Biden’s corporate tax plan depends on Georgia’s Senate results

The two runoff elections in January to choose Georgia’s senators could have a direct effect on the bank balances of companies nationwide. That’s because Georgia’s voters will determine which party controls the Senate, which in turn will heavily influence whether President-elect Joe Biden’s business tax proposals become law.

The stakes are high. Biden has advocated for several tax increases on companies, starting with a substantial increase in the corporate tax rate, currently 21%. “There is this dynamic that Presidents do come back to the topic of tax over and over again,” says John Gimigliano, a principal at KPMG who previously served as senior tax counsel for the House Ways and Means Committee. “What does this tell us? Taxes are the Swiss Army knife of policy implementation—a one-size-fits-all tool for doing indirectly what you might not be able to do directly.”

Even if the Democrats don’t achieve a Senate majority, … Read More

Syria’s top diplomat Moalem, soft-spoken defender of Assad, dies at 79 By Reuters

© Reuters. FILE PHOTO – Syria’s Foreign Minister Walid al-Moalem


By Suleiman Al-Khalidi

AMMAN (Reuters) – ‮Syria’s‬ long-time foreign minister Walid al-Moalem, an unyielding defender of Syrian President Bashar al Assad’s bloody crackdown on peaceful protesters that sparked a decade old conflict, died on Monday, the government said.

There were no details on the cause of death, but the 79-year old had been in poor health with heart problems. A source close to the government said it was expected his deputy, veteran diplomat Faisal Mekdad, would replace him as foreign minister.

The genial public face of Assad’s rule to the outside world, Moalem was branded a traitor by the opposition for supporting the violent crackdown on protesters at the beginning of the conflict in 2011. Thousands took to the streets that year demanding an end to the Assad family’s decades-old authoritarian rule that later erupted into a full-scale

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