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| November 18, 2017

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Senate Archives -

Senate tax bill ditches stock option change after outcry from tech start-ups

November 16, 2017 |

A revised Senate tax bill has ditched a change in the treatment of stock options after an outcry from technology start-ups.

The original bill released last week proposed to tax stock options on the date they vest instead of when they are cashed in. Technology start-ups such as Hyperloop One, Airbnb,…

L.A. Times – Business

Tech start-ups fight Senate plan to change the way stock options are taxed

November 14, 2017 |

Senate Republicans have touted their tax bill as business-friendly, but technology start-ups — including Hyperloop One, Airbnb, Uber and Vimeo — are fuming over a provision that would make a major change to how stock options are taxed.

A key tool for start-ups to attract employees, stock options…

L.A. Times – Business

Senate Republicans must still figure out how to eliminate tax bill’s deficit after 10 years

November 13, 2017 |

As Republicans race to enact a tax overhaul this year, most of the focus as been on the affects of the cuts and other proposed changes over the next decade. But as the action starts shifting to the Senate this week, the biggest hurdle to passing a tax bill could be what happens in year 11.
L.A. Times – Business

Alabama Senate Race Razor Thin

November 13, 2017 |

The first polls coming in after sexual misconduct claims against US Senate nominee Roy Moore broke on Thursday aren’t looking good for the GOP hopeful. According to Politico , three flash polls conducted after the Washington Post’s story captured national attention found Moore’s lead shrinking in the Alabama race, while a…

Here are the 5 major differences between the House and Senate versions of the GOP tax plan

November 12, 2017 |

Republicans repeatedly have noted that it’s been more than 30 years since Congress enacted a major tax overhaul, and this week they unintentionally demonstrated why. As a House committee passed a tax bill Thursday, Republicans on a Senate panel unveiled their own legislation with key differences.
L.A. Times – Business

House, Senate Unveil Dueling Tax Plans

November 10, 2017 |

Senate Republicans revealed the details of their sweeping tax legislation Thursday, including a one-year delay in plans for a major corporate tax cut despite strident opposition from the White House and others in their own party. Their bill would leave the prized mortgage interest deduction untouched for homeowners in a…

Senate Republican tax plan may eliminate property tax deductions and delay corporate cut

November 8, 2017 |

As they prepare to unveil their own sweeping tax plan, Senate Republicans are revisiting key provisions of the GOP House proposal, including possibly eliminating property tax deductions as well as state income tax deductions, increasing the size of child-care credits, offering more help to small…

L.A. Times – Business

Senate kills new rule allowing class-action lawsuits against banks after Pence casts deciding vote

October 25, 2017 |

The Senate voted Tuesday night to kill a controversial rule that would have allowed Americans to file class-action suits against banks instead of being forced in many cases into private arbitration.

The move by the Senate followed a similar action by the House in July to rescind the rule. President…

L.A. Times – Business

Senate Democrats fail in first attempt to save state and local tax deduction

October 19, 2017 |

Senate Democrats on Thursday failed in their first attempt to save the state and local tax deduction, which helps many residents of California and other high-cost states reduce their federal income tax bills.

The Republican-controlled Senate voted 52 to 47 to reject an amendment that would have…

L.A. Times – Business

At Senate hearing, Wells Fargo CEO to vow reforms well underway following accounts scandal

October 2, 2017 |

Wells Fargo Chief Executive Timothy Sloan is expected to tell a Senate committee Tuesday that the San Francisco bank has made substantial progress in reforming itself following its accounts scandal.

Sloan will testify before the Banking Committee following the one-year anniversary of the disclosure…

L.A. Times – Business