The Trump administration is actively working to undermine the Corporate Alternative Minimum Tax (CAMT), a Biden-era measure designed to ensure large, profitable companies pay a minimum 15% tax on their book profits. This effort involves issuing guidance and regulatory proposals that weaken the CAMT, potentially providing significant tax breaks to corporations and investors. Critics, including Democratic lawmakers, have raised concerns that these actions create loopholes and may exceed the administration’s legal authority, potentially allowing wealthy corporations to avoid their tax obligations. Specifically, lawmakers are scrutinizing a recent notice that significantly increased the safe harbor threshold, which could exempt companies from CAMT liability.
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The Trump administration is actively undermining the Corporate Alternative Minimum Tax (CAMT), a Biden-era measure designed to ensure large, profitable companies pay at least 15% in taxes on their reported profits. This move involves issuing regulatory guidance and proposals that create loopholes, effectively providing hundreds of billions of dollars in tax breaks for businesses and investors. Critics, including members of Congress, have raised concerns that the administration is exceeding its legal authority and allowing corporations to avoid their tax obligations. Specifically, a recent notice increased the safe harbor threshold, potentially exempting companies that should be subject to the CAMT.
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As a Virginian, I was stunned to hear the news that the Virginia Senate had passed a bill to strip Confederate organizations of tax breaks. My initial reaction was one of disbelief, followed by a sense of outrage. How is it possible that in 2024, Confederate organizations were still receiving tax breaks in the first place? It made me question the logic behind such a decision and the implications it carries.
The fact that Confederate organizations were benefiting from tax breaks is perplexing on many levels. These organizations represent a dark chapter in American history, one that is stained with division, hatred, and treason.… Continue reading
John Q. Hosedrinker