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Illinois is one of 11 U.S. states with a flat income tax; seven states have no income tax; 32 other states use graduated income taxes, which tax higher incomes at a higher rate. [5] The last state to switch from a flat state income tax to a graduated state income tax was Connecticut in 1996.
The 2009 General Motors Chapter 11 sale of the assets of automobile manufacturer ... GM was bound to pay $10 billion to the VEBA trust in December 2009, with the ...
(The Center Square) – An Illinois congressman is urging lawmakers to extend President Donald Trump’s 2017 tax cuts. Many provisions of the Tax Cuts and Jobs Act are set to expire at the end of ...
A strike by auto workers against General Motors is expected to cut pretax earnings by $800 million this year, and another $200 million per week after that, the company's chief financial officer said.
The Tax Cuts and Jobs Act of 2017, signed into law by President Donald Trump, capped the total SALT deduction at $10,000 for the tax years 2018 through 2025. [24] The bill also increased the standard deduction, which significantly reduced the number of taxpayers who claim the SALT deduction. [25]
If General Motors is having any problems, it’s in its nonunion operations in China, where it lost $137 million in the quarter, compared to the $192 million profit it made there a year earlier.
On February 18, 2009, General Motors and Chrysler again approached the U.S. government, in regard to obtaining a second bridging loan of $21.6 billion (£15.2 billion). $16.6 billion of this would go to General Motors, while Chrysler would take $5 billion. General Motors agreed to shed 47,000 jobs, close five plants, and axe 12 car models.
Trump's harsh words rattled investors, who bid down GM shares by 2.6 percent on Tuesday after sending them up on Monday in response to the automaker's cost-cutting. Trump threatens to cut GM ...