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Senator Kirsten Gillibrand (D-NY) introduced a bill, titled "The Cyber Information Sharing Tax Credit Act," which is intended to address cyber security vulnerabilities and incentivize businesses of all sizes to join sector-specific information-sharing organizations that provide refundable tax credits for all costs associated with joining. According to Senator Gillibrand, "Businesses should take the same precautions to defend their data as they do with their buildings and inventory. Just as they purchase insurance and security systems, they should enter into agreements with information sharing

The Senate Homeland Security and Government Affairs Permanent Subcommittee on Investigations announced a hearing titled "Abuse of Structured Financial Products: Misusing Basket Options to Avoid Taxes and Leverage Limits." The hearing will examine a set of transactions that utilize financial engineering and structured financial products to effect attempts to avoid paying U.S. taxes on short-term capital gains. Witnesses will include representatives of major financial institutions, as well as from a nonprofit institution and the U.S. Government Accountability Office. A witness list will be