This update primarily serves to log the tax plan highlights. There hasn't been a major market reaction since their release as many were already circulating before the full list came out (right at 3pm ET). If anything, bonds are just a tad weaker in the past few minutes.
- U.S. SENATE TAX PROPOSAL SETS PERMANENT 20-PCT CORPORATE TAX RATE WITH 1-YEAR DELAY - FINANCE COMMITTEE AIDES
- SENATE TAX PLAN MEETS $1.5 TRILLION FEDERAL DEFICIT CEILING FOR TAX LEGISLATION - AIDES
- SENATE PLAN KEEPS 7 INDIVIDUAL TAX BRACKETS, SETS 38.5-PCT TOP EARNERS RATE, DOWN FROM 39.6 PCT
- SENATE PLAN SETS 10-PCT TAX RATE FOR U.S. COMPANIES WITH IP IN FOREIGN LOW-TAX JURISDICTIONS
- SENATE TAX PLAN ELIMINATES NET OPERATING LOSS CARRY-BACKS FOR BUSINESSES
- SENATE PLAN FULLY ENDS INDIVIDUAL DEDUCTION FOR STATE AND LOCAL TAXES, KEEPS BUSINESS DEDUCTION
- SENATE PLAN DOES NOT REPEAL FEDERAL ESTATE TAX ON INHERITANCES, BUT DOUBLES EXEMPTIONS - AIDES
- SENATE PLAN ALLOWS FULL EXPENSING ON BUSINESS CAPITAL INVESTMENTS FOR FIVE YEARS - AIDES
- SENATE PLAN SETS NO SPECIAL 'PASS-THROUGH' TAX RATE, LETS BUSINESS OWNERS DEDUCT ABOUT 17.4 PCT OF BUSINESS INCOME FROM INDIVIDUAL TAX - AIDES
- SENATE PASS-THROUGH PROPOSAL TRANSLATES TO TAX RATE IN LOW 30 PCT RANGE FOR TOP EARNERS - AIDES
- SENATE PLAN SETS DEEMED REPATRIATION TAX ON OVERSEAS PROFITS AT 12 PCT FOR LIQUID ASSETS, 5 PCT FOR ILLIQUID ASSETS
- SENATE PLAN EXPANDS U.S. CHILD TAX CREDIT TO $1,650 - AIDES
- SENATE PLAN LEAVES CARRIED INTEREST LOOPHOLE UNCHANGED - AIDES SENATE PLAN LEAVES HOME MORTGAGE INTEREST DEDUCTION UNCHANGED, ENDS BENEFIT FOR HOME EQUITY LOANS
