NPR reports:
The U.S. Supreme Court on Thursday ruled against a couple who challenged the constitutionality of a Trump-era tax provision, handing the government a victory in a case that had huge potential consequences for the federal budget.
At issue was a tax enacted in 2017 to pay for President Trump’s massive corporate tax cut and to prevent off-shore tax dodges. It was challenged by Charles And Kathleen Moore, who were required to pay a one-time $15,000 tax on an investment in India that grew in value from $40,000 to over a half million dollars.
Backed by conservative anti-regulatory groups, the couple claimed that because they had received no payments or dividends from the company, there was no income to be taxed. And they maintained that the tax violated the Sixteenth Amendment to the constitution, enacted in 1913, which authorizes Congress to collect taxes on income.
Read the full article. Other rulings today regard a “malicious prosecution” drug trafficking case out of Ohio and the case of Texas city council member who says she was arrested in retaliation for criticizing the mayor.
BREAKING: The U.S. Supreme Court upholds a tax on foreign income over a business-backed challenge. https://t.co/fzKyDlIZBy
— The Associated Press (@AP) June 20, 2024
Lisa Rubin: The delay in Supreme Court ruling on immunity is the win for Trump https://t.co/S9eU3KNsQa
— Morning Joe (@Morning_Joe) June 20, 2024
We are in the 3rd week of June and the Supreme Court continues to give Donald Trump practical immunity for trying to overturn the election by refusing to issue what should be an issue decision in the immunity case.
— Dan Pfeiffer (@danpfeiffer) June 20, 2024