Fox News

Trump Individual Tax Plan To Have 3 Brackets: 35%, 25%, & 10%

As the minutes tick by ahead of the announcement of "the greatest tax cut in human history," we are getting more information on the personal tax rates (something Treasury Secretary Mnuchin failed to mention earlier). As Fox News reports, in addition to raising deductions, the Trump administration will collapse the current seven-tier bracket system into just three tax brackets under the new plan, taxed at rates of 35 percent, 25 percent and 10 percent.

Frontrunning: April 26

  • Futures flat as Trump tax plan awaited (Reuters)
  • Trump’s 15% Tax Plan May Just Be His Opening Gambit (BBG)
  • Budget Director, After Health-Law Missteps, Preps for Spending Battle (WSJ)
  • 100 Days: Trump's victories dimmed by misfires (Reuters)
  • White House Intervened to Toughen Letter on Iran Nuclear Deal (WSJ)
  • Trump Changing Tactics on Tax After Health-Care Failure (BBG)

World Stocks Hit All Time High, S&P Futures Rise To Within 1% Of Record

World stocks hit a new record high on Tuesday, with investors still cheering Macron's victory in the first round of the French presidential election, supported by speculation about U.S. tax reform and the overnight report that Trump has conceded on the border wall, eliminating a government shutdown as a potential risk.

Frontrunning: April 24

  • French election relief sends Europe soaring (Reuters)
  • Gloves off as Le Pen and Macron pitch for final battle (Reuters)
  • French Runoff Creates Fresh Political Divisions (WSJ)
  • U.S. Government Shutdown May Hinge on Trump’s Demand for Mexico Wall (BBG)
  • Congress returns as Trump pressures Democrats ahead of funding deadline (Reuters)

Mulvaney: "Deal To Avoid Government Shutdown Could Come Today" But Won't Due To Border Wall

"The negotiations are ongoing and there's no reason we can't have an agreement there as early as today," Mick Mulvaney said on Fox News Sunday, however he admitted that that negotiations continue to be stuck on Trump's demand that Congress include $1.5 billion to begin a building a wall along the U.S.-Mexico border, an item Democrats view as a deal breaker.

Frontrunning: April 21

  • Attack overshadows last campaign day in France (Reuters)
  • Paris Gunman Was Questioned by Police in February (WSJ)
  • French PM knocks Le Pen, Fillon stance on security after Paris shooting (Reuters)
  • Battle zone scenes at Paris Champs Elysees (Reuters)
  • In ‘Buy American’ Push, Trump Is Starting in a Hole (WSJ)

Frontrunning: April 20

  • White House to risk shutdown as Trump searches for “win” (Politico)
  • Saudi Minister Wants OPEC Oil-Production Deal Extended, Perhaps for Less Than 6 Months (WSJ)
  • Russia denies Reuters report think tank drew up plan to sway U.S. election (Reuters)
  • Fed's Kaplan: Three rate rises this year 'still a good baseline' (Reuters)
  • Ex-Arconic CEO Sent Vague Threat to Hedge-Fund Boss (WSJ)