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.
President Joe Biden and Vice President Kamala Harris will observe Monday's 60th anniversary of the March on Washington by meeting with organizers of the 1963 gathering and relatives of the Rev. Martin Luther King Jr., who delivered his “I Have a Dream” speech at the Lincoln Memorial.
A special session in the Tennessee Senate ended abruptly on Thursday without any action on gun control.
New York Gov. Kathy Hochul asked President Joe Biden to help the state absorb a surge of migrants.
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Political strategist Jonathan Harris breaks down the highlights from Wednesday's first Republican presidential primary debate and how Former President Donald Trump's absence affected the event.
