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.
Throughout two public floors of the White House, the décor features numerous nods to the 200th anniversary of the publication of the poem and book commonly known as “'Twas the Night Before Christmas."
Israel and Hamas agreed to extend their cease-fire for two more days past Monday, the Qatari government said, bringing the prospect of a longer halt to their deadliest and most destructive war and further exchanges of militant-held hostages for Palestinians imprisoned by Israel.
