Tag: US tax cut

Trump triumphs as Congress passes sweeping tax cuts

by Michael Mathes Agence France-PresseUnited States – President Donald Trump hailed a historic victory Wednesday as the US Congress passed a massive Republican tax cut plan, handing him his first major legislative achievement since taking office nearly a year ago. The House voted along party lines to green-light a $1.5 trillion overhaul that will impact every corner of the US economy through dramatic tax cuts for corporations and temporary reductions for individuals. “I promised the American […]

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Asian traders sit pat, with eyes on passage of US tax cuts

HONG KONG, China (AFP) — Asian markets moved narrowly on Wednesday as investors take a breather from recent gains while keeping an eye on Capitol Hill as US lawmakers close in on a massive tax overhaul. Equities have been on a broad upswing since last week when holdout Republican senators said they would back Donald Trump’s headline legislation, which dealers are betting will fire up the world’s number one economy. The House of Representatives passed […]

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Tax cut passes US House, heads to Senate for crunch vote

by Michael Mathes Agence France-Presse WASHINGTON, United States – The Republican-controlled US House of Representatives passed a landmark tax overhaul Tuesday, bringing Donald Trump one step closer to a major legislative triumph as the first year of his presidency draws to a close. Republicans received zero Democratic support as they passed the contentious $1.5-trillion package of tax cuts for businesses and individuals that critics say will particularly benefit the wealthy. The most comprehensive revamp of the nation’s […]

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Tokyo stocks open higher on US tax-cut hopes

TOKYO, Japan (AFP) — Tokyo stocks opened higher on Friday, boosted by exporters and banks as the yen fell against the dollar on hopes for US President Donald Trump’s much-anticipated tax cut. The benchmark Nikkei 225 index rose 0.59 percent, or 129.16, to 21,868.94 in early trade, while the broader Topix index was up 0.44 percent, or 7.69 points, at 1,761.59. “Japanese stocks will test higher prices as investors cheer a rebound in the New […]

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Trump administration unveils ambitious tax overhaul

WASHINGTON, United States (AFP) – The White House unveiled an ambitious tax overhaul plan Wednesday, proposing deep cuts for individuals and businesses in what it called one of the biggest tax reforms in US history. President Donald Trump’s initiative — outlined in a one-page summary — lowers the top corporate tax rate “from one of the highest in the world to one of the lowest,” from 35 percent to 15 percent, while simplifying individual tax rules, […]

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