With McCain in hospital and now Lee and Rubio questioning the child-care credit, markets are showing some anxiety about just how "done deal" this deal really is...
The reaction is clear...
And the High Tax companies are continuing to see profit-taking...
On Wednesday, Congress Republicans were said to reach a deal on final tax legislation, clearing the way for final votes next week on a package that, if approved, would be sent to President Donald Trump to sign into law. While the formal language of the legislation has not been released, the following are the known provisions on which House of Representatives and Senate tax writers have agreed, based on Reuters reporting.
Here is a full summary of what we know as of this moment is in the Republicans' final tax bill:
BUSINESSES
With Republicans having inexplicably sacrificed a crucial Senate seat last night by choosing to support a candidate accused of multiple counts of pedophilia, it's unclear whether tax reform is even a remote possibility at this point. Certainly, the challenge of forming a consensus among the GOP was difficult enough when they held a 2-seat advantage in the Senate so we can only assume it will be next to impossible now that that lead has been cut in half.
The Guardian reports that EU could scrap a divisive scheme that compels member states to accept quotas of refugees, one of the bloc’s most senior leaders will say this week.
The president of the European council, Donald Tusk, will tell EU leaders at a summit on Thursday that mandatory quotas have been divisive and ineffective, in a clear sign that he is ready to abandon the policy that has created bitter splits across the continent.
One month ago, we speculated that in order to pass the GOP tax plan, Congress would end up having to raise the proposed corporate tax rate from 20% to 25%, because as it stands now, there is simply not enough sources of funding.
In the end corp tax will be agreed upon at 25% starting 2018, as per the Goldman plan
— zerohedge (@zerohedge) November 9, 2017