MarketsEquity MarketsSharemarketPrint articleNew profit levy to weigh on US share buybacksRichard HendersonReporterAug 9, 2022 – 12.19pmSaveLog in or Subscribe to save articleShareCopy linkCopiedEmailLinkedInTwitterFacebookCopy linkCopiedShare via...Gift this articleSubscribe to gift this articleGift 5 articles to anyone you choose each month when you subscribe.Subscribe nowAlready a subscriber? LoginNew legislation introduced by President Joe Biden includes a baseline tax on global corporate profits and a levy on share repurchases, tapping the brakes on one of the biggest drivers of US sharemarket performance over the past few years.The US Senate passed the Inflation Reduction Act on Monday in Washington, which includes a host of measures to attempt to depress quickly rising prices. Within the law are two measures that will tax corporate profits.Loading...Richard Henderson is a markets reporter based in our Melbourne newsroom. Connect with Richard on Twitter. Email Richard at richard.henderson@afr.com.auSaveLog in or Subscribe to save articleShareCopy linkCopiedEmailLinkedInTwitterFacebookCopy linkCopiedShare via...Gift this articleSubscribe to gift this articleGift 5 articles to anyone you choose each month when you subscribe.Subscribe nowAlready a subscriber? LoginLicense articleIntroducing your NewsfeedFollow the topics, people and companies that matter to you.Find out moreRead MoreSharemarketInvestingLatest In Equity marketsFetching latest articlesMost Viewed In MarketsThe Australian Financial Review MagazineWhat lurks beneath the stand-off over Sydney’s $750m new fish marketPrimrose RiordanWhy these Australian wines are at risk of extinctionHow much to tip? And other restaurant conundrums to chew onBOSS Financial ReviewHow this CEO wrote a report while cooking noodlesHannah TattersallHow execs slay the horror ‘sandwich’ of work, kids and ageing parentsHow these brothers turned a side hustle into $100mLife & LeisureArchitects are turning to the past to design the buildings of the futureRobert BevanIs this going to revolutionise the Friday night takeaway?Level up with a gold-accented ceramic watch and boho Hermès wedgesRich ListMike Cannon-Brookes loses two executives from private office GrokPrimrose RiordanShuffle follows Stake into the gutterToorak Rich Listers caught up in mansion fire
