Bloomberg Tax
Jan. 16, 2020, 7:41 PM

Senate Democrats Want Lobbying Details On International Tax Changes

Colin Wilhelm
Colin Wilhelm

Senate Finance Committee Democrats are questioning whether lobbying efforts led the Trump administration to make the 2017 tax law more favorable to multinational companies as it crafted regulations putting the changes in place.

The group, led by ranking member Ron Wyden (D-Ore.), called the changes in the law—including a corporate tax rate cut to 21% from 35%—a giveaway to multinational companies. The panel has an oversight obligation of the administration’s implementation of the law, they said Thursday in a letter to Treasury Secretary Steven Mnuchin and Office of Management and Budget acting Director Russell Vought.

  • “This includes the extent to ...

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