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Business

US Supreme Court Upholds Trump-Era Tax Rule on Foreign Income, More Key Decisions Pending

The US Supreme Court recently made a significant ruling upholding a Trump-era tax rule on foreign income. The case, Moore v United States, centered on the legality of a one-time tax imposed on Americans holding shares in foreign corporations as part of the 2017 tax code overhaul initiated during Donald Trump’s presidency. In a 7-2 decision, the court deemed the tax to be lawful.

While this ruling marks a key development, several other crucial cases are still pending, including decisions on abortion rights, social media regulations, and Trump’s potential prosecution for election interference. The court has been delivering judgments on lesser-known cases as it prepares to address these high-profile matters.

In a separate update, Democratic Senator Tina Smith is working on a bill to repeal the Comstock Act, an outdated law from the 19th century that Democrats fear could be exploited to enforce a nationwide abortion ban. The proposed legislation aims to eliminate restrictions on mailing abortion-related materials, addressing concerns about potential anti-abortion activism leveraging the law.

As the Supreme Court continues to deliberate on pressing issues, the public eagerly awaits further decisions expected to be released on Friday. Stay tuned for more updates on these crucial legal matters.

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