An oil processing facility at Abqaiq and the nearby Khurais oil field was attacked on Saturday.Marketsread more
"There is reason to believe that we know the culprit," Trump said in a post on Twitter.Politicsread more
Stocks fell on Monday amid fears that a surge in oil prices following an attack in Saudi Arabia could slow down global economic growth.Marketsread more
President Donald Trump signaled Iran is not telling the truth about the drone attacks on Saudi Arabia's largest oil facilities.Oilread 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
U.S. Secretary of Energy Rick Perry spoke to CNBC's "Squawk on the Street" on Monday following a series of drone attacks on Saudi Arabia's oil facilities caused the largest...Oilread more
Perry says it's too soon to say whether the U.S. will need to use its emergency crude reserves to offset the surge in oil prices.Oilread more
An extended Saudi oil outage could push Brent crude prices north of $75 per barrel, Goldman Sachs warned clients.Marketsread more
As investors worry about oil supply, airline and cruise ship stocks are getting hit, while some energy stocks are shooting upward.Marketsread more
Consumers in the U.S. prefer Apple's more expensive models, while the standard iPhone 11 appears to be more attractive to buyers in China, according to analyst Ming-Chi Kuo.Technologyread more
The Times updated an article detailing a previously unreported accusation against Supreme Court Justice Kavanaugh from when he was a Yale University student, noting that "the...Politicsread more
This means the Senate health-care bill's tax breaks would go primarily to the wealthy, with 40 percent of savings going to the top 1 percent of earners and 64 percent of savings going to the top 20 percent of earners.
"The tax provisions are pretty much unchanged, except for some implementation dates," Gordon Mermin, senior research associate at the Urban-Brookings Tax Policy Center, told CNBC. "Substantively it's the same as what's passed the House."
In March, the Tax Policy Center modeled the distribution results of the American Health Care Act's tax provisions to find where the $992 billion in tax cuts would end up. There are only "minor exceptions," Mermin said, as the Republican bill proposed Thursday retains the same provisions as the version proposed earlier this year.
The result of the Senate's bill is a time delay for some tax cuts, at most. The Tax Policy Center's table, which can be viewed on their website, is valid for the new bill when analyzed as showing results from 2023 onward.
"It was huge what they did on cutting taxes for the rich" in the GOP's measure to replace Obamacare, Buffett said on CNBC's at that time. "If there's one clear-cut message that comes out of that bill it is we're going to cut the hell out of income taxes for the rich on investment income."
The tax cuts include a repeal of a 3.8 percent investment tax — such as capital gains — and a 0.9 percent Medicare payroll tax. Both of those apply to individuals earning $200,000 or more a year and couples earning more than $250,000.
Buffett said his personal tax bill would be 17 percent lower under the GOP health measure — about $680,000 on his tax bill of a "little less than $4 million."
"I've had years when it's been a lot more than $680,000. But I'm $680,000 better off if everything else is equal just because of what happened last week," Buffett added.