This is FRESH AIR. I'm Terry Gross. As small businesses and individuals struggle to obtain federal aid, the wealthiest are poised to reap tens of billions of dollars in tax savings. The economic rescue package that became law last month is giving $174 billion in temporary tax breaks. They're intended to help small businesses. But they're going overwhelmingly to rich individuals and large companies.
President Trump and his son-in-law, Jared Kushner, will likely benefit from these tax breaks. This is what my guest, Jesse Drucker, reports in The New York Times. He's an investigative reporter for The Times' business desk. He's been reporting on several of the Trump administration's tax and economic programs.
This may worth something:
Rogers Corporation Reports First Quarter 2020 Results - Odessa American: Business
"Rogers delivered solid first quarter results at the high end of our guidance range, despite the impact of the ongoing COVID-19 pandemic," stated Bruce D. Hoechner, Rogers' President and CEO. "The global Rogers team responded swiftly to focus on employee safety and health while maintaining continuity of our operations in order to meet commitments to our customers.
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1 - Q4 2019 net loss and earnings per share inclusive of a non-cash after-tax pension settlement charge of $43.9 million, or $2.35 per diluted share
Taking Stock of Spending Through the Tax Code - Center for American Progress
President Donald Trump, left, looks at portraits as he walks down a corridor with Treasury Secretary Steven Mnuchin at the Treasury Building in Washington, D.C., April 2017.
The Tax Cuts and Jobs Act, which gave the largest tax cuts to the wealthiest Americans, also failed to address the inefficiency, lack of fairness, and cost of many spending programs administered through the tax code.
Importantly, tax expenditures are functionally the same as direct government spending. For example, from a budget perspective, it makes no difference whether taxpayers are allowed to lower their taxes by deducting the amount of interest they paid on a home mortgage or whether the government simply provides a check to homeowners for a percentage of mortgage interest paid in a given year.
Accenture Acquires NIKE Group to Enhance its RegTech and Compliance Capabilities for Financial
Accenture Acquires NIKE Group to Enhance its RegTech and Compliance Capabilities for Financial Services Firms Associated Press |
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NIKE Group's data-driven approach and compliance platform help clients monitor new regulatory requirements and assist with compliance. This is particularly important as financial services' compliance departments continue to navigate an ever-expanding and complex set of regulations.
The team at NIKE Group will join Accenture's Italian Financial Services practice. The acquisition enhances Accenture's RegTech and compliance capabilities for clients in Italy and across Europe.
Check out this next:
Hays County searches for financial relief | San Marcos Record
Hays County unanimously called upon the state for financial relief for businesses and residents of Hays County in the wake of the COVID-19 financial crisis.
In a resolution addressing Gov. Greg Abbott, Comptroller Glenn Hegar, the Texas Legislature and the Hays Central Appraisal District, the commissioners call for the state to do whatever it can to relieve struggling residents in Hays County.
The resolution calls for an extension of the deadline to pay all taxes, granting a moratorium on property-tax penalties and interest and updating the Property Tax Code to allow for relief measures during Declared Disasters.
Break On Global Tax Could Help Cos. Absorb Virus Losses - Law360
Provisions in the CARES Act, passed by Congress last month, give companies more flexibility to shift and absorb losses, especially those from 2020. (AP)
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Willis Towers Watson Reports Solid First Quarter 2020 Earnings | Benzinga
ARLINGTON, Va. and LONDON, April 30, 2020 (GLOBE NEWSWIRE) -- Willis Towers Watson (NASDAQ: WLTW ) (the "Company"), a leading global advisory, broking and solutions company, today announced financial results for the first quarter ended March 31, 2020.
"Willis Towers Watson executed well in the first quarter while navigating the unprecedented challenges brought on by the COVID-19 pandemic," said John Haley, Willis Towers Watson's chief executive officer. "I would like to personally acknowledge and thank our colleagues for remaining steadfast in supporting our clients and each other through a very challenging environment.
Happening on Twitter
"Tribal governments were supposed to get $8 billion in direct emergency relief from the CARES Act, the $2 trillion… https://t.co/qzdvhpGaps FCNL (from Washington, DC) Thu Apr 30 18:17:00 +0000 2020
Listen: How The CARES Act Became A Tax-Break Bonanza For The Rich, Explained @JesseDrucker https://t.co/FpjKjMqK3s https://t.co/4xToppyv2v nprfreshair (from Philadelphia, PA) Thu Apr 30 18:30:00 +0000 2020
How The CARES Act Became A Tax-Break Bonanza For The Rich, Explained https://t.co/s1jq6i8ifl NPRHealth (from Washington, DC) Thu Apr 30 17:30:33 +0000 2020
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