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.
Some U.S. lawmakers are calling on social media platforms X, Facebook and Instagram to explain why they aren't imposing new labels on deceptive AI-generated political advertisements that could fake a candidate's voice or actions.
U.K. Prime Minister Rishi Sunak on Wednesday proposed raising the legal age that people in England can buy cigarettes by one year, every year until it is eventually illegal for the whole population and smoking will hopefully be phased out among young people.
A man illegally brought a loaded handgun into the Wisconsin Capitol, demanding to see Gov. Tony Evers, and returned at night with an assault rifle after posting bail, police said Thursday.
Michael Whitaker, who was nominated by President Biden to lead the FAA, was grilled by a Senate committee on how he would handle current situations with the agency.
