EUR/USD
1.13374
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Gold
3294.39
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Oil
57.868
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USD/JPY
142.877
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1.33412
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GBP/JPY
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Real-time News
On May 1, according to the Wall Street Journal, people familiar with the matter revealed that Republicans in the U.S. House of Representatives are seriously considering proposals to further limit tax breaks for corporate top pay, expanding the current restrictions that only apply to a small number of current or former executives with incomes over $1 million. These changes may be included in the trillion-dollar tax and spending bill that Republicans are drafting and trying to push through the House of Representatives this month. Discussions on this idea and other tax provisions are still ongoing, and lawmakers have not yet determined the details of which employees and employers will be affected. Limiting these tax breaks will increase taxes on companies and may indirectly hit high-income families, but perhaps this approach is more politically acceptable than raising the top marginal income tax rate for millionaires, which Trump recently considered and rejected. The resulting revenue can offset some of the tax cuts in the bill, including the extension of expiring provisions in the 2017 tax law, and Trumps plan to cancel the tip tax, overtime pay and social security benefits.European Commission: Twelve EU member states have requested to activate national exemption clauses to increase defense spending.According to the Wall Street Journal: Republicans in the U.S. House of Representatives are seriously considering a proposal to further limit corporate tax deductions for top pay.U.S. Department of Defense: The United States approves the sale of $425 million in post-deployment Patriot systems and related equipment to Kuwait.Market news: A U.S. House of Representatives committee canceled its proposal to remove the Federal Trade Commissions (FTC) antitrust authority from the budget plan.
