Greg Stohr
ReporterGreg Stohr writes for Bloomberg.
Greg Stohr writes for Bloomberg.
Voting 6-3, the justices rejected contentions that Congress unconstitutionally handed off its taxing powers.
A divided Supreme Court threw out a decades-old legal doctrine that empowered federal regulators to interpret unclear laws.
The 6-3 decision could reduce the commission's leverage to extract high-dollar settlements.
The U.S. Supreme Court upheld a 2017 tax on American-owned businesses' foreign profits, rejecting an appeal that could have saved companies hundreds of billions of dollars.
The justices heard two appeals that could constrain environmental, consumer-protection and financial regulators.
Key justices suggested the tax, which aimed to collect hundreds of billions of dollars on a one-time basis, wasn't fundamentally different from other levies imposed by Congress over the years.
The case coming before the Supreme Court stems from a 2017 tax law provision that aimed to tax earnings held overseas by big multinational companies.
The case involves a former hedge fund manager whom the SEC accused of misleading investors.
The Supreme Court will review a ruling that cast a constitutional cloud over the use of in-house judges to handle cases pressed by the Securities and Exchange Commission.
The justices, voting 6-3 along ideological lines, sided with six Republican-led states that sued to challenge the program.