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.
Former first lady Rosalynn Carter has died at the age of 96. The Carter Center in Atlanta announced that the wife of former President Jimmy Carter died Sunday afternoon at her home in Plains, Georgia, with her family at her side.
Communications systems in the Gaza Strip were down for a second day with no fuel to power the internet and phone networks, causing aid agencies to halt cross-border deliveries of humanitarian supplies even as they warned people may soon face starvation.
President Joe Biden has ended the immediate threat of a government shutdown, signing a temporary spending bill a day before much of the government was to run out of money.
A gag order that barred Donald Trump from commenting about court personnel after he disparaged a law clerk in his New York civil fraud trial was temporarily lifted Thursday by an appellate judge who raised free speech concerns.
