Senate Passes Tax Legislation

President Trump and GOP senators claim a major victory, as the senate tax bill passes on the floor. The legislation was approved early Saturday morning by a 51 to 49 vote. Now, the Senate and House will come together to compromise on one final unified bill, which will then be voted on and signed by the President.

Report: GOP tax plans could incentivize companies to bring money back to u.s.

The republican’s proposed tax plans has received praise for slashing corporate rates, but economists say new tax reform will also help bring back cash from offshore accounts. A report, published by Moody’s Investor Service, claims offshore cash reserves are expected to expand to 1.4 trillion dollars by the end of the year – an eight percent increase.