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•  Financial - Legal News
The Latest: Senate panel approves tax overhaul bill

•  Financial     updated  2017/11/17 22:24


Vice President Mike Pence says "now the ball is in the Senate's court," after the House voted Thursday to approve a $1.5 trillion overhaul of the nation's tax code.

At the Tax Foundation's 80th annual dinner in Washington, Pence said, "The next few weeks are going to be vitally important and they're going to be a challenge." But he said, "we're going to get it done" before the end of the year. Pence was being awarded the foundation's distinguished service award.

Pence is endorsing the Senate effort to repeal the Affordable Care Act individual mandate as part of its own tax reform plan.

He said: "While we're at it, we're going to cut taxes on working Americans when we repeal the Obamacare individual mandate tax in this tax reform bill."

Vice President Mike Pence says "now the ball is in the Senate's court," after the House voted Thursday to approve a $1.5 trillion overhaul of the nation's tax code.

At the Tax Foundation's 80th annual dinner in Washington, Pence said, "The next few weeks are going to be vitally important and they're going to be a challenge." But he said, "we're going to get it done" before the end of the year. Pence was being awarded the foundation's distinguished service award.

Pence is endorsing the Senate effort to repeal the Affordable Care Act individual mandate as part of its own tax reform plan.

He said: "While we're at it, we're going to cut taxes on working Americans when we repeal the Obamacare individual mandate tax in this tax reform bill."



The case of a man serving life in prison for killing the 2-year-old son of NFL running back Adrian Peterson in South Dakota is going before the state Supreme Court.

Joseph Patterson was convicted in September 2015 of second-degree murder in the October 2013 death of Tyrese Ruffin, the son of Patterson's girlfriend and Peterson.

Patterson appealed, and the Argus Leader reports the state Supreme Court will decide whether his jury trial was mishandled. Attorney arguments are scheduled Monday on several questions, including whether the trial court prejudiced the jury by allowing prosecutors to mention certain information.

Peterson was a longtime member of the Minnesota Vikings. He now plays for the New Orleans Saints.



A dispute over whether to shut down Toledo's last abortion clinic is headed to the Ohio Supreme Court Tuesday, in a case both sides view as pivotal.

At issue in oral arguments will be the state health department's 2014 order shutting down Capital Care of Toledo for lack of a patient-transfer agreement, which would formally authorize the transfer of patients from the clinic to a local hospital.

Such agreements were mandated, and public hospitals barred from providing them, under restrictions Ohio lawmakers passed in 2013. The change prompted the University of Toledo Hospital, which is public, to withdraw from its transfer arrangement with Capital Care.

The clinic sued and won in the lower courts, which ruled the restrictions were unconstitutional. Judges have allowed the clinic to continue operating as the legal dispute continues.

Republican Attorney General Mike DeWine appealed to the high court last year, asking that justices uphold the state's action and shut the clinic down. In a divided vote in March, the court agreed to take up the case.

After the Republican-controlled state Legislature opted to outlaw transfer agreements with public hospitals, Capital Care went out of state, negotiating its required agreement with the University of Michigan Health System in Ann Arbor.

Wisconsin panel changes court rules for Foxconn plant

•  Financial     updated  2017/09/05 09:10


Foxconn Technology Group could appeal lawsuits directly to the conservative-controlled Wisconsin Supreme Court, skipping the state appeals court, under changes to a $3 billion incentive package the Legislature's budget-writing committee approved Tuesday.

The unprecedented change to the usual judicial process drew criticism from Democrats, who also blasted the $3 billion incentives as a corporate welfare giveaway. But they didn't have the votes needed to stop the proposal.

The Republican-controlled committee approved the bill on a party line 12-4 vote. The state Senate planned to vote on it Sept. 12, with the Assembly expected to quickly follow. Both are under GOP control.

The Assembly approved it last month, but will have to vote again since the committee changed the measure which amounts to the largest state tax break to a foreign corporation in U.S. history. It must pass both houses of the Legislature in the same form before going to Gov. Scott Walker for his signature.

Taiwan-based Foxconn signed a deal with Wisconsin to invest up to $10 billion in the state on a massive flat-screen manufacturing campus that could employ up to 13,000 people. The plant is to be built in southeastern Wisconsin and be open as soon as 2020, although Foxconn has not identified its exact location yet.

"This is probably the biggest thing to happen to Wisconsin since the cow," Republican budget committee co-chair Rep. John Nygren said Tuesday.

Proponents say the plant offers a once-in-a lifetime opportunity for the state, while critics say the state is giving away too much with the $3 billion incentive package. The bill also waives environmental regulations that will allow Foxconn to build in wetland and waterways and construct its 20-million-square-foot campus without first doing an environmental impact statement.




Cristiano Ronaldo has been summoned to appear before a Spanish judge, and Jose Mourinho could be next.

Ronaldo and Mourinho are the latest members of the soccer elite to be accused of tax fraud in Spain. Lionel Messi and Javier Mascherano, among others, have already been convicted.

On Tuesday, Ronaldo was told to appear in court on July 31, while Mourinho was accused by a state prosecutor of defrauding Spain's Tax Office of 3.3 million euros ($3.7 million).

Ronaldo, who is in Russia at the Confederations Cup with Portugal's national soccer team, has played in Spain for Real Madrid since 2009. The 54-year-old Mourinho was Real Madrid coach from 2010-13. He now is the coach of English club Manchester United.

The cases are about the profits made from image rights, not salaries from their clubs. Real Madrid and Man United are not directly involved.

Both Ronaldo and Mourinho are represented by Portuguese agent Jorge Mendes. Atletico Madrid striker Radamel Falcao and Real Madrid defender Fabio Coentrao, who have also been accused of tax fraud in Spain, are also clients of Mendes.

A request for comment from Mendes' agency, Gestifute, was not immediately answered.

Last week, Ronaldo was accused by a state prosecutor of four counts of tax fraud totaling 14.7 million euros ($16.5 million). The Portugal forward is now under official investigation and will have to appear in the Pozuelo de Alarcon court No. 1 on July 31. A judge will then decide if they are grounds to charge him with a crime.

The prosecutor said last Tuesday that there was evidence that Ronaldo used a shell company in the Virgin Islands to hide the money he had made from image rights. Ronaldo has denied any wrongdoing.

The accusations against Ronaldo have caused speculation in Portugal and Spain that he is now considering leaving the country to play elsewhere.

The summoning of Ronaldo coincided with the same Madrid-based prosecutor's office accusing Mourinho of two counts of tax fraud.





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