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blog 2.6 Lobbying and tax reform

1.One part of the bill could cost the conglomerate more than $1 billion in new taxes if it becomes law.
2.GE lobbyists scrambled and won an alternative in the Senate’s version of the tax bill preserving the company’s ability to use those losses when calculating its tax liability
3.Foreign airlines including Emirates Airline of Dubai and Etihad Airways of Abu Dhabi are fighting to jettison a provision included in the Senate bill that would require foreign airlines to pay taxes on income earned on U.S. flights in some cases. Delta Air Lines Inc. is lobbying to keep the new tax in the final bill, arguing that it could raise $200 million over a decade.
5. Its centerpiece is a reduction in the corporate tax rate to 20% from 35%. It would also repeal the alternative minimum tax, lower estate taxes and cut some individual rates. It is estimated to cost about $1.4 trillion over the next decade. Republicans say some of the revenue loss would be recouped by higher government receipts from stronger U.S. economic growth, though a new official estimate Thursday said it wouldn’t pay for itself.
6.supporters said could hurt the housing market, raise borrowing costs and increase the tax burden on families in high-tax states.
7.Businesses United for Interest and Loan Deductibility (The BUILD Coalition) is a group of businesses and trade associations representing multiple sectors of the U.S. economy, including real estate, telecommunications, manufacturing, agriculture, healthcare, finance, and small business. BUILD is committed to maintaining the full deduction for business interest expense in the tax code.
8.The plan would slash the corporate tax rate to 20 percent from 35 percent, and create a new 25 percent tax rate for “pass through” businesses such as partnerships, sole proprietorships and family farms.
9. fighting to make sure the tax overhaul is not a boon for the rich.

10.millions in advertising to urge lawmakers from both parties to oppose tax cuts for the rich, and it expects to become more active.

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