It all seemed too good to be true: a global campaign to stamp out tax avoidance and harmonize international tax rules for companies that operate across national borders.At the forefront of the transparency drive is a minimum tax rate for multinational corporations, no matter where they operate. No more exploiting tax loopholes and shifting profits to countries with … Read more
Sharon Basch is a rising 3L at the University of Pittsburgh School of Law and a JURIST staff correspondent in Washington DC this summer. Wednesday morning I attended a US Senate Budget Committee hearing entitled “Making Wall Street Pay its Fair Share: Raising Revenue, Strengthening Our Economy.” The hearing was called to discuss tax policy and … Read more
The US Senate approved the reauthorization of a controversial surveillance program, narrowly avoiding its midnight expiration.
Boeing has not found fatigue cracks on in-service 787 jets that have undergone heavy maintenance inspections.
Top U.S. Senate Republican Mitch McConnell announced he will step down this year from his leadership role, ending a nearly 17-year tenure as a Senate party leader, the longest on record. McConnell has represented Kentucky in the Senate since 1985 and has been the Republican leader since 2007. He played a significant role in helping Donald Trump secure a 6-3 conservative majority in the Supreme Court. Despite his contributions, McConnell has faced opposition from hardline Republican opponents allied with Trump. He stated his intention not to run for Senate Republican leader in the upcoming November party elections, planning to serve out the rest of his term in the Senate, which extends through January 2027. Senators John Thune, John Cornyn, and John Barrasso are expected to vie for the top party job. McConnell has also been vocal about his opposition to Trump’s conduct, particularly regarding the Jan. 6, 2021, attack on the U.S. Capitol, and has supported aid to Ukraine against some Republican opposition.
Attorney General George Savvides denied corruption charges after being accused by lawyer Efstathios Efstathiou of protecting Russian oligarch Oleg Boyko. Efstathiou claimed that 3.4 million worth of shares were stolen from his client, Ilya Alekseevitch Surkov, and illegally transferred to Boyko through Cyprus-registered companies. Boyko allegedly used false representations to transfer shares from Orlando Heights Ltd in Greencat Services Ltd to his company Finstroy Ltd, resulting in him holding 80% of the assets Orlando Heights had in Moscow’s Altufievo Mall. Criminal charges against Boyko were dropped due to insufficient witness material for prosecution in Cyprus. Efstathiou filed three complaints to the anti-corruption authority, which found no evidence of corruption. Boyko was subject to a Red Notice international arrest warrant but avoided questioning for four years until the warrant was scrapped. A private lawsuit filed by Efstathiou was also suspended by the AG. Surkov, who has a Greek passport and was wanted in Russia for alleged fraud, was granted political asylum in the UK. Boyko had been sanctioned by Canada and Australia but had the Canadian sanctions lifted following a lawsuit. The US Senate Intelligence Committee reported Boyko had ties to the Russian state and criminality.
Bipartisan U.S. Senate talks on a border security deal have reached a critical point, with some lawmakers considering a “plan B” for aid to U.S. allies if an agreement is not reached. The negotiations aim to address the flow of migrants across the U.S.-Mexico border but face opposition from Republicans aligned with Donald Trump. Senate Republican leader Mitch McConnell and others seek a deal that could prompt the House to combine border security with aid for Ukraine, Israel, and Taiwan. The White House encourages continued bipartisan talks for a border policy compromise. Senator Chris Murphy stated that Republicans must decide whether to accept the proposed border deal. Reports suggest McConnell warned that time and political will for a bipartisan border deal are waning, but a spokesman for McConnell did not dispute this account. Aligning with Trump’s immigration stance is important for many Senate Republicans, over half of whom have endorsed him. Some Republicans will not support a border agreement without majority Republican backing.