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Senate advances bill to renew $85 billion in tax breaks

WASHINGTON (Reuters) – The Democratic-led U.S. Senate on Tuesday voted to advance a bill to renew $85 billion of individual and business tax breaks for two years, setting up a confrontation with Republicans in the House of Representatives. By a vote of 96-3, the measure passed its first procedural test,…

Obama administration’s transportation bill would end some tax breaks for businesses

WASHINGTON (Reuters) – The Obama administration on Tuesday sent a four-year transportation reauthorization bill to Congress that aims to plug a pending shortage in funding for repair and construction of America’s bridges, roads and transit systems. U.S. Transportation Secretary Anthony Foxx said funding would come by ending certain tax breaks…

Swiss end tax breaks, drive out millionaires, bring in more money

GENEVA — The region of Zurich, the home of Swiss banking, has lost nearly half its foreign millionaires two years after scrapping special tax breaks, according to official figures. Of the 201 foreign residents who benefited from the tax breaks which the canton scrapped in early 2009, 97 have decamped…

Obama says U.S. on track to doubling exports

US President Barack Obama said Saturday his administration was headed toward fulfilling its commitment of doubling US exports over five years and promised to reward businesses that created jobs at home with tax breaks. “Two years ago, I set a goal of doubling US exports over five years,” the president…

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