Long Awaited Tax Reform Plan to be Unveiled Today, Tax Cuts Expected - TheStreet

Long Awaited Tax Reform Plan to Be Unveiled Today, Tax Cuts Expected

President Trump is expected to make a legislative push for tax reform in the fall.
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President Trump is expected to make a legislative push for tax reform in the fall. He will kick off the campaign for tax reform in Springfield, Missouri today. Reports of the speech say the President will propose tax cuts across the board to end what he calls a 'rigged system' that has led to the end of shared prosperity in the United States. Oil prices are down and gas is higher as Hurricane Harvey made a 2nd landfall near the Louisiana-Texas border, flooding that area. The storm threatens to dump another 3-6 inches from Louisiana up to Western Kentucky. Meanwhile, Goldman Sachs predicts Harvey will hurt Gross Domestic Product growth in the quarter due to energy disruptions, lower retail sales and higher jobless claims. North Korea is continuing its tough talk. The BBC reports that leader Kim Jung Un says the missile fired over Japan this week was just 'the first step'. The United Nations Security Council responded by adopting a statement of condemnation.

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