Another push for the AHCA. Ahead of its planned vote on a health bill on Thursday, the House GOP leadership has reworked the bill. Among the changes: It would "set aside funding" for additional tax credits to help those age 50-64 buy insurance but does not specify what those credits would look like. It would also repeal most ACA taxes in 2017 instead of 2018. President Trump will meet with House Republicans today to help round up support for the American Health Care Act.
W&M member Renacci will run for governor of Ohio. The Cleveland Plain Dealer reports that Rep. Jim Renacci will join a crowded field of Republicans looking to succeed term-limited governor John Kasich. At least three other Republicans are likely to compete for the nomination. Renacci is a critic of the House GOP’s border adjustable tax.
Will West Virginia change its tax system? A bill in the senate would replace the state’s 6 percent sales tax with a new 8 percent general consumption tax that would include food. It would also cut the state’s income tax rate to 2.65 percent and move to phase it out entirely by 2032. The bill would also repeal corporate net income tax, and modify severance taxes on coal and natural gas.
Miami area mayors aren’t in sync on Airbnb. Mayors Tomas Regalado of Miami and Philip Levine of Miami Beach are wary of the deal struck between Miami-Dade Mayor Carlos Gimenez and Airbnb. Miami-Dade County will receive an estimated $8 million in annual revenue through its 6 percent resort tax levied on Airbnb hosts. But Miami Beach and Miami ban short-term rentals to maintain the area’s quality of life.
In Greece: Tax officers’ union protests bailout-driven austerity measures. The government waits to learn if its reforms will satisfy European Union’s finance ministers, who meet in Brussels this week. But Greek tax service employees say that lowering the income tax exemption threshold will result in cuts to pay and pensions.
UBS and French subsidiary to face trial. The trial will investigate whether the Swiss bank and its French unit hid funds from France’s national tax administration. UBS recently rejected a proposed settlement with French prosecutors of $1.2 billion.
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