President Donald Trump said Monday he's in no rush to respond to a coordinated attack that hit Saudi Arabia's oil industry over the weekend.Marketsread more
The price of oil could go sharply higher, depending on the duration of the disruption at Saudi oil facilities and whether there is a military response.Powering the Futureread more
Energy stocks, one of the worst-performing sectors this year, spiked Monday after an attack on Saudi Arabia's heart of oil production Saturday sent oil prices soaring.Marketsread more
The Saudi-led military coalition battling Yemen's Houthi movement said on Monday that the attack on Saudi oil plants was carried out by Iranian weapons and did not originate...Oilread more
"The United States military, with our interagency team, is working with our partners to address this unprecedented attack and defend the international rules-based order that...Politicsread more
Crude oil's spike following attacks on Saudi Arabia's energy supply has experts weighing whether or not the gains will last.ETF Edgeread more
"In the old days, the averages would've plunged on this kind of oil shock. I know because I've lived through a bunch of them, starting in 1973," Jim Cramer says.Mad Money with Jim Cramerread more
Traders in the fed funds futures market on Monday were pricing in a 34% chance that the Fed will stay put on rates.The Fedread more
The meeting comes amid months of stalled trade talks between Washington and New Delhi, resulting in both sides taking retaliatory measures.Asia Politicsread more
Gas prices could rise by about 20 cents per gallon "starting tomorrow," oil analyst Andy Lipow says Monday.Oil and Gasread more
Some operators are cashing in on the CBD craze by substituting cheap and illegal synthetic marijuana for natural CBD in vapes and edibles such as gummy bears, an AP...Health and Scienceread more
Treasury Secretary Steven Mnuchin confirms that the tax plan the Trump administration will outline Wednesday afternoon will call for a 15 percent corporate rate.
At an event hosted by The Hill, Mnuchin — who declined to go into many specifics about the proposal — contended it would be "the biggest tax cut and the largest tax reform in the history of our country." The Treasury secretary did not set a specific goal for when he wants a tax bill to pass, but
He said the White House wants a "combined plan" with the House and Senate, which could potentially clash with the administration over some provisions.
"I think it's clear that the House, the Senate and the administration are all on the same page," Mnuchin said.
Mnuchin and White House chief economic advisor Gary Cohn are expected to go into more detail about the plan — which appears to largely resemble President Donald Trump's campaign pledge — at a briefing later in the day. Mnuchin had set a goal of passing the first tax reform since 1986 by August, but the White House has recently backed off that deadline, signaling it wants to pass a plan by the end of the year.
Tax reform can prove an arduous process in which lawmakers have to balance the concerns of various stakeholders.
When Trump floated a 15 percent corporate tax rate as a candidate, analyses of the proposal estimated that it could add
The White House appears not to support one possible revenue-raising tool, the controversial border adjustment provision included in the House tax plan.
"We don't think it works in its current form, and we're going to continue to have discussions with them about revisions," Mnuchin said.
House Speaker Paul Ryan saw a preview of the plan and said the House is in "80 percent agreement," according to Reuters.
Mnuchin also did not answer whether the plan would hold to his previous comment that "there will be no absolute tax cut for the upper class." Speaking to CNBC in November, Mnuchin said any tax cuts for the wealthy "will be offset by
Here are other potential aspects sought by Trump, according to reports: