Supreme Court Weighs Trump Tax Case with Trillion-Dollar Implications
The Supreme Court appears inclined to narrowly uphold a provision of President Trump's 2017 tax package that imposed a one-time tax on offshore earnings. Justices from across the ideological spectrum expressed skepticism towards a constitutional challenge brought by a Washington state couple, suggesting that the tax is substantially similar to other forms of taxation. While a majority of justices seemed to think the tax is valid, they also indicated that their reasoning may differ from the arguments presented by the Biden administration. The court is likely to settle on a ruling that upholds the tax but rejects the government's broad view of Congress's powers of taxation.