US plan for taxing multinationals boosts chances of global deal
CNN
For years, world leaders have been trying to launch a historic overhaul of global tax rules, aiming to tackle an unwieldy system rife with loopholes long exploited by big business. That goal may finally be in sight.
The Biden administration's decision to back a global minimum corporate tax rate while it pushes a massive $2 trillion infrastructure package in the United States has ignited hopes that a long-elusive agreement can be reached this summer. A US proposal, first reported by the Financial Times, that would see the taxes of the biggest multinational companies shared among the countries where they operate could provide further impetus. "What we see this year is an acceleration in the process," Italian Finance Minister Daniele Franco told reporters following a meeting of G20 finance ministers and central bank governors on Wednesday. He said the group is working to come to an agreement by July. Earlier this week, French Finance Minister Bruno Le Maire said "an agreement on international taxation is now within reach."
After rarely being seen in public in the two weeks since he delivered a brief, 46-second victory speech on election night, JD Vance reemerged this week to play one of the most important roles he will be expected to fill as Donald Trump’s No. 2: His point person on Capitol Hill.
A Florida man was arrested Wednesday and charged in a plot to bomb the New York Stock Exchange this week, according to the FBI.
The Senate on Wednesday voted down an effort led by Vermont independent Sen. Bernie Sanders to block a series of planned US weapons sales to Israel.
Republicans on the House Ethics Committee fell in line behind GOP leaders and voted not to release the results of their investigation into Donald Trump’s attorney general pick, Matt Gaetz, despite growing calls from the Senate GOP to make the findings public ahead of his confirmation hearing.
Senate Democrats have confirmed some of President Joe Biden’s picks for the federal bench this week in the face of President-elect Donald Trump’s calls for a total GOP blockade of judicial nominations – in part because several Republicans involved with the Trump transition process have been missing votes.
A former University of Virginia student pleaded guilty Wednesday to fatally shooting three football players and wounding two other students on the Charlottesville campus in 2022.
Donald Trump is considering a right-wing media personality and people who have served on his US Secret Service detail to run the agency that has been plagued by its failure to preempt two alleged assassination attempts on Trump this summer, sources familiar with the president-elect’s thinking tell CNN.
The United States has vetoed a UN Security Council resolution that called for an immediate, unconditional and permanent ceasefire in Gaza, on the grounds it would not have secured the release of hostages.
A Democratic election official in Pennsylvania offered an impassioned apology Wednesday for claiming “precedent by a court doesn’t matter anymore in this country” to justify counting about 600 faulty ballots in defiance of state Supreme Court rulings.
On one side of the Capitol, Republican Rep. Nancy Mace vowed to “stand in the way” of Democratic Rep.-elect Sarah McBride, the first out transgender woman elected to Congress, using women’s bathrooms in the US Capitol.
President-elect Donald Trump has chosen Matthew Whitaker, who served as acting attorney general during Trump’s first term, as his pick to be US ambassador to NATO.