New Delhi, Apr 9 (PTI) Income tax and corporate tax collections at Rs 9.45 lakh crore in the fiscal year ended March 31 exceeded the revised target by 5 per cent but were 10 per cent lower than ...
9 April
6 April
Washington, Apr 6 (PTI) US President Joe Biden has exuded confidence that his proposal to hike the corporate tax is unlikely to drive companies out of the country.
US Treasury Secretary Janet Yellen(Photo: Twitter/@JanetYellen)
- Biden is expected to soon propose a massive infrastructure package
- The president is under pressure in Congress to offset the costs of the infrastructure package
- Any new measures could face tough odds in Congress
18 March
Joe Biden had signed the $1.9 trillion economic stimulus package to help revive the US economy affected by the COVID-19 pandemic. (Photo Credit: Facebook Screengrab/The White House)
- Ohio Attorney General Dave Yost argued that the government was seeking to "commandeer" state taxing authority
- The lawsuit is the most serious legal salvo against the signature element of Biden's economic agenda
- The case is reminiscent of challenges to the Affordable Care Act
US President Joe Biden is yet to give a solid policy for taxes in America (Photo Credit: AFP)
- Members of the Democratic Party have previously demonstrated support for such tax policies
- Yellen noted that exceptionally low interest rates have greatly reduced the cost of government borrowing
- A previous proposal demanded a 2% tax rate for those having more than $50 million
The stimulus payments are mandated under the recently passed American Rescue Plan. (Photo Credit: Representational Image/@Unsplash)