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Celebrating the passing of the bill on the White House lawn he said the decision was pretty good, and promised further announcements.
From private school tax breaks to bigger inheritances, 7 ways rich people win big if tax reform passes T17:17:0001:00 T16:26:1801:00 T17:17:4301:00 g 500 250, businessInsiderDe g, the GOP's proposed tax reform bill will give a boost to the wealthiest in the country.
Image source: Getty Images.However, initial indications suggest that this critical assumption has failed miserably to take shape.An ongoing bull-market run in stocks has the potential to inspire confidence in the.S.Trump hailed a 'historic' victory Wednesday as the US Congress passed a massive Republican tax cut plan, handing the president his first major legislative achievement since taking office nearly a year ago.Wells Fargo topped the list, with.5 billion in announced buybacks followed by JPMorgan Chase's.7 billion, Bank of America's.6 billion, and Citigroup's.6 billion in repurchases not far behind.If you want a more thorough explanation of everything the Tax Cuts and Jobs Act does and doesn't do for taxpayers, check out my colleague Matthew Frankel's detailed explanation of the law.But what can be said, assuming this data proves consistent over the next year and beyond, is that these stock buybacks represent both a blessing and a curse for Trump's tax plan.Essentially, it means that these initial indications could be a bit premature.And for parents, the Child Tax Credit was doubled to 2,000 and the amount of the credit that's refundable increased to 1,400.The Motley Fool has a disclosure policy.Workers should see the bonus over the course of the holiday period if the president signs the bill into law as is expected.Though Trump's tax plan still has time to prove these early indications wrong, it certainly appears to have gotten off on the wrong foot.Furthermore a one-off bonus of 1,000 would be payed to 13,500 employees, the company said.Under the GOP tax plan, corporate tax will be cut from 35 to 21 percent.The promises from the likes of AT T, Wells Fargo and Boeing followed.Telecommunications giant AT T said in a press release, double casino slots machine 4 u wednesday that once the bill came into effect it would invest an additional 1 billion into the.S.
The plan also cuts individual rates of tax.
They have 80,000 fewer employees today than they had then, Schumer said.