The massive market transformation this month that some on Wall Street called a "once in a decade opportunity" might have just been a one-off technical move because of taxes.Marketsread more
The Pentagon will deploy U.S. forces to the Middle East on the heels of the attack on Saudi Arabian oil facilities, United States Secretary of Defense Mark Esper announced...Defenseread more
CNBC did a deep dive through the most recent Wall Street research to find stocks that analysts say are underappreciated.Marketsread more
Shares of MasterCard are up 46% this year, and 1120% since 2011, getting a boost from the strong U.S. consumer.Investingread more
CNBC sat in on an "empathy training" at Amazon PillPack's Somerville offices, which is part of new hire orientation.Technologyread more
Trade with China is the 'big unknown' for the Federal Reserve as it decides how best to support the U.S. economy, says Council on Foreign Relations Director of International...Futures Nowread more
Lobbying experts said the visit is likely an attempt to be in lawmakers' ears as they consider legislation that would impact Facebook.Technologyread more
Yardeni Research's Edward Yardeni believes the U.S. economy is picking up steam.Trading Nationread more
Iran's audacious drone and cruise missile attack on Saudi Arabia's oil producing facilities has provided a critical test yet for the Trump administration's foreign policy. A...Politicsread more
Chinese trade negotiators suddenly canceled a visit to meet U.S. farmers after they wrapped up trade talks in Washington this week.Marketsread more
Tax relief for the middle class is the "heart" of the Republican tax plan expected to become law in the coming days, President Donald Trump said Wednesday.
Moments after touting middle-class benefits, however, Trump noted that slashing the corporate tax rate is "probably the biggest factor" in the GOP legislation.
"Our plan also lowers the tax on American business from 35 percent all the way down to 21 percent. That's probably the biggest factor in this plan," he said at a Cabinet meeting. "We've become competitive all over the world. Our companies won't be leaving our country any longer because our tax burden is so high."
The president called it "above all else a jobs bill," contending that changes to the business tax structure would encourage more companies to relocate operations to the U.S. and hire more workers. While hiring is a major piece of the GOP argument for the tax cuts, some company executives have already signaled businesses are more likely to use their tax savings for share repurchases rather than for hiring or worker wage increases.
House and Senate Republicans have promoted the legislation passed by both chambers of Congress this week as primarily a tool to increase wages and take-home pay for workers.
The bill would permanently chop taxes on businesses while temporarily reducing the burden on most, but not all, individual taxpayers. While congressional and independent analyses project most income groups would get a tax cut next year, their benefits under the plan would dissipate as most individual tax cuts expire after 2025.
Republican congressional leaders say they plan to extend those cuts. Democrats have accused them of prioritizing tax breaks for corporations over those for individuals.
After the Senate approved the bill early Wednesday, Senate Majority Leader Mitch McConnell said Americans would "value and appreciate" the plan.
"If we can't sell this to the American people we ought to go into another line of work," he said.