Markets mixed after tax bill OK'd

The final vote to clear the tax bill took place in Congress on Wednesday

Trump touted the word from AT&T that it will pay 200,000 employees a $1,000 bonus after he signs the tax bill lowering the corporate tax rate to 21 percent from 35 percent.

The tax reform bill will now head to Trump's desk for a signature before it can become law. And a Monmouth University survey said half of the USA population predicts their federal taxes will increase.

The vote was a triumph for Ryan, a self-described policy wonk who put aside his vision for a more comprehensive, cutting-edge - and controversial - approach to overhauling corporate taxes earlier this year.

The tax cuts for business are permanent, but reductions for individuals and families expire after a decade.

"With final passage of this legislation, that is exactly what they are getting. It's kind of changing our worldwide tax system and, for the first time, really putting rules in place that will really stop companies from shifting profits overseas and gaming the system the way they do today", the official said, adding that it is really tax cuts and tax reform.

House Republicans could gather all of the votes they need to pass the continuing resolution without Democratic support, but at least eight Senate Democrats will be required to vote yes in order for the bill to pass in that chamber. This is one of the biggest changes in the bill and one that could significantly increase the tax burden of people who itemize their deductions - most likely people in the upper-middle or upper class. And several Senate Democrats also voted for the spending bill.

"Thank you for keeping your promise to see this Congress deliver the largest tax cut in American history before Christmas of this year", he said.

This tax code is simplified and will strengthen the economy, raise wages and make the economy more competitive, according to National Press Secretary Sarah Huckabee Sanders said in a December 15 statement.

Democrats are vowing to use this tax cut as leverage in the 2018 midterm elections.

The bill includes a short-term, six-month extension of CHIP, the Children's Health Insurance Program, that expired October 1 and covers some nine million children.

The bill also limits what homeowners can deduct in terms of state and local property taxes and income and sales taxes from their federal returns. This bill means more take-home pay. The deduction is especially vital to residents of high-tax states like New York, New Jersey and California.

NWS: 4 counties under storm warning
Those in New York City can expect mostly rainy conditions, while areas like Hudson Valley could see more than five inches of snow. Much of Alabama is shut down because forecasters say a snow storm with bitterly cold temperatures could cause travel problems.

No Democrats voted for it, and they were joined by 12 Republicans.

The officials predicted that January will be a busy month for Republicans legislatively.

"If we can't sell this to the American people, we ought to go into another line of work", Senate Majority Leaders Mitch McConnell said.

The changes would reduce federal revenue by nearly $1.5 trillion over the coming decade - before accounting for any economic growth that might result, according to Congress's Joint Committee on Taxation, which analyzes tax legislation. "Do we not?" said House Freedom Caucus Chairman Mark Meadows.

"This will allow New Mexicans to move closer to their goals of saving for retirement, going to school or simply having enough money to afford emergencies", Pearce said, referring to the tax breaks for individuals.

"Diane Black of Tennessee, the highly respected House Budget Committee Chairwoman, did a GREAT job in passing Budget, setting up big Tax Cuts", he tweeted at the time.

"Now that it's approved, I can say that", added Trump, referring to his suggestion that the bill repeal the ACA.

No such change is reflected in the new tax bill.

The bill has only tiny benefits for the middle class, said Rep. Peter Welch, D-Vermont.

Congresswoman Claudia Tenney is explaining why she voted in favor of Washington's tax reform bill.

House Minority Leader Nancy Pelosi was particularly outraged by the passage of the bill, slamming the plan as "brazen theft" and one that "betrays the future and betrays the aspirations of our children". Sure. But wary of it looking like a giveaway to the wealthy and to corporations, Republicans have avoided even this kind of "trickle-down" argument.

Related News:

  • Nine face charges in Florida State University hazing death

    Nine face charges in Florida State University hazing death

    Along with his "big", two other frat members allegedly carried him to a couch, where investigators said he "loudly snored". The other eight are members of the fraternity's executive council, which organized the party.
    Kremlin unmoved by Trump's 'imperialist' new security strategy

    Kremlin unmoved by Trump's 'imperialist' new security strategy

    He touted bilateral cooperation with Moscow that both the Kremlin and the White House said helped prevent a series of planned terrorist attacks in St.

    Macquarie Group Ltd. Has $300.72 Million Holdings in Celgene Co. (CELG)

    The stock is now moving below its 20-Day Simple Moving Average of -1.51% with a 50-Day Simple Moving Average of 0.45 percent. Natl Bank Of America Corporation De holds 0.02% or 3.86 million shares. 8,790 are owned by Duff & Phelps Inv Management.
  • Murphy wraps up busy second day as governor

    Murphy wraps up busy second day as governor

    Only one, Attorney General Gurbir Grewal , has been approved by the state Senate. New Jersey's next governor tweeted out morning wishes to the state.
    South Africa vs Zimbabwe, Boxing Day Test

    South Africa vs Zimbabwe, Boxing Day Test

    Zimbabwe face a stern challenge in the second session as the ball will be expected to move under the lights. Under clear blue skies, St George's Park was close to being a batting paradise.

    FY2017 Earnings Estimate for Barrick Gold Corp (ABX) Issued By Desjardins

    The Stock now has Analyst' mean Recommendation of 2.7 where the scale is from 1 to 5, 1 means Strong Buy and 5 means Sell. BMO Capital Markets downgraded Barrick Gold Corporation (NYSE:ABX) on Thursday, July 6 to "Market Perform" rating.
  • Jaguars' Jalen Ramsey guarantees followers in Jacksonville a Tremendous Bowl victory

    Jaguars' Jalen Ramsey guarantees followers in Jacksonville a Tremendous Bowl victory

    The fact is that the league is going through a change in which defense and a good run game is becoming prominent again. Many believed New England would host the Pittsburgh Steelers this week, but Jacksonville pulled off a shocking upset .
    Craig Overton out of England lineup for fourth Ashes test

    Craig Overton out of England lineup for fourth Ashes test

    England will face Australia at the MCG without fast bowler Craig Overton, who is sidelined with a rib injury. So (you have to) try and get it early enough and not try and really, really damage it.

    Steel Dynamics (STLD) Upgraded to "Strong-Buy" at BidaskClub

    Citigroup maintained it with "Buy" rating and $41 target in Friday, September 15 report. (NASDAQ: STLD ) for 444,659 shares. The firm operates through Steel Operations, Metals Recycling Operations, Steel Fabrication Operations, and Other divisions.
  • Bitcoin's Breach of $10000 Triggers Sell Signal for Technicians

    Its current price is still roughly double where it was in November, and down sharply from its recent peak of $1,329 on January 10. But activity in the cryptocurrency and bitcoin space has continued through alternative channels in China despite the crackdown.
    Couric To Co-Host Olympic Opening Ceremony on NBC

    Couric To Co-Host Olympic Opening Ceremony on NBC

    The announcement was made Wednesday, at the network's PyeongChang Winter Games press event at NBC headquarters in NY . Following the Opening Ceremony, Couric will contribute to NBC's coverage during the 16-day sports event.

    Most Shocking Stock Movements: Square, Inc. (SQ), NVIDIA Corporation (NVDA)

    Montecito Bancorporation And holds 6,916 shares or 0.43% of its portfolio. 165,687 were reported by Shell Asset Mgmt Commerce. The Stock now has Analyst' mean Recommendation of 2.3 where the scale is from 1 to 5, 1 means Strong Buy and 5 means Sell.

Most liked

Catalan political landscape as divided as ever
Her party, set up in 2006 to fight against the nationalists in Catalonia , received 37 seats in the local parliament . Spain's government was hoping that election would tamp down a separatist movement.

Most Americans agree: President Trump is divisive
The December 12 national poll found American voters have few kind words for Trump; expel Moore if he wins, voters say nearly 2-1. Bush in 2001, when far fewer cited such concerns about personality or character as reasons for their negative opinions.

Eddie Jones extends England contract
Brown added that the process of identifying the new man was already underway. "We wanted to get Eddie sorted". He is the highest-paid national coach in the sport, earning a reported 500,000 pounds ($690,000) per year.

Bob Dole to receive Congressional Gold Medal Wednesday afternoon
But it was Dole's penchant for working across the aisle that earned him his latest award, according to the legislation. In Dole's extensive political career, he rose to become the Republican leader in the Senate for almost a decade. "Sen.

Tillerson outlines plan for long-term United States military role in Syria
James Jeffrey, a former USA ambassador to Turkey and Iraq who served as a deputy national security adviser to President George W. Russian Federation and Turkey, along with the government in Damascus, have also criticized the US/Kurdish plan.

Tuesday forecast: Bitterly cold today, warming up the rest of the week
Meanwhile, a band of light snow is expected to develop behind the front and enter northwest Alabama by sunrise on Tuesday. However, it won't be too cold in western Montana and mild temperatures will continue for a few days this week.

Google Search will start ranking faster mobile pages higher in July
Google's Search ranking algorithm takes into account a number of factors when ordering results. It applies the same standard to all pages, regardless of the technology used to build the page.

Cardinal in Spotlight abuse case dies in Rome aged 86
The posts were stepping stones to his becoming the spiritual leader of Boston's large and influential Catholic community. Born Nov. 4, 1931, in Mexico, Law completed his education from Harvard in 1953 and immediately entered the seminary.

Kylie Jenner look-alike is noticed at LA pharmacy
Kylie and sister Kendall were mysteriously absent from the event and so Khloe was seen FaceTiming Kylie to tell her the news. After some time, more and more stories about their upcoming baby have resurfaced and those were never confirmed.

UN Operating Budget Cut by $285M; US Claims Credit for It
The push for deeper cuts comes as Guterres is trying to build support for his plans for reform of the United Nations bureaucracy. If the United Nations can't do that on its own, the U.S. intends to reduce the spoils possible and remove much of the incentive.

Russian Olympic Outfitter Says Will Withhold Brand From Upcoming Games
The latest sanctions against the Russian athletes stem from its investigation into doping at the 2014 Winter Olympics in Sochi. The IOC prefers a shade "darker in color" than those "used in the Russian Federation flag".

Bengals fans donating to Blake Bortles Foundation as thanks for beating Steelers
Cincinnati didn't make the playoffs, so the next-best thing for Bengals fans is Pittsburgh not winning the Super Bowl. This act was not taken to make amends for the on-field shenanigans from the Bengals-Jaguars game earlier this season.

Australian Open 2018: Jo-Wilfried Tsonga beats Denis Shapovalov in five sets
The Brisbane International victor will now lock horns with 2008 finalist Jo-Wilfried Tsonga in the Round of 32. But the Australian was devastating, rifling through it to hold five match points before winning 7/2.

Met Office warns of a wild night as gales move east
The heaviest and most frequent showers would be in the north and west of the United Kingdom , which could see 2-5cm of snow. No snow is expected on the ground but there may be a slight dusting on the highest hills.

Stock Price Analysis of Las Vegas Sands Corp. (LVS)
Jeffrey Tannenbaum increased its stake in Lkq Corp (LKQ) by 1525.32% based on its latest 2017Q3 regulatory filing with the SEC. Fir Tree Inc who had been investing in Lkq Corp for a number of months, seems to be bullish on the $13.43B market cap company.