Weekly News Round Up: Supreme Court Upholds ACA Subsidies; U.S. Consumer Spending Increases; and Big Uptick in M&A Ahead

Welcome to the Weekly News Round Up from the SC&H Group blog. Each week, we showcase audit, tax, and consulting news to keep you informed about the current stories and events impacting the accounting and business landscape – and ultimately your financial obligations.

This week, we highlight how the U.S. Supreme Court upheld national tax subsidies under the Affordable Care Act (ACA). In addition, U.S. consumer spending sees its biggest gains in six years, and Goldman Sachs is predicting a big uptick in M&A activity.

Supreme Court Upholds ACA Subsidies

Last week, the U.S. Supreme Court upheld the tax subsidies under the Patient Protection and Affordable Care Act.

Senate Introduces Bill to End Offshore Reinsurance Tax Break

Senate Finance Committee ranking member Ron Wyden, D-Ore., introduced legislation aimed at preventing offshore tax avoidance by some U.S. hedge fund “reinsurers.”

U.S. Consumer Spending Shows Biggest Gain in Six Years

According to the Commerce Department, U.S. consumer spending rose $105.9 billion in May – the largest percentage increase since August 2009.

PCAOB Plans New Approach on Audit Engagement Partner Disclosure and Audit Quality Indicators

The Public Company Accounting Oversight Board has scheduled an open meeting to consider the issuance of a supplemental request for comment on rules to require disclosure of certain audit participants and a concept release on audit quality indicators.

CEO Pay Lines Up with Shareholder Returns

Chief executive pay is generally reflecting increased pressure from shareholders for companies to tie a greater percentage of their top leaders’ pay to measurable results, according to a new study.

Goldman Sachs Predicts Big Uptick in M&A

Analysts at Goldman Sachs say there’s “meaningful” growth ahead when it comes to M&A.