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Economy reform taxes Top News Trump White House 

White House plans to release tax reform framework in September: sources

August 11, 2017 By David Morgan WASHINGTON (Reuters) – The White House plans to release a brief document in early- to mid-September outlining a framework for overhauling the U.S. tax code, according to three sources familiar with the matter. In a sign of the Trump administration’s struggles to advance its domestic policy agenda, the three-to-five-page document would not be accompanied by tax legislation, as some had expected, said the sources, who were not authorized to speak publicly. But the framework would come from the “Big Six” congressional and administration leaders…

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Economy government month pension reform Top News 

Puerto Rico oversight board orders furloughs, governor defiant

August 5, 2017 By Daniel Bases (Reuters) – Puerto Rico’s federally appointed financial oversight board said on Friday it will institute a two-day per month work furlough for government employees, but a defiant Governor Ricardo Rossello rejected the measure out of hand. The plan, which originally envisioned a four-day per month furlough, is set to begin on Sept. 1 and last throughout the 2018 fiscal year in an effort to achieve $218 million in savings. It excludes frontline law enforcement personnel. Rossello openly challenged the board’s authority to impose the…

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Economy reform tax cuts Thomson Reuters Datastream Top News U.S. 

Small-cap rally could shrink on earnings, tax reform hurdles

July 21, 2017 By Caroline Valetkevitch NEW YORK (Reuters) – Optimism is souring around small-cap stocks for some investors, with a host of factors conspiring to up-end gains that have taken them to record highs. Small-caps, which led the market’s rally just after the Nov. 8 election of Donald Trump as U.S. president, are facing weak earnings forecasts, little progress on tax reform and recent outflows. “We have downside risk here. Earnings numbers aren’t great, and valuations are … pretty rich,” said Steven DeSanctis, equity strategist at Jefferies. Investors had…

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Economy House reform tax Top News U.S. 

Ryan says U.S. tax reform consensus nears, does not mention border tax

July 20, 2017 By David Morgan WASHINGTON (Reuters) – U.S. House Speaker Paul Ryan said on Thursday that tax reform talks are nearing a consensus to lower business taxes by closing loopholes and special interest deductions, the latest sign that the unpopular proposed border tax may not be included. Speaking at a New Balance shoe factory in Massachusetts, Ryan stressed the need to “level the playing field” for U.S. companies and their foreign competitors but failed to mention the border adjustment tax, or BAT, which has been his main policy…

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Economy House Republicans reform tax Top News U.S. 

After healthcare failure, Republicans face similar divisions on tax reform

July 18, 2017 By David Morgan WASHINGTON (Reuters) – Republicans in Congress unveiled a fiscal 2018 budget plan as a first step to major U.S. tax reform on Tuesday, only to face the same divisions between conservatives and moderates that helped killed their efforts to replace Obamacare. The $4 trillion spending blueprint, released by the House of Representatives budget committee, could become a new flashpoint for Republican in-fighting because it links future tax cuts for businesses and individuals with $203 billion in mandatory spending cuts that would reduce benefits for…

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border Business reform tax cuts U.S. 

Corporate tax reform negotiators aim above Trump’s 15 percent pledge

July 17, 2017 By David Morgan WASHINGTON (Reuters) – President Donald Trump campaigned on cutting the U.S. corporate tax rate to 15 percent, but administration officials said on Monday negotiators engaged in closed-door talks are now shooting for a little over 20 percent because they realize the super-low rate would balloon the federal deficit. Republican leaders in the House of Representatives and the Senate are unlikely to allow the budget deficit to grow, so officials said they now hope for a corporate tax at the low end of a 20…

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Business industry Mexico America Movil reform Tech Top News 

Mexico’s America Movil details argument in telecom dispute

July 6, 2017 MEXICO CITY (Reuters) – Billionaire Carlos Slim’s America Movil argued on Wednesday against rules brought in by an overhaul of the country’s telecommunications industry, saying in a statement they were unfair and had led to a loss of its business rights. In the latest chapter in a fight that could shape the future of competition in the sector, the supreme court is considering whether to undo parts of an overhaul that tilted the playing field against Slim’s long-dominant America Movil and led to steep drops in prices…

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Beijing China debt Economy reform Top News 

China’s top banking regulator tells banks to push forward with reform

June 24, 2017 BEIJING (Reuters) – China’s top banking regulator has told banks to reform by tackling China’s “zombie firms”, control regional housing market bubbles and push forward with debt to equity swaps, according to a statement posted on the regulator’s website late Friday. Guo Shuqing, who was appointed chairman of China’s banking regulator in February, met with representatives from a number of the country’s largest commercial banks on Friday to check up on their progress implementing the central government’s reform agenda. Beijing is promoting supply-side structural reform as a…

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Economy immigration Mexico rates reform Top News 

Fed should be cautious on further rate hikes, Kaplan says

June 16, 2017 By Ann Saphir DALLAS (Reuters) – The Federal Reserve should be cautious about any further interest-rate hikes, Dallas Federal Reserve President Robert Kaplan said on Friday, just two days after he voted with the majority of his colleagues to raise rates for the second time this year. “We should be very careful about raising rates and we should do it patiently and carefully,” Kaplan said at a meeting of the Park Cities Rotary Club in Dallas, adding that he will need to see improvements in inflation, which…

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Economy House Freedom Caucus House of Representatives reform tax Top News 

House Freedom Caucus chief calls for U.S. tax reform plan by end-July

June 9, 2017 WASHINGTON (Reuters) – Members of the House Freedom Caucus called on congressional leaders Friday to introduce a formal tax reform proposal by the end of July, and suggested they could support a 2018 budget deal in exchange for adding welfare reform to any tax overhaul. The conservative bloc, which has enough members to stymie legislation in the Republican-controlled House of Representatives, will play a key role in efforts to agree on a 2018 fiscal plan that could determine whether President Donald Trump and Congress can deliver the…

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