11-28-2021  4:39 pm   •   PDX and SEA Weather
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NORTHWEST NEWS

City’s Budget Windfall Means More for Police, Despite NAACP Demands

Group calls out lack of engagement from City Hall.

Oregon Resists Dropping Controversial Investments

Oregon residents are increasingly pushing for the state to divest from fossil fuel companies and other controversial investments, but the state treasury is resisting and putting the onus on the Legislature.

COVID-19: Oregon Drops Outdoor Mask Requirement

Oregon still has in place, a statewide indoor mask mandate for all public settings

Oregon Supreme Court Dismisses Challenge to Legislative Maps

The Oregon Supreme Court on Monday dismissed two challenges filed by Republicans to new state legislative districts approved by the Legislature in September.

NEWS BRIEFS

Vsp Global Partners With Black EyeCare Perspective to Eliminate Inequities and Increase Representation of People of Color in the Eye Care Industry

Partnership includes scholarships, leadership development, and outreach to prospective optometrists ...

Shop Local and Earn Free Parking With Parking Kitty

Find the purrfect gift for your loved ones by supporting small businesses and shopping local this holiday season, thanks to the...

Oregon Records More Than 5,000 COVID-19 Related Deaths

Today, Oregon health officials reported 103 new COVID-19 related deaths, bringing the state’s death toll to more than 5,000 ...

Northwest Library Site Acquired as Part of Multnomah County Library Capital Bond Projects

Location will help library move towards permanent spaces, expedite other bond projects ...

Four LGBTQ Leaders to Be Inducted Into Hall of Fame

Governor Kate Brown included in 2021 class of inductees to be honored at Victory Fund’s 30th Anniversary Gala ...

Northwest residents urged to stay alert as storms roll in

Weather officials urged Northwest residents to remain alert Sunday as more rain was predicted to fall in an area with lingering water from extreme weather earlier this month. “There's some good news and some pending news,” said Steve Reedy, a meteorologist with the National...

Community systems offer alternative paths for solar growth

MINNEAPOLIS (AP) — Strolling his church's rooftop among 630 solar panels, Bishop Richard Howell Jr. acknowledged climate change isn't the most pressing concern for his predominantly Black congregation — even though it disproportionately harms people of color and the poor. ...

No. 25 Arkansas beats Missouri, caps best season since 2011

FAYETTEVILLE, Ark. (AP) — Sam Pittman grinned for almost the entirety of his postgame press conference Friday night. The Arkansas coach and his team had done something no others ever had. The No. 25 Razorbacks capped their regular season with a 34-17 victory over Missouri,...

Mizzou's Drinkwitz returning to Arkansas for rivalry game

FAYETTEVILLE, Ark. (AP) — Just 45 miles of interstate highway separate Eli Drinkwitz from where he started and where he is now as Missouri's head football coach. Raised in the small Arkansas town of Alma, Drinkwitz will come full circle Friday when his Tigers visit No. 25...

OPINION

State is Painting Lipstick on Its One-of-a-kind, Long-term-care Law

Starting in January, the unpopular law imposes a stiff new tax of 58 cents per 0 earned for every worker in the state ...

Giving Thanks

Just by being alive we can be sure of having moments of sadness as well as happiness. When you’re active in politics, you experience both wins and losses. Sometimes it can be hard to feel grateful. ...

Acting on Climate will Require an Emphasis on Environmental Justice

Climate change affects us all, but its effects aren’t distributed equally. ...

Small Businesses Cannot Survive With Current Level of Postal Service

At The Skanner News office we received an important piece of correspondence that was postmarked June 12, 2021, and delivered to us on November 4, 2021. ...

AFRICAN AMERICANS IN THE NEWS

Carrie Meek, pioneering Black former congresswoman, dies

FORT LAUDERDALE, Fla. (AP) — Carrie Meek, the grandchild of a slave and a sharecropper’s daughter who became one of the first Black Floridians elected to Congress since Reconstruction, died Sunday. She was 95. Meek died at her home in Miami after a long illness, family...

Key moments since Jussie Smollett reported Chicago attack

CHICAGO (AP) — Jussie Smollett goes to trial Monday on charges that he lied to Chicago police when the former “Empire” actor and R&B singer reported being the victim of a racist and homophobic attack nearly three years ago. Some key moments in the story: Jan. 22, 2019 ...

Trial set to start on charges Smollett faked racist attack

CHICAGO (AP) — A popular actor steps out onto the street and is brutally reminded that, despite his fame and wealth, places still exist where the color of his skin and sexual orientation put him in danger. That was the story that ricocheted around the world after Jussie...

ENTERTAINMENT

'Get Back' series dispels, and confirms, some Beatle myths

NEW YORK (AP) — For 50 years, the fixed narrative had the Beatles' “Let it Be” recording session as a miserable experience with a band where members were sick of each other, sick of their work and in the process of breaking up. The nearly 8-hour, Peter Jackson-produced...

Towering musical theater master Stephen Sondheim dies at 91

NEW YORK (AP) — Stephen Sondheim, the songwriter who reshaped the American musical theater in the second half of the 20th century with his intelligent, intricately rhymed lyrics, his use of evocative melodies and his willingness to tackle unusual subjects, has died. He was 91. ...

Chris Diamantopoulos builds a hot career, on screen and off

NEW YORK (AP) — When you see Chris Diamantopoulos on screen, you may get a sense of déjà vu. The actor regularly pops up in movies and TV shows as a variety of characters, and he's fine if you find yourself trying to place where you've seen him before. “I want people...

U.S. & WORLD NEWS

Israeli president celebrates Hanukkah at West Bank site

HEBRON, West Bank (AP) — Israel’s president on Sunday visited one of the most contentious spots in the...

In Iraq, family mourns daughter who drowned crossing to UK

IRBIL, Iraq (AP) — Snow globes, teddy bears and makeup brushes — these were the trinkets left behind in...

Trial set to start on charges Smollett faked racist attack

CHICAGO (AP) — A popular actor steps out onto the street and is brutally reminded that, despite his fame and...

EXPLAINER: Can world powers curb Iran in new nuclear talks?

JERUSALEM (AP) — Can the landmark 2015 nuclear deal between Iran and world powers be restored? As Iran and six...

EU plane to monitor migrants on Channel shores after deaths

CALAIS, France (AP) — The EU’s border agency will dispatch a plane to monitor the shores of the English...

Asian leaders at economic summit vow to help Afghanistan

ASHGABAT, Turkmenistan (AP) — The leaders of several Asian countries called for boosting their economic ties and...

Jennifer Liberto CNN Money

WASHINGTON (CNNMoney) -- Microsoft has saved nearly $7 billion off its U.S. tax bill since 2009 by using loopholes to shift profits offshore, a Senate panel said in a report released Thursday.

Hewlett-Packard also avoided paying taxes through a series of loans, some spanning 30 months, that shifted billions of dollars between two offshore subsidiaries, according to the Senate panel.

The Permanent Subcommittee on Investigations reviewed tax loopholes used by dozens of companies in the high-tech industry to shift profits offshore. But it focused on moves by Microsoft and Hewlett-Packard, according to Sen. Carl Levin, the Michigan Democrat who runs the panel.

Members of both parties supported the report, according to panel staff.

The Senate investigation, which included subpoenas and voluntary correspondence with the companies, provided an in-depth look into how the companies set up and use overseas tax shelters, as well as the impact on government coffers.

Levin acknowledged that Microsoft has broken no laws. But he blamed a loose tax code, Congress and tax officials for allowing the loopholes. The Senate panel was scheduled to hold a hearing on the issue at 2 p.m. ET.

"The tax practices and gimmicks range from egregious to dubious validity," Levin said. "What these gimmicks do is shift the burden of taxes to citizens that don't use armies of lawyers and accountants and subsidiaries to lower their tax bill."

In the case of Microsoft, the company transferred nearly half of its net revenue from U.S. retail sales to a Puerto Rican subsidiary between 2009 and 2011. That saved the firm $4.5 billion in U.S. taxes, according to the panel.

Tapping a different tax loophole, Microsoft saved another $2.43 billion by "checking a box" on an IRS form that tells tax officials to ignore "passive" income from royalties -- on things such as patents -- moved to its offshore subsidiaries.

Microsoft Vice President of Worldwide Tax William J. Sample defended the companies' use of legal tax avoidance maneuvers, saying it helps them be competitive overseas and creates jobs in the United States.

"One of the business imperatives faced by Microsoft and many U.S.-based businesses today is that we must operate in foreign markets in order to compete and succeed as a company," Sample said in remarks prepared for delivery at the hearing. "Foreign revenue growth helps support the growth of our U.S. operations, creating additional U.S. jobs and supporting an economic ripple effect that leads to greater growth in local communities."

In the case of Hewlett-Packard, the investigation found the computer maker whittles down its cash kept in the United States by tapping a series of loans made from subsidiaries in Belgium and the Cayman Islands.

For example, in 2009, Hewlett-Packard held $12.5 billion in foreign cash, but only $800 million in the United States. It only pays taxes on the U.S. portion, while tapping a series of ongoing "short-term" loans that, taken together, stretched for 30 straight months, according to the panel.

"This pattern of keeping most of HP's cash offshore and obtaining loans from its offshore entities to fund its U.S. operations was also carried out in earlier years," the report said.

Hewlett-Packard spokesman Howard Clabo said the company has complied with the U.S. tax code and its auditor Ernst & Young has signed off on the accuracy of its financial statement. He said the IRS has permanent offices at two of its facilities and has never raised any concerns about its programs.

" We are disappointed to see what appears to be a politically motivated attack on one of America's largest employers," Clabo said.

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