, Willis, Tasos Katopodis, Karl Racine, DC haven't, there's, Rudy Giuliani, Marie Yovanovitch, Giuliani, Biden, Volodymyr Zelensky —, Joshua Roberts, Lev Parnas, Igor Fruman, Victoria Toensing Organizations: Capitol, Prosecutors, Manhattan, New York, Trump, Trump Organization, Attorney's, Washington Post, AP, Fox, DC, Republican, Former New York, Getty Images, FBI Locations: York, Georgia, Rudy Giuliani's Ukraine, New York, Ukraine, Manhattan, Fulton County, Atlanta, Washington ,, Washington, trekked, Victoria
FOCUS-Greece banks on tourists for bad loan relief
  + stars: | 2021-05-18 | by ( Karolina Tagaris | ) www.reuters.com + 0.00   time to read: +6 min
The sector brought in revenue of 4 billion euros, less than a quarter of 2019’s 18 billion. ‘PROTECT WHAT I HAVE’While bad loan repayments have proceeded more smoothly than expected in the EU, the European Central Bank’s top supervisor Andrea Enria warned Greek banks this month the crisis was not over and lenders in general may be underestimating risks. What’s more, while Greek banks have made progress in shifting loan risk off their balance sheets through the government’s “Hercules” scheme that runs until late 2022, the debt problem remains. Hercules was launched in 2019 to help Greek banks offload bad loans by turning bundles of debt into asset-backed securities that can be sold to investors. That’s likely to grow with more bad loan securitisations in the pipeline from major banks such as Alpha, National Bank and Piraeus.
Persons: RHODES, , Rhodes, , Kakas, Manos Konsolas, moratoria, Ioannis Hatzis, “ It’s, ’ ”, Nicholas Magginas, Andrea Enria, Hercules, Tasos Panoussis, “ I’m, George Georgiopoulos, James Mackenzie, David Clarke Organizations: daisies, Bank of Greece, European Union, National Bank of Greece, Central, Credit, Alpha, National Bank Locations: Greece, Paris, Turkish, Rhodes, United States, Israel, Britain, Turkey, EU, Piraeus, Panoussis
Greece banks on tourists for bad loan relief
  + stars: | 2021-05-18 | by ( Karolina Tagaris | ) www.reuters.com + 0.00   time to read: +6 min
His anxious wait for tourists to return highlights a crucial test for Greek banks, still grappling with Europe's heaviest burden of bad debts and the legacy of the financial crisis. The sector brought in revenue of 4 billion euros, less than a quarter of 2019's 18 billion. 'PROTECT WHAT I HAVE'While bad loan repayments have proceeded more smoothly than expected in the EU, the European Central Bank's top supervisor Andrea Enria warned Greek banks this month the crisis was not over and lenders in general may be underestimating risks. Hercules was launched in 2019 to help Greek banks offload bad loans by turning bundles of debt into asset-backed securities that can be sold to investors. That's likely to grow with more bad loan securitisations in the pipeline from major banks such as Alpha (ACBr.AT), National Bank and Piraeus (BOPr.AT).
Persons: Louiza Vradi, Rhodes, Manos Konsolas, moratoria, Ioannis Hatzis, Kakas, Nicholas Magginas, Andrea Enria, Hercules, Tasos Panoussis, Panoussis, I'm Organizations: REUTERS, daisies, Bank of Greece, European Union, National Bank of Greece, Central, Credit, National Bank, Thomson Locations: Monastiraki, Athens, Greece, Paris, Turkish, Rhodes, United States, Israel, Britain, Turkey, EU, Piraeus
WASHINGTON — The Department of Homeland Security has begun implementing a strategy to gather and analyze intelligence about security threats from public social media posts, DHS officials said. They said DHS officials have been consulting with social media companies, private companies and nonprofit groups that analyze open-source social media data. DHS officials say that the counterterrorism case for analyzing social media is strong and that they believe social media can be a useful predictor of threats. "We do not, as the FBI, simply patrol social media looking for problems," he said. In a sense, DHS will now do just that, officials said — patrol public social media looking for intelligence pointing to threats.
Persons: WASHINGTON, Sarah Peck, Tasos Katopodis, Hugh Handeyside, Handeyside, Oren Segal, Joe Biden, John Cohen, Cohen, John Godfrey, Derek Chauvin, George Floyd, Adam Schiff, Christopher Wray, Schiff, it's, Wray Organizations: The Department of Homeland Security, U.S, Capitol, DHS, Twitter, Facebook, Capitol Police, American Civil Liberties Union, White House, Extremism, Defamation, FBI, National Guard, House Homeland Security, State, Capitol . Former FBI, NBC News, Intelligence Locations: Washington, U.S, Russia, Iran, Minneapolis
FILE PHOTO: Katherine Tai, nominee for US Trade Representative speaks at the Senate Finance Committee hearing at the US Capitol in Washington, DC, U.S. February 25, 2021. Tasos Katopodis/Pool via REUTERS/File PhotoWASHINGTON (Reuters) - U.S. Trade Representative Katherine Tai on Monday met virtually with top executives of drugmakers Pfizer and AstraZeneca PLC to discuss a proposed waiver of certain intellectual property rights in response to the COVID-19 pandemic. Democratic lawmakers, civil society groups, and 60 former heads of state and 100 Nobel Prize winners have urged President Joe Biden to back the waiver. Tai’s meetings with the Pfizer and AstraZeneca executives reflect her intense engagement on the issue, and follow similar meetings with advocacy groups, industry executives and others. USTR said Tai and Dobber discussed “increasing vaccine production, global health issues and the proposed waiver.”
Persons: Katherine Tai, Tasos, Joe Biden, Jen Psaki, Tai, Albert Bourla, ” USTR, Ruud Dobber, USTR, Dobber, Organizations: US Trade, Senate, WASHINGTON, . Trade, Monday, Pfizer, AstraZeneca PLC, World Trade Organization, Property, Democratic, White House Press, AstraZeneca, WTO Locations: Washington , DC, U.S, India, South Africa, United States
Trump's advisors are trying to convince him to make a PSA urging his followers to get vaccinated. Trump's senior advisors are urging him to make a PSA convincing his followers to get the COVID-19 vaccine. CNN reported that two former senior Trump administration officials, who were unnamed, said that Trump's hesitancy to help push vaccine rollout could hurt his legacy. This week, Trump endorsed vaccines in an interview with The New York Post, saying he was "all in favor of the vaccine." Trump's daughter, Ivanka Trump, recently shared pictures on Twitter of herself getting the vaccine, writing: "Today, I got the shot!
Persons: Trump, Trump's, It's, Joe Biden's, Tasos Katopodis, Hannity, Sean Hannity, I'd, Melania Trump, Ivanka Trump Organizations: Republican, CNN, Trump, Kaiser Family Foundation, PSA, Fox News, The New, Mar Locations: Trump, Washington ,, The New York
President Joe Biden is expected to propose raising the top federal capital-gains tax to 39.6%, from the current 20%, for millionaires. To that point, about 75% of investors own U.S. stock in accounts that aren't subject to capital-gains tax, according to a UBS research note published Friday. Paul Auslander director of financial planning at ProVise Management GroupThey include retirement accounts like individual retirement accounts and workplace retirement plans such as 401(k) plans. Remaining 25%The remaining 25% of investors hold stock in taxable brokerage accounts that would be subject to capital-gains tax. For example, UBS expects lawmakers to pass a 28% long-term capital-gains tax rate instead of 39.6%.
Persons: Joe Biden, Jill Biden, Tasos Katopodis, Paul Auslander, Biden's, Auslander, Biden Organizations: Getty, UBS, ProVise Management, Endowments, Families, Investors, Tax
Trump has long been anxious to get credit for the COVID-19 vaccines developed during his presidency. But Trump-voting counties show higher rates of vaccine hesitancy, Axios reported. Former President Donald Trump makes no secret of wanting to take credit for the existence of COVID-19 vaccines — but data shows his supporters are still less likely to want the shot. Trump has long been anxious that nobody forgets one of the biggest advances from during his presidency: the vaccines. "It could be that people who believe in Trump and voted for Trump don't want to get vaccinated.
Persons: Trump, Axios, Donald Trump, , Moderna —, Tasos Katopodis, Joe Biden's, Ashish Jha, Melania Trump, Tom Porter, Laura Ingraham, Sean Hannity, Tucker Carlson, Biden Organizations: Trump, Moderna, Lago, CDC, New York Times, CNN, Brown University School of Public Health, Fox, Fox News Locations: Washington ,, Cimarron County , Oklahoma, Trump
Dara Khosrowshahi prioritized fixing Uber's culture when he became CEO in 2017. His efforts have largely been successful, Uber employees and a Wall Street analyst told Insider. With Uber, Khosrowshahi could do something big. Justin Sullivan/Getty ImagesBy the time Huffington called Khosrowshahi, Uber was a mess. Insider spoke with 21 current and former Uber employees about Khosrowshahi's key decisions, and the ways Uber's internal culture has changed under him.
Persons: Dara Khosrowshahi, he's, Arianna Huffington, Recode, Huffington, Khosrowshahi, Travis Kalanick, — Daniel Ek, , Ek, Susan Fowler, Uber, Justin Sullivan, Lyft, Dan Ives, Ives, Uber's, Eric Holder, Mike Isaac's, nauseated, Kalanick, Liane Hornsey, Anushree Fadnavis, Reuters Khosrowshahi, Isaac, haven't, Tony West, West, Obama, Joe Sullivan, Sullivan, Tasos Katopodis, Sullivan's, it's, Ally Coll, Kate Parker, Dara, Richard Drew, Lisa Stoner, George Floyd, Derek Chauvin, Floyd, Dianna Jones, Jones, Black, Eric Risberg Organizations: Wall, Bloomberg, Wedbush Securities, Reuters, PepsiCo, New York Times, The Times, Uber, Department of Justice, Federal Trade Commission, Times, West, Black Locations: Expedia, Asia, Europe, Las Vegas, Manhattan, West, Khosrowshahi, Iran, California
Time and again during the Obama administration, Mr. Biden lost arguments to reduce the American presence to a minimal counterterrorism force. “We went to Afghanistan because of a horrific attack that happened 20 years ago,” Mr. Biden planned to say in his afternoon remarks, according to prepared excerpts. President Biden will visit Section 60 of Arlington National Cemetery after delivering his speech announcing an exit timeline for troops still stationed in Afghanistan. While Mr. Biden extended the deadline to September, the pullout of the United States and its NATO allies will be a massive blow to the Afghan security forces. Senators are also likely to raise prospects for continued violence in Afghanistan now that President Biden has decided to pull out troops by September.
Persons: Biden, John Moore, Antony J, Blinken, Annegret, , Mr, Biden’s, Donald J, Obama, , David E, Sanger, Steven Erlanger, Read, Damon Winter, Saifuddin Azizi, ” Karen Zraick, ” Avril B, Haines, Saul Loeb, cyberattacks, Christopher A, Wray, Mark Warner, William J, Burns, Paul M, Scott D, Kenny Holston, Michael A, Trump, Bolton, Luke Broadwater, Sheila Jackson Lee, John Conyers Jr, Anna Moneymaker, William A, Darity Jr, Cory Booker of, Roy L, Brooks, Critics, Philip Cheung, Janet L, pored, Lawrence H, Summers, Brandon Thibodeaux, Rachel Kyte, Barack Obama, Li Shuo, Kerry, Shuo, Johnson, Kamil Krzaczynski, , Rachael Piltch, Loeb, naysayers, Rupali J, Limaye, Vaccinators, Maulik Joshi, ” Jennifer Steinhauer, Madeleine Ngo, Hailey Fuchs, Sheryl Gay Stolberg, Carolyn Maloney, Ocasio, Rana Abdelhamid, Benjamin Norman, Alexandria Ocasio, Joseph Crowley, Jamaal Bowman’s, Eliot Engel, Carolyn B, Maloney, Abdelhamid, we’ve, Alexandra Rojas, Bernie Sanders, Cortez, Maloney’s, Suraj Patel, Abdelhamid’s, Kevin Brady of Texas, he’ll, Kevin Brady, Tasos Katopodis, Brady, I’ve, I’ll, ” Mr, Filemón Vela Organizations: Allies, NATO, U.S . Army, Getty, White House, ARD, Trump, Time, Administration, United, Arlington National, New York Times, Arlington National Cemetery, Credit, Lawmakers, Virginia Democrat, National Security Agency, Defense Intelligence Agency, Microsoft Exchange, Capitol Police, The New York Times, Capitol, Bolton, Democrat, Democratic, Duke University, Black, University of San, White, Treasury Department, Street, Treasury, Earth, , Biden, Fletcher School, Tufts University, United Nations, Nations, Greenpeace East, Agence France, School of Global Public Health, Pfizer, BioNTech, Johns Hopkins Bloomberg School of Public Health, Meritus, ., Justice, Democratic Socialists of, Justice Democrats, of, Congressional, Republican, Committee, , , 117th Locations: Afghanistan, China, Russia, Fort Drum, U.S, Kabul, America, Brussels, , Germany, American, Saigon, United States, warfighting, British, Arlington, Iraq, Ghazni, Iran, Texas, Michigan, Black, Cory Booker of New Jersey, University of San Diego, Los Angeles, Port Arthur , Texas, Brazil, India, Japan, Korea, Canada, Glasgow, Paris, Beijing, Greenpeace East Asia, Asia, Boao, Biden’s, Chicago, Moderna, Hagerstown, Md, New York, Democratic Socialists of America, Maloney’s, of New York, Manhattan, Queens, Brooklyn
Senate Finance Committee Chairman Ron Wyden, D-Ore., speaks at a Senate Finance Committee hearing at the U.S. Capitol on Feb. 25, 2021. The Pandemic Unemployment Assistance program, for example, offered aid to millions of workers like the self-employed who wouldn't have otherwise collected. Massachusetts, for example, paid $500 a week in benefits to the average worker in February, the most of any state, according to the Labor Department. Many states, especially in the South, cut taxes that fund unemployment benefits after the Great Recession and cut aid as a result. Louisiana, for example, currently caps benefits at about $250 a week.
Persons: Ron Wyden, Tasos Katopodis, wouldn't, it's, Wyden, we've, Andrew Stettner, didn't Organizations: U.S, Capitol, Getty, Lawmakers, Labor, Labor Department, Workers, Labor Department ., Center, Budget, Century Foundation Locations: Massachusetts, Labor Department . Louisiana, Louisiana
The House Oversight and Reform Committee approved a bill on Wednesday that would make Washington, DC, the country's 51st state. Those in favor of statehood argue that DC residents are being denied their most basic democratic right to representation in Congress. While Democrats now control the House, Senate, and White House, the bill likely remains doomed as its passage would require 60 votes in the Senate because of the chamber's filibuster rule. Members of the U.S. National Guard arrive at the U.S. Capitol on January 12, 2021 in Washington, DC. Democrats argue that Republican opposition to DC statehood is in part motivated by a broader right-wing campaign to disenfranchise Black and brown voters, who are disproportionately Democrats.
Persons: DC Del, Eleanor Holmes Norton, Carolyn B, Maloney, Washington —, Joe Biden, , Tasos Katopodis, Muriel Bowser, she's, it's, James Comer, Comer, Biden, Schumer, Pelosi, Jody Hice, hasn't, Richard Nixon, Drew Angerer, Gerry Connolly, " Connolly, Alexandria Ocasio, Cortez Organizations: Senate, DC, Republican, Democratic, White, Electoral, U.S . National Guard, U.S, Capitol, Guard, Republicans, Kentucky Rep, Democrat US, Georgia Republican, Metro, Republican Party, District of Columbia, Virginia Democrat, Rep Locations: Washington, DC, The Washington, United States, White, Washington ,, Vermont, Wyoming, America, Georgia, Virginia, U.S, Alexandria
U.S. House tax chief offers partial support for Biden infrastructure tax plan
  + stars: | 2021-04-01 | by ( David Morgan | ) www.reuters.com sentiment -0.78   time to read: +2 min
WASHINGTON (Reuters) - U.S. Representative Richard Neal, the top Democrat for tax policy in the House, offered only partial support on Thursday for President Joe Biden’s plan to finance his $2 trillion infrastructure plan by raising taxes on corporations. FILE PHOTO: Congressman Richard Neal (D-MA) speaks at the Senate Finance Committee hearing at the US Capitol in Washington, DC, U.S. February 25, 2021. Biden’s plan would raise the U.S. corporate income tax rate to 28% from 21% and make it harder for companies to use offshore tax shelters and other means to reduce their tax burdens. It already faces stiff opposition from Republicans and some resistance among Biden’s fellow Democrats, who narrowly control both the House and Senate. House Democrats say they hope to pass Biden’s infrastructure package by July 4.
Persons: Richard Neal, Joe Biden’s, Tasos, REUTERS Neal, ” Neal, Neal, , “ We’re, Janet Yellen, Organizations: WASHINGTON, Senate, REUTERS, Republican, House Democrats Locations: Washington , DC, U.S, Springfield , Massachusetts
Democrats want to provide monthly payments for parents, but the IRS faces challenges rolling out the program. The IRS commissioner recently said it may be a "challenge to get into monthly right out of the box." The beefed-up child tax credit from President Joe Biden's stimulus law has been touted by Democrats as a key measure designed to slash child poverty in half. Democrats want to enable the option of a monthly check — and they've been touting that, too. Rep. Suzan DelBene of Washington, another architect of the child benefit, echoed DeLauro.
Persons: Joe, they've, Biden, Charles Rettig, Elaine Maag, Maag, Samantha Jacoby, Jeffrey Jones, Aaron P, Bernstein, Rettig, We're, Rosa DeLauro, Connecticut, Suzan, Tasos, Jacoby, Barack Obama Organizations: IRS, Democrats, White, Internal Revenue Service, Center, Budget, Treasury, Affordable, Republican, Labor, Health, Human Services, Education, Democratic, House Democratic Locations: Washington, Washington , DC
WASHINGTON — President Joe Biden was elected on a promise to restore normality to the White House, but his presidency began Wednesday with a most unusual swearing-in, with most of the pomp stripped away by the necessity of circumstance. Guests at the 59th presidential inauguration in Washington on Jan. 20, 2021. Members of the National Guard look on as American flags decorate the "Field of Flags" at the National Mall during Joe Biden's inauguration at the Capitol on Jan. 20, 2021. As the inaugural ceremony got underway mere blocks away, the area along the National Mall was eerily quiet. And certainly not his transition to power, which faced unprecedented opposition from the outgoing president, who snubbed the ceremony.
Persons: Joe Biden, , Tim Ryan, Ronald Reagan, Jason Crow, Daniel Acker, Lady Gaga, Sen, Sheldon Whitehouse, Garth Brooks, Jennifer Lopez, Joe Biden's, Tasos, Biden, Barack Obama’s, caterers, , Obama, ” Whitehouse, Vicente González, Trump, ” Gonzalez, Tom Brenner, Obama’s, sidearms, , Gabriel Achemu, he's, ” Achemu, Donald Trump, Melania Trump, ” Biden Organizations: WASHINGTON, White, Ohio, Democrats, Capitol, Bloomberg, Getty, National Guard, , Trump, ” Military, Reuters, Washington, flapped, NBC News, Joint Base Andrews, Air Force, Democratic Locations: ” Washington, , Washington, Texas, Mardi, Americana, Nigeria, Base, Md, Iowa, New Hampshire
U.S. President Joe Biden reacts after being sworn in during his inauguration on the West Front of the U.S. Capitol, in Washington, U.S., January 20, 2021. It requires the most elusive of all things in a democracy: unity,” Biden, a Democrat, said after taking the oath of office. “We must end this uncivil war that pits red against blue, rural versus urban, conservative versus liberal. Top Republicans, including Vice President Mike Pence and the party’s congressional leaders, skipped Trump’s send-off and attended Biden’s inauguration instead. World leaders issued congratulatory statements, with several U.S. allies expressing relief at Biden’s inauguration after Trump’s unpredictable tenure.
Persons: Joe Biden, Tasos, Donald Trump’s, Biden, ” Biden, , Barack Obama, George W, Bush, Bill Clinton, Kamala Harris, Sonia Sotomayor, Trump, Mike Pence, , John Roberts, Obama, Harris Organizations: WASHINGTON, U.S, U.S . Capitol, Capitol, Republican, National Guard, Supreme, Democratic, House, White, Air Force, Top Republicans, ACTION Biden, U.S . Senate, Biden Locations: United States, Washington , U.S, America, U.S, Jamaica, India, American, Florida, North Korea, Iran, China, Paris, Washington
It requires the most elusive of all things in a democracy: unity,” Biden, a Democrat, said after taking the oath of office. “We must end this uncivil war that pits red against blue, rural versus urban, conservative versus liberal. Top Republicans, including Vice President Mike Pence and the party’s congressional leaders, skipped Trump’s send-off and attended Biden’s inauguration instead. World leaders issued congratulatory statements, with several U.S. allies expressing relief at Biden’s inauguration after Trump’s unpredictable tenure. Biden has vowed to bring the full weight of the federal government to bear on the crisis.
Persons: Joe Biden, Tasos, Donald Trump’s, Biden, ” Biden, , Barack Obama, George W, Bush, Bill Clinton, Kamala Harris, Sonia Sotomayor, Trump, Mike Pence, , John Roberts, Obama, Clinton, Biden’s, Harris Organizations: WASHINGTON, U.S, U.S . Capitol, Republican, National Guard, Supreme, Democratic, House, White, Air Force, Top Republicans, ACTION Biden, Arlington National Cemetery, U.S . Senate, Biden Locations: United States, Washington , U.S, America, U.S, Jamaica, India, American, Florida, North Korea, Iran, China, Arlington, Virginia, Paris, Washington
State and local tax breaks could be revived, but not without a fight
  + stars: | 2021-01-20 | by ( Andrew Osterland | ) www.cnbc.com sentiment -0.98   time to read: +1 min
Republicans and Democrats in the Senate finally came to an agreement on the coronavirus relief bill and a vote is expected on Monday. (Photo by Tasos Katopodis/Getty Images)Few issues illustrate the tortured calculus of tax policy in a hyper-partisan political environment better than the state and local tax deductions. The Tax Cuts and Jobs Act passed by a Republican Congress in 2017 put a $10,000 cap on federal deductions for state and local taxes paid. Republicans argued that the cap was necessary to finance other tax benefits in the bill, including lower personal income tax rates and a lower corporate tax rate. "The SALT cap was clearly politically motivated," said Corey Rosenthal, CPA, principal at CohnReznick, specializing in state and local tax issues.
Persons: Chuck Schumer, Nancy Pelosi, Tasos Katopodis, Corey Rosenthal Organizations: Capitol, Republicans, Democrats, Senate, Republican, Finance, Biden, Trump Locations: WASHINGTON, DC, Washington , DC, California, New York, CohnReznick
A retired New York City firefighter was charged in connection to the Capitol breach after texting his girlfriend's brother, a federal agent, a selfie showing him inside the building's rotunda during the riot, according to a criminal complaint. Jose Luis Magana/APThe special agent proceeded to text Fee, his sister's boyfriend, to ask him if he was in Washington, DC, according to the complaint. The complaint said that Fee responded by sending a selfie to the special agent, showing him inside the Capitol rotunda as other rioters waved flags and took pictures behind him. While the special agent initially deleted the communications, he was able to retrieve them and forward them to the DSS, according to the complaint. It is not clear if Fee was aware that his girlfriend's brother was a special agent when he sent the selfie and messages.
Persons: Thomas Fee, Fee's, Fee, State Department —, Donald Trump, Jose Luis Magana, Pelosi, Tasos Katopodis, Read, Trump, Joe Biden's, Biden Organizations: US Diplomatic Security Service, New York, New York Post, New, New York City Fire Department, Capitol, State Department, Facebook, Trump, DSS, Terrorism Task Force, US National Guard, NBC, Freeport Fire Department, WABC, FBI, National Guardsmen, DC, Guardsmen Locations: New, New York City, Washington , DC, NBC New York, Freeport, Long, Hurricane, Hempstead
Vice President-elect Kamala Harris takes the stage before President-elect Biden addresses the nation from the Chase Center November 07, 2020 in Wilmington, Delaware. Nadya Okamoto, 22, former candidate for city council in Cambridge, MassachusettsNadya Okamoto, PERIOD founder and former candidate for city council in Cambridge, MA. "Having served as Vice President-Elect Kamala Harris' Vermont campaign chair, I am a long-time admirer of her story, her determination and her inclusive vision of America. I am confident that Vice President-elect Kamala Harris will bring us together as we build a brighter future." Don't miss: The best credit cards for building credit of 2021 Check out: 5 Howard University women on Kamala Harris’ historic election and the impact of HBCUs
Persons: Kamala Harris, Biden, Donald Trump, Tasos Katopodis, Joe Biden, Harris, Shahana Hanif, Zainab Iqbal, Hanif, Sara Jacobs, EMILY's, Rachel Murray, Jacobs, Michelle Wu, Wu, we've, Nadya Okamoto, Cambridge , Massachusetts Nadya Okamoto, Mercedes Zapata, Okamoto, Kesha Ram, Ben DeFlorio Ram, Lauren Underwood, Colin Allred, Tom Williams, Underwood Organizations: Chase, Biden, Republican, American, South, South Asian, CNBC, New York, New York City, New, New York City Council, City Council, Getty, Boston City Council, Boston City, Mayor, Boston Globe, American Pacific, White, Vermont, Vermont Senate, CQ, U.S, Representative, Illinois, Black, Howard University Locations: Wilmington , Delaware, United States, American, Black, California, South Asian, U.S, Brooklyn's, New York, Los Angeles , California, San Diego County, America, Boston, Roslindale, Cambridge , Massachusetts, Cambridge, Vermont, Illinois, Texas
Protesters Who Fled Hong Kong Arrive in U.S., Seeking Asylum
  + stars: | 2021-01-16 | by ( Michael Forsythe | ) www.nytimes.com sentiment -0.99   time to read: +1 min
None of the five men wanted to be identified out of concern that it could endanger their relatives in Hong Kong. Image Samuel Chu, founder of the Washington-based Hong Kong Democracy Council. They believed that the United States offered the best chance for them to restart their lives, he said. After weeks of negotiations, the men were allowed entry into the United States on humanitarian grounds, Mr. Chu said. Their arrival in the United States could create further tensions between China and the United States, posing an early challenge for the incoming Biden administration just as relations between the two countries are at their lowest point in decades.
Persons: Samuel Chu, Tasos Katopodis, Chu, Biden Organizations: Hong Kong Democracy Council, Credit Locations: Hong Kong, Taiwan, United States, Washington, China
Wagy posted at length about his visit to Washington, DC on Facebook. AP Photo/Richard DrewWagy deleted his Facebook posts after Fight for 15 — a national labor organization — tweeted a screenshot of one of his posts. This week, Stand Up KC and a McDonald's franchisee who was disturbed by the posts shared screenshots of Wagy's Facebook with Insider. The Capitol siege has forced big business to reassess how it interacts with Washington, D.C. Another source with knowledge of McDonald's franchisees' thoughts on the matter said that some were dismayed by McDonald's decisions.
Persons: Jim Wagy, Trump, Wagy, McDonald's, baselessly, Biden, Antifa, Chris Kempczinski, Richard Drew Wagy, , Kempczinski, Mark Salebra, Forbes, it's, Donald Trump, Tasos Katopodis, Steve Easterbrook, Read, Joe Erlinger, George Floyd, Katie Beirne, Tweet Wagy Organizations: Trump, McDonald's Corporation, Facebook, EPIC, DC, Capitol, Washington D.C, KC, Business, McDonald's National, Leadership Alliance, National, D.C, Deutsche Bank to Girl Scouts, Chicago Tribune, Washington Post, Social, Warriors, Equity Research, BLM, New York Times Locations: Washington , DC, Washington, Washington ,, Missouri, Kansas, DC, McDonald's, McD's, America, Chicago, Maryland, Easterbrook, Minneapolis
Before the US Capitol's riot, President Trump considered using the National Guard to defend his supporters, The New York Times reported. The National Guard was ultimately deployed, but to force the rioters out rather than protect them. President Donald Trump considered using the National Guard to protect the crowd of his supporters who went on to ransack the US Capitol, according to The New York Times. Citing his advisers, the Times said that Trump considered making the National Guard available to protect his supporters from counterprotesters. John Minchillo/APAs the riot continued, there were calls to deploy the National Guard to stop the Trump supporters.
Persons: Trump, Donald Trump, Trump's, Tasos Katopodis, Joe Biden, Mike Pence, John Minchillo Organizations: National Guard, The New York Times, Times, Capitol, Trump, Capitol Police, CNN, Congress Locations: counterprotesters
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