The White House Confirms Economy Is Firming Up: Top 5 Gainers
Zacks Investment Research | Mar 28, 2018 08:56AM ET
The White House issued a statement on Mar 27 underlining Trump administration’s efforts to bolster economic growth. The White House categorically said that consumer and business sentiments continue to improve as Trump’s business-friendly policies are aiding the U.S. economy expand after eight years of stagnation. That’s welcome news coming from a White House that has been in the eye of the storm of late.
Since Americans gained optimism over an improving economy and declining unemployment, things have been looking up for consumer discretionary stocks.
Tax Cut Policy
Corporate America has received a massive permanent tax break, which will boost profit margin. The House of Representatives approved the biggest overhaul of the U.S. tax code in 30 years. In a headline-grabbing move, the corporate tax rate was lowered from 35% to 21%. Republicans also repealed the 20% corporate alternative minimum tax, while any income brought back from overseas will be taxed 8% to 15.5%, instead of the current 35% (read more: Original post
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