Obama looking to stop business tax inversions
WASHINGTON – Aiming to sidestep a logjam in Congress, the Obama administration is looking for steps it could take on its own to prevent American companies from reincorporating overseas to shirk U.S. taxes, officials said Tuesday.
President Barack Obama has denounced so-called tax inversions as unpatriotic and has urged Congress to stop them, in an election-year push that Democrats hope will appeal to middle-class voters who feel corporate America isn’t paying its fair share. But Republicans and Democrats disagree about the best solution, rendering congressional action this year unlikely.
The Treasury Department said that while only legislation can fully fix the problem, the Obama administration was searching for ways to provide a partial fix, warning that corporate inversions are actively eroding the U.S. tax base.
Storms help firefighters battling two blazes
BURNEY, Calif. – Thunderstorms that brought light rain and increased humidity to Northern California helped crews make progress Tuesday against two large wildfires that threatened hundreds of homes but also raised the possibility of new lightning-sparked blazes in the region.
The two fires were burning in the Lassen National Forest. The smaller of the two was within sight of the small Shasta County town of Burney, though officials said it remained about 4 miles away after showing almost no growth overnight.
Trump wants his name over New Jersey casinos
ATLANTIC CITY, N.J. Donald Trump has a message for the two Atlantic City casinos that still bear his name, five years after he gave up anything to do with running them: You’re fired.
The real estate mogul and reality TV star, who presided over a casino empire in the glory days of Atlantic City, filed a lawsuit on Tuesday demanding that his name be stripped from the remaining two.
He told The Associated Press he sued Trump Entertainment Resorts, a descendant of a corporate entity he once controlled, because it has allowed its two Atlantic City casinos, the Trump Plaza and the Trump Taj Mahal, to fall into disrepair, tarnishing his personal brand.
Associated Press
