Business tax rate expected to drop to 15%


The markets traded higher during the midday with the Dow gaining 52 points to 21,048. Nasdaq added 5 points to 6,030.

The Trump administration is scheduled to unveil its tax plan today. The tax rate for all types of companies from big corporations to pass-through businesses are expected to be slashed from a high of 39.6% to 15% which would reduce federal revenue by approximately $400 billion a year. Individual tax rates are not expected to be cut.

Tesla's Model S sedan was the first product to ever receive a perfect score from Consumer Reports when the luxury electric performance vehicle was reviewed in 2015. The magazine just lowered the ratings of both the Model S and the Model X crossover citing Tesla's failure to add automatic emergency braking as a safety feature. Tesla said that it is updating the software of all vehicles to include automatic emergency braking.

Google introduced a new feature to Google Maps that will save the location of a user's parked car. After parking, the user taps the blue dot in Google Maps that identifies their location. Then, the user taps "Save your parking" to save the location in Google Maps. Notes can be added to the saved locations such as the parking garage level or the amount of time on the parking meter.

In the broad market, advancing issues outpaced decliners by a margin of more than 5 to 2 on the NYSE and by more than 2 to 1 on Nasdaq. The broader S&P 500 index rose 4 points to 2,393. Bitcoin climbed $26 to $1292.

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This page contains a single entry by published on April 26, 2017 9:32 AM.

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