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U.S. President Donald Trump predicted that Sen. Jeff Flake will oppose the GOP tax bill, but the senator's office says he has not yet made up his mind.
The GOP tax plan will place a higher burden on those who earn $1 million but provide a break to everyone else, Mnuchin says.
U.S. home building jumped to a one-year high in October likely as disruptions caused by recent hurricanes in the South faded.
"We're very excited about the timeline," Treasury Secretary Steven Mnuchin says.
San Francisco Fed President John Williams said the economy is growing strongly enough to continue raising rates gradually to around 2.5 percent.
The Senate's latest tax plan would lavish billions on the wealthiest Americans but leave those at the bottom with higher taxes.
The economy faces higher deficits, lower benefits and near-zero interest rates unless Congress acts, the Fed's Loretta Mester says.
Home builder confidence rises as builders see more sales and increased buyer traffic.
U.S. corporate taxes within the 20 percent range would be a plus for the economy, said Morgan Stanley's James Gorman.
The number of Americans filing for unemployment benefits unexpectedly rose last week.
Import prices rose less than expected in October as an increase in the cost of imported petroleum and capital goods was offset by a decline in food prices.
"In the current form, I wouldn't vote for it," the Wisconsin Republican says.
Economists polled by Reuters expected industrial output to increase 0.5 percent in October.
Sen. Collins is back in the spotlight as a swing vote in the Senate as she questions combining a Republican tax-cut plan with a partial repeal of Obamacare.
Sex and booze made it into the congressional battle over taxes in a late-night revision.
Business leaders called into question one of Cohn's top arguments for slashing the corporate tax rate to 20 percent.
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