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Wall St takes a breather as tax bill moves closer to being signed into law

The S&P 500 has climbed about 5% since mid-November when the House passed its tax overhaul bill


US stocks were little changed on Wednesday as the long-awaited tax bill was all but assured of becoming law, allowing investors to take a breather after a month-long rally in anticipation of the largest overhaul of the US tax code in 30 years. The bill was approved on a 51-48 vote, but was sent back to the House of Representatives for a re-vote by the Senate due to a procedural snag. It is expected to be passed. The proposed changes include cutting the corporate tax rate to 21 percent from 35 percent from Jan. 1, which is expected to boost company earnings and lead to higher ...

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First Published: Wed, December 20 2017. 21:53 IST