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TAX LAW NEWS - TAX LITIGATION
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Gordon Brown is considering following Barack Obama in imposing a fresh tax on banks to compensate for the huge state-funded bail-outs they received during the financial crisis.
Downing Street sources said a plan for an annual insurance fee in Britain remained on the table, despite Alistair Darling yesterday ruling out the move.
President Obama last week introduced [...]
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The White House is considering a tax on financial institutions to ensure that taxpayers who bailed out banks get paid back, a senior administration official said Monday.
The law that created the $700 billion Troubled Asset Relief Program empowered the president to ask Congress to recoup money if bailouts were not paid back in full.
TARP dictates [...]
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