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.
Chinese President Xi Jinping signaled that China will send new pandas to the United States, calling them “envoys of friendship between the Chinese and American peoples.
A jury on Thursday convicted the man who broke into former U.S. House Speaker Nancy Pelosi’s San Francisco home seeking to hold her hostage and attacked her husband with a hammer of federal charges of attempted kidnapping and assault.
New Jersey is dropping its requirement that candidates for office sign an oath that includes the words “so help me God” in filing paperwork for their candidacy.
