See Local News
Get Balanced News From Your U.S. State.
See Local News
See all locals

Justices uphold Trump tax on overseas investments in win for Biden

Posted on AllSides June 20th, 2024
From The Left
Supreme Court, Taxes
Mark Schiefelbein/AP

The Supreme Court on Thursday upheld a Trump-era tax on overseas investments, rejecting an argument from a Washington state couple in a case that could have jeopardized existing tax provisions and torpedoed Democratic talk of a wealth tax.

A 7-2 majority upheld the tax. Justice Brett Kavanaugh wrote the majority opinion and Justice Clarence Thomas wrote a dissent.

At issue in the closely watched tax case was whether the government could levy a tax on investment proceeds that had not yet been received. Charles and Kathleen Moore, a Washington state couple, challenged a...

Read full story

AllSides Picks

More News about Supreme Court from the Left, Center and Right

From the Left

From the Center

From the Right