How Alabama’s Election Could Reshape Washington’s Policy Battles: DealBook Briefing<br />• Even if the tax legislation is signed into law this year — we’ll get to the state of play in a moment, though there’s a chance things don’t get wrapped up<br />before the holidays — Republicans still have plenty of other issues, from health care to infrastructure spending, that will have to get through the Senate.<br />“Along with limits on the US share of worldwide interest expense<br />and the indirect effects of a 20 percent rate and changes to taxation of foreign profits, companies will have a greater incentive to issue debt abroad than they do under current law.”<br />“The current legislation would reduce the effective corporate tax rate by around 3 percentage points on average over the next ten years.”<br />The Republican tax plan likely overestimates the revenue gains from limiting the deductibility of state and local taxes, or SALT.<br />As the limitation of SALT deductibility is one of the largest sources of new revenue in the tax reform legislation,<br />the proposed tax cut could turn out to be much larger than expected if states successfully adapt to the changes.”<br />Apple’s purchase of Shazam for reportedly as much as $400 million, got us to wondering: How acquisitive has Apple been?<br />So argues Andrew in his latest column, citing the $1.5 billion in “synergies” — read, “cost-saving layoffs” —<br />that the analysts think the chip maker could reap by buying Qualcomm.<br />While some analysts and investors think Qualcomm might raise its bid for NXP as a way to deter Broadcom — which doesn’t<br />want the NXP deal to become any more expensive — Qualcomm says that for now it’s sticking by its $110-a-share offer.
