May 14, 20219:18 PM UTC
BusinessLess than 3% of U.S. small businesses could face tax hikes under Biden plan -White House
Nandita Bose
4 minute read
U.S. President Joe Biden holds first Cabinet meeting at the White House in Washington, U.S., April 1, 2021. REUTERS/Tom Brenner
Less than 3% of the roughly 30 million small-business owners in the United States could face tax increases under President Joe Biden s jobs and infrastructure plan, according to a new analysis by the White House on Friday.
The White House has been seeking to leverage the support and political popularity of small-business owners in its fight to raise the corporate tax rate from 21% to 28% on large corporations such as Walmart Inc (WMT.N) and Amazon.com Inc (AMZN.O). The move has faced stiff opposition from large national trade groups like the U.S. Chamber of Commerce and the Business Roundtable. https://reut.rs/3bpkKwQ read more
BusinessU.S., Mexico, Canada to hold robust talks on trade deal - statement
Reuters
2 minute read
U.S. Trade Representative Katherine Tai testifies before the Senate Finance Committee on Capitol Hill in Washington, U.S., May 12, 2021. Susan Walsh/Pool via REUTERS
The United States, Mexico and Canada will next week hold their first formal talks on their continental trade deal, with particular focus on labor and environmental obligations, the U.S. government said on Friday.
Trade ministers from the three nations are set to meet virtually on Monday and Tuesday to discuss the U.S.-Mexico-Canada (USMCA) deal, which took effect in July 2020.
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