U.S. stock Market Slips As Investors Précis Tax Bill Plan

U.S. stocks dropped in Thursday trading day while investors digested a review of the much-anticipated tax-cut bill that promises a range of changes to the tax code.

The bill proposed cutting corporate tax rate to 20% from 35% and reducing the number of tax sections for individuals.

The proposed tax bill would be made public today, according to a spokesman for House Speaker Paul Ryan. “The idea of this plan getting approved is still a long shot,” said Phil Blancato,

Congress has not resulted in comprehensive tax changes since 1986 when Republican Ronald Reagan was in the White House and Democrats dominated the House.

President Donald Trump’s campaign promises of tax cuts, higher infrastructure investments and deregulation have driven the S&P to gain 20.4 percent since the election.

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