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 ...

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.

24 March.Washington D.C., DC, USA
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

14 March.Washington D.C., DC, USA
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

13 March.Washington D.C., DC, USA
The stimulus payments are mandated under the recently passed American Rescue Plan. (Photo Credit: Representational Image/@Unsplash)

  • An individual earning up to $75,000 per year will be eligible for the payment
  • A typical family of four will receive $5,600, if they fit under the criteria
  • Physical cheques are likely to be dispatched later this month