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Supreme Court signals it will uphold a tax on foreign income and leave a wealth tax for another day

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( ) -q-28- UNDATED (Correspondent Jeremy House) “of Redmond, Washington.”

The Supreme Court seems inclined to uphold a tax on foreign income while leaving broader questions about a never-enacted tax on wealth for another day.

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TAG: Correspondent Jeremy House reporting.

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VERBATIM: Conservative and liberal justices have voiced concerns that ruling for a Washington couple challenging a provision of the 2017 tax bill would threaten other provisions of the tax code. There seems to be a consensus on the court to craft a narrow ruling that would avoid what Solicitor General Elizabeth Prelogar (pree LOH gur) said would be “several trillion dollars in lost revenues.” The case argued this week was brought by Charles and Kathleen Moore of Redmond, Washington.

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