The S&P 500 is closing in on its all-time high, and is likely to sail past it, as long as the Fed promises lower interest rates and the trade war calms down.Market Insiderread more
In a tweet, Trump said that he and Xi "had a very good telephone conversation," and that "our respective teams will begin talks prior to our meeting."Politicsread more
A Bloomberg News report Tuesday morning said the White House had looked at such a move in February.Marketsread more
President Donald Trump on Tuesday announced that he will not nominate acting Defense Secretary Patrick Shanahan to hold the position in a permanent capacity. Army Secretary...Politicsread more
Stocks surged after President Donald Trump said he will be meeting with his Chinese counterpart, Xi Jinping, at the upcoming G-20 summit.US Marketsread more
The move is part of a larger trend that saw the survey's 179 participants move away from risk and toward positions that reflect fear of a coming economic slowdown spurred by a...Marketsread more
Democratic frontrunner Joe Biden on Monday appealed to a billionaire Republican donor for fundraising help in his presidential campaign. But the financier, Trump-supporting...Politicsread more
Facebook and other groups are behind a new programming language for working with the Libra blockchain.Technologyread more
Tesla investors are regaining confidence in a quieter Elon Musk — even as they question the company's ability to hit its production goals for the second quarter.Autosread more
Long-time blockchain technologists say Facebook's Libra digital currency will introduce billions to cryptocurrencies, but the company's problems with trust and privacy remain...Technologyread more
Valisure, an online pharmacy company, told the FDA that high levels of dimethylformamide were found in valsartan, a drug produced by Swiss drugmaker Novartis and other...Health and Scienceread more
Republican Sen. Ron Johnson told CNBC on Thursday he wants to fix the GOP tax reform bill so he can support it.
However, he said he doesn't have enough information about the measure to even propose an amendment to change what he doesn't like.
"It's not a real good process," the Wisconsin lawmaker said. "The House is voting on theirs today. We're going to be voting on ours right after Thanksgiving."
After another day of debating the Senate tax plan, the Senate Finance Committee is expected to vote on whether to advance their measure on Friday.
Johnson said he's been working for months behind the scenes to make changes, but he added that he's not going to let his "version of perfect" sink tax reform. "I want to get this thing fixed, and vote for pro-growth tax reform that makes all American businesses competitive globally," he said. "I care deeply about this country, I care deeply about this deficit."
As a former small business owner, Johnson said he's particularly concerned about the so-called pass-through rate, in which the profits and losses of sole proprietorships, partnerships, and S-corporations "pass through" to their owners who are then taxed at individual income-tax rates, currently as high as 39.6 percent.
"We can't leave anybody behind, which is why they came up with the 25 rate for pass throughs," he said. "The problem is, neither the House or the Senate version really honored that commitment to pass-through businesses, which I argue are a huge engine of economic growth."
"I don't have the information on how much it would cost, how many pass-through businesses are being left behind that do compete globally. I can't get the information. I've been asking. They don't give it to me," said Johnson, chairman of the Senate Homeland Security Committee.
Johnson said President Donald Trump called him on Wednesday night about pass throughs and told him that he's "meeting with Treasury officials today. "
"'I will work my tail off over the weekend to fix this problem,'" Johnson quoted Trump as saying.
Johnson appeared on CNBC before the Joint Committee on Taxation released on Thursday its latest look at the GOP Senate bill.
Republicans hold only a two-seat majority in the Senate, so the GOP has little margin for defections because Democrats are uniformly opposed to the plan. Sens. Susan Collins of Maine, Bob Corker of Tennessee and John McCain of Arizona have also voiced concerns over the tax plan. They refused to say whether they would ultimately vote for the bill.
The Senate's tax plan, unveiled last week, includes cutting the corporate tax rate from 35 percent to 20 percent and making broad tweaks to the individual tax system.
— Reuters contributed to this report.