September 24, 2021

Biz Journal

Business perfection

Democrats Float Partnership, Buyback Taxes to Fund $3.5 Trillion Spending Plan

WASHINGTON—Senate Democrats provided proposals Friday for tighter tax guidelines on partnerships and an excise tax on inventory buybacks, as lawmakers look to plug gaps of their fast-moving, $3.5 trillion healthcare, schooling and local weather laws.

Finance Committee Chairman Ron Wyden of Oregon detailed potential modifications to partnership taxation that would elevate greater than $172 billion over a decade. Sen. Sherrod Brown (D., Ohio), together with Mr. Wyden, is releasing a invoice that may impose a 2% excise tax on publicly traded firms’ inventory buybacks.

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