President Trump wants to cut the corporate tax rate to as low as 15% from a top rate of 35%, but Congress reportedly is looking to split the difference. Negotiations between the White House and Congress appear to be focusing on a rate closer to 23%, according to the Washington Post. Asked if a 15% goal was feasible, Treasury Secretary Steven Mnuchin was not sure the US could achieve that.In the wake of the failure to terminate Obamacare, Republicans are looking for a quick victory on tax cuts before year end. They want to reduce the corporate rate, help small businesses, and offer relief to the middle-class.
The Labor Department repors that job openings edged up to 6.17 million in July from 6.12 million in June. It’s the first time openings have topped 6 million for two months in a row since the government began keeping track in 2000. Employment has rebounded dramatically since the bottom of the 2007-2009 recession, when job opening fell to 2.2 million. Almost 17 million new jobs have been created since 2010. The number of people hired lagged behind total job openings. 5.5 million people were hired, up 69,000 from June.
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.