House Republicans have threatened to hold up funding for the US accounting standard setter over expanded income tax disclosures set to hit to corporate financial statements early next year.
A spending proposal released Sunday by the House Appropriations Committee would bar the SEC from approving the annual budget for the Financial Accounting Standards Board unless it withdraws requirements that companies share more details about their tax obligations.
The accounting standard-setter mandated in 2023 that companies must break down for investors any income taxes paid to international, federal, and state governments. Payments that add up to 5% or more of the ...