Tax profits not cash flow: An alternative to the GOP plan that helps small business

The House Republican corporate tax reform proposal is bold and innovative. Its most outstanding positive feature is a shift to a destination-based corporate tax. A destination-based system moves the profit, and therefore the tax, to the place of consumption. That small change, alone, could eliminate decades of tax avoidance strategies by multinational companies. It would…

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Canadian ambassador, in letter to U.S. governors, defends dairy policies as compliant with NAFTA

Following President Trump’s charge earlier this week that U.S. dairy farmers have suffered from “some very unfair things” in Canada, the country’s envoy to Washington, David MacNaughton, said U.S. claims are not based on fact — and that Canada is living up to its international trade obligations. [Jenny Leonard] April 17th, 2017 [Inside U.S. Trade]…

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Trump’s taxing problems

Donald Trump won the presidency in significant measure on a promise to deliver more robust growth and better jobs. As things stand, his efforts and GOP prospects for the midterm elections will importantly hinge on accomplishing tax reforms that encourage more investment. [Peter Morici] April 17th, 2017 [Washington Times] Stronger growth could be greatly assisted by…

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Press Release: CPA Supports President’s Buy American Executive Order

Washington~ President Trump will sign today an executive order directing the “systematic review” of Buy American laws at Snap-On, Inc. in Kenosha, Wisconsin. The order will examine the so-called “public interest” exemptions government procurement officers use to get around these rules. It will also review whether exemptions granted to allow purchases from foreign companies provide…

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Treasury Says China Isn’t a Currency Meddler, After Trump Reversal

It is an about-face by a president who, as recently as this month, called the Chinese “world champions” at currency manipulation. [ALAN RAPPEPORT] April 14th, 2017 [The New York Times] WASHINGTON — The Treasury Department officially declined on Friday to label China a currency manipulator, breaking one of President Trump’s most prominent campaign promises. In its exchange…

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CNBC Survey: Americans Overwhelmingly Approve of Trump Agenda on Infrastructure, Tax Cuts, Trade

Renegotiating trade deals is favored by 58 percent of the public, and opposed by just over 25 percent. [JOHN CARNEY] April 12th, 2017 [Breitbart] A new survey from CNBC shows that Americans are highly optimistic about the economy and strongly support for President Donald Trump’s economic agenda. The “CNBC All American Survey” recorded the highest level…

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