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.
Russian President Vladimir Putin arrived in Beijing, underscoring China's continued support of Moscow amid Russia's ongoing war in Ukraine.
The Justice Department is appealing the prison sentence of the lengths of four Proud Boys leaders who were convicted in the January 6th Capitol attack.
Supreme Court Justice Amy Coney Barrett endorsed the idea that the court adopt a formal code of conduct.
The Supreme Court ruled it would allow the Biden administration to regulate so-called ghost guns, or those untraceable homemade weapons, and also barred two Texas-based manufacturers from selling products that can be turned into ghost guns.
The Commerce Department on Tuesday updated and broadened its export controls to stop China from acquiring advanced computer chips and the equipment to manufacture them.
And in a surprise move, President Joe Biden has joined former President Trump's Truth social platform.
The Supreme Court ruled it would allow the Biden administration to regulate so-called ghost guns, or those untraceable homemade weapons, and also barred two Texas-based manufacturers from selling products that can be turned into ghost guns.
Former President Donald Trump returned to a New York City courtroom Tuesday to watch the civil fraud trial that threatens to disrupt his real estate empire, renewing his claims that the case is a baseless and politically targeted distraction from his 2024 campaign.
Over 30 people were arrested outside of the White House Monday during a protest against the Israel-Hamas war.
President Joe Biden swept into wartime Israel for a 7 1/2-hour visit Wednesday that produced a heaping dose of vocal support and a deal to get limited humanitarian aid into Gaza from Egypt.
