The GOP's plan to cut taxes is done. President Donald Trump still has to sign the bill into law, but it has cleared its biggest hurdles, passing a vote in both the Senate and House of Representatives on Wednesday.
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STOCKS SHRUG OFF TAX REFORM: Here's what you need to know
The GOP's plan to cut taxes is done. President Trump still has to sign the bill into law, but it has conquered its biggest hurdle.
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The bill is largely expected to provide a boost to stocks, in part because of a lower corporate tax rate and tax repatriation holiday. Some companies have already announced plans for the cash coming their way, but the stock market shrugged off the news.
The Dow, S&P, and Nasdaq all posted slight losses on Wednesday.
Here's the scoreboard:
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- Nasdaq:
- 2.46
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