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Article: In brief.(News)
- Article from:
- Business Insurance
- Article date:
- April 7, 2008
CopyrightCOPYRIGHT 2008 Crain Communications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Clinton seeks to close offshore tax 'loophole'
Democratic presidential contender Hillary Clinton said last week that she would close a purported tax loophole that she said gives foreign insurers with U.S. subsidiaries an "unfair advantage'' over U.S.-based competitors. In a Senate Finance Committee hearing last fall, a coalition of U.S. insurers charged that foreign companies can shift U.S. profits to affiliates in low-tax jurisdictions through reinsurance agreements. Ms. Clinton last week proposed halting the practice as part of an "insourcing agenda'' to create U.S. jobs.
3M phasing out DB pension plan
3M Co. is phasing out its pension plan ...