Supreme Court upholds repatriation provision in sweeping 2017 tax law

The Supreme Court in a 7-2 decision Thursday upheld a provision in then-President Trump’s sweeping 2017 tax bill while sidestepping a far-reaching question about Congress’s broader taxing authority. 

The high court avoided weighing in on what constitutes “income” that the federal government can tax under the 16th Amendment, which has implications for large swaths of the U.S. tax code and could also foreclose the possibility of a wealth tax.