Latest News for: Offshore incentives

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How Somerset selectman's resignation will impact big projects

The Herald News 20 Apr 2021
The future of Brayton Point, which for decades housed a power plant and now may be developed as an offshore wind farm, remains contentious ... State Rep ... "Until our state gives incentives (for developers of offshore wind farms) like other states do, Brayton Point continues to be in jeopardy because developers want help," she said ... Facebook. Twitter. Email.
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China’s digital yuan displaces the dollar

Asiatimes 20 Apr 2021
In fact, China has no incentive to this, and could not do so even it wanted to. The $16 trillion of offshore dollar deposits at international banks won’t turn into the equivalent amount of Chinese yuan ... The majority of offshore bank deposits are in US dollars – $16 trillion worth – even though the US accounts for just 8% of world exports ... ....
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Energy exploration

Dawn 17 Apr 2021
The E&P companies need to be encouraged by ensuring a helpful business environment and security, as well as through tax, price and policy incentives for enabling them to undertake high-risk onshore and offshore exploration activities and to exploit unconventional hydrocarbon resources.
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Press Briefing by Press Secretary Jen Psaki, NIAID Director and Chief Medical Advisor to the President Dr. Anthony Fauci, and COVID-19 Response Coordinator Jeff Zients, April 13, 2021

The White House 14 Apr 2021
James S. Brady Press Briefing Room. 12.47 P.M. EDT. MS ... And, with that, I will turn it over to Jeff ... None of that happened.  There were stock — stock buybacks, more incentives to offshore, record compensation for executives.  We have seen countless studies where the biggest impacts to these corporations would likely be on capital.  ... .
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Rice economists: Biden’s tax increases would kill 1 million jobs in two years

Murfreesboro Post 12 Apr 2021
Diamond and George R. Zodrow, is based on several tax proposals suggested by the Biden administration ... By 2023, the U.S ... Treasury Secretary Janet Yellen argued in a Wall Street Journal op-ed that the 2017 tax reform act “creates an incentive for U.S. companies to offshore their workers and investments – and to shift their profits to tax havens.”. U.S.
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Greenpeace Takes Aim at Fossil Fuel Subsidies in Biden Tax Plan

truthout 09 Apr 2021
The goal of the tax plan is to make American companies and workers more competitive by eliminating incentives to offshore investment, substantially reducing profit shifting, countering tax competition on corporate rates, and providing tax preferences for clean energy production.
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Press Briefing by Press Secretary Jen Psaki and Secretary of Transportation Pete Buttigieg, April 9, 2021

The White House 09 Apr 2021
James S. Brady Press Briefing Room. 12.33 P.M ... MS ... SECRETARY BUTTIGIEG.  Well, as you know, the — maybe the flagship piece that people are talking about most is the rate, but there’s a lot of other things alongside that — right? — in terms of what’s going on with loopholes, the offshoring incentives, and other things.
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White House defends hiking taxes on corporations to pay for infrastructure, but signals it's open ...

The Citizens 08 Apr 2021
Instead, it gave companies incentives to send workers and profits abroad ... She argued the administration's proposal -- dubbed the "Made in America" tax plan -- would make the nation more competitive and eliminate offshoring incentives ... The administration argues that the incentives would address climate change by reducing air pollution.
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Treasury Report on Biden’s ‘Made in America’ Tax Plan Shows Corporations on the Hook for Trillions

The Epoch Times 07 Apr 2021
The report summary (pdf) says that the aim of Biden's tax plan "is to make American companies and workers more competitive by eliminating incentives to offshore investment, substantially reducing profit shifting, ...
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Yellen pushes minimum corporate taxes, no more fossil fuel breaks, to pay for infrastructure

Union Leader 07 Apr 2021
corporations. Dozens of big U.S ... Instead, the Trump-era cuts led to a dramatic drop in tax revenue as a share of economic output, with continued incentives to shift profits offshore, she told reporters on a conference call ... It will replace these with new clean energy tax incentives including for electric vehicles and efficient electric appliances ... ....
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White House defends hiking taxes on corporations to pay for infrastructure

News-Press Now 07 Apr 2021
Instead, it gave companies incentives to send workers and profits abroad ... She argued the administration's proposal -- dubbed the "Made in America" tax plan -- would make the nation more competitive and eliminate offshoring incentives ... Clean energy incentives ... It would also create and expand other incentives.
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Biden releases full tax plan to raise $2.5TRILLION in 15 years with a raid on ...

The Daily Mail 07 Apr 2021
The administration argues the tax plan is necessary and its goal 'is to make American companies and workers more competitive by eliminating incentives to offshore investment, substantially reducing profit shifting, countering tax competition on corporate rates, and providing tax preferences for clean energy production.'.
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Senate Democrats Propose Changes to Trump’s Tax Reform to Raise Revenue and Discourage Offshoring

The Epoch Times 06 Apr 2021
... of the international tax provisions in Trump's 2017 tax reforms inadvertently created incentives for American corporations to offshore jobs and production, and shift profits to foreign tax havens.
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Senators propose changing how companies’ foreign earnings are taxed

Wtop 06 Apr 2021
“That starts with ending incentives to ship ... Their plan also aims to create incentives to invest in innovation in the United States rather than offshoring factories, restoring full credits for domestic investments and curtailing the largest corporations from eroding the U.S.
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To halt '30-year race to the bottom,' Yellen calls for global minimum tax on corporations

Raw Story 06 Apr 2021
Gabriel Zucman, an associate professor of economics at the University of California, Berkeley, applauded Yellen's push for a global minimum tax, a proposal he has long supported as a way to eliminate incentives for offshoring ... revenues and encourage multinationals to locate profits and investment offshore."
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