Liz Truss defends controversial tax cuts as pound falls

London CNN — Liz Truss has defended her government’s controversial announcement to cut taxes for citizens and businesses in an exclusive interview with CNN’s Jake Tapper. Truss told Tapper that by cutting taxes, her government was “incentivizing businesses to invest and we’re also helping ordinary people with their taxes.” While the cuts were expected, critics … Read more

UNGA: Tax fossil fuel companies ‘feasting’ on profits, UN chief urges

London CNN Business — Rich economies should hit oil and gas companies with new windfall taxes to provide help for countries suffering from climate change, and people struggling with soaring energy and food bills, UN Secretary General António Guterres said Tuesday. The UN chief accused energy giants of “feasting on hundreds of billions of dollars … Read more

Senate Democrats pass $740 billion tax, climate and health care bill

Senate Democrats on Sunday passed their sweeping, $740 billion tax, climate and health care reconciliation package after an all-night session, with Vice President Kamala Harris casting the tie-breaking vote. Why it matters: The 51-50 passage of the bill, just three months before the midterm elections, is a massive victory for Democrats who have spent 18 … Read more

Kyrsten Sinema raises concerns about proposed tax in Democrats’ bill

CNN — Republican senators and the business community are mounting a full-court press on Sen. Kyrsten Sinema to sink – or substantially change – the Democrats’ economic package, arguing in private conversations that the new tax increases would hurt companies in her home state of Arizona. And in a private call with business groups on … Read more