Jan 24, 2018

The U.S. wants to be the new tax haven for tech giants

The new tax overhaul might allow the United States might be the next base of operations for American companies that make a significant amount of cash via their intellectual property, per The Wall Street Journal. Foreign-derived intangible income, the money that companies make overseas on U.S.-produced goods that utilize their IP, will be taxed at 13.125% through 2025 and 16.4% thereafter, down from a previous top rate of 35%.

Why it matters: Ireland's similar tax break on intellectual property, known affectionately as the "Double Irish," ends after 2020. Its lucrative tax structure lured companies like Facebook and Alphabet to set up shop in Dublin, and the U.S. hopes to bring that money back home.

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Tech can't remember what to do in a down market

Illustration: Rebecca Zisser/Axios

Wall Street's two-day-old coronavirus crash is a wakeup alarm for Silicon Valley.

The big picture: Tech has been booming for so long the industry barely remembers what a down market feels like — and most companies are ill-prepared for one.

Brace yourself for a coronavirus outbreak

Illustration: Aïda Amer/Axios

Public-health officials’ warnings about the coronavirus are sounding increasingly urgent, with one top CDC official asking the public yesterday "to prepare for the expectation that this might be bad."

Reality check: Other administration officials, including President Trump himself, were more subdued in their assessments. But underneath those tonal differences, the reality of the coronavirus is the same: It spreads quickly, and has already spread to many countries, making it likely to start spreading here, too.

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Exclusive: Pro-Trump group plans post-Super Tuesday blitz on Democrats

Democratic presidential hopefuls take the debate stage in South Carolina. Photo: Logan Cyrus/AFP via Getty Images

Pro-Trump super PAC America First Action is preparing to unleash a series of targeted, swing-state attacks on the Democrats most likely to face President Trump after Super Tuesday, people familiar with the group's plans tell me in an exclusive preview of its strategy.

The state of play: The group has been tracking favorable/unfavorable ratings in Florida, Georgia, Michigan, North Carolina, Ohio and Pennsylvania for 2020 candidates Joe Biden, Bernie Sanders, Elizabeth Warren, Pete Buttigieg and Michael Bloomberg — under the theory that if Trump wins each of these six states he would win re-election.