With President Trump's tax reform bill now signed into law, some major U.S. corporations may now be prompted to bring back their cash from abroad. Raw Story Staff Writer Elizabeth Preza and CRTV Congressional Correspondent Nate Madden explain how people and businesses are reacting to the new tax policy.
"You're going to see an influx of some companies bringing assets back," says Madden. "They've gotten a one-time break on this, so they can move it without taking a tax hit." Corporations bringing more investments to the United States aligns with President Trump and the GOP's message on jobs says Madden.
Preza says it's important to look at the impact on jobs through previous corporate tax cuts like the one in 2004 enacted by the Bush administration. "The Congressional Research Service found that, instead of using money to invest back into the company, [corporations] really paid out shareholders and gave it back to themselves," says Preza.
The State Department said Tuesday that Russia rejected its proposed offer to release detained Americans Paul Whelan and Evan Gershkovich.
The Justice Department has announced war crime charges against four Russian nationals in connection with the invasion of Ukraine.
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The presidents of three U.S. colleges and universities are testifying before a House Committee on their handling of anti-Semitic incidents after Hamas' attack in Israel in October.
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Attorneys for former president Donald Trump missed their chance Monday to pause the gag order against their client in his civil fraud trial in New York.
