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.
MarketWatch's Hannah Erin Lang joins Cheddar to discuss how economists are viewing Trump's immigration policy and how it will affect the job market in America.
Nathan Bomey, reporter at Axios, joins Cheddar to unpack what Elon Musk and Vivek Ramaswamy will do as heads of the Department of Government Efficiency. Watch!
Cheddar's Dave Briggs and Peter Green unpack details on Trump and Harris' economic plans. Do people understand tariffs? Who will add more to the debt? Watch!
The Washington Post has lost at least a quarter million subscribers since announcing last Friday it would not endorse a candidate in the presidential race.
