Tax planning

President Donald Trump predicted the U.S. economy is “going to start to rock” when the Republican rewrite of the U.S. tax code is complete after a six-week sprint.

This week marks the last leg of Republicans’ push to revamp the U.S. tax code, with both the House and Senate planning to vote by Wednesday on final legislation before sending it to President Donald Trump.

The Republican tax bill that’s on the brink of passage would vault America’s corporate tax rate into a much more competitive position globally and deliver temporary tax cuts to a broad range of people.

Now that Republicans in Congress have released their final tax bill, two big questions remain. What will companies do with all that cash, and who will benefit the most?

Investors have dodged a rule change that could have raised their tax bills when they sell stock.

Half the public thinks they’ll pay higher taxes under the Republican overhaul making its way through Congress in a new Monmouth University poll, underscoring the difficulty the party faces in selling what would be President Donald Trump’s biggest legislative victory to date.

At the end of every year, millions of Americans can make strategic moves to shave a few bucks off their April tax bill. Right now, millions more should be able to get into the act, with Congressional Republicans poised to pass a 503-page law that fundamentally restructures the U.S. tax code.

The top tax rate that U.S. companies would pay on an estimated $3.1 trillion in earnings they’ve stockpiled overseas crept up to 15.5 percent in the final version of the GOP tax bill released Friday.

Assuming the GOP bill passes, it will still need to be implemented, and a technical corrections bill issued.

Last-minute changes to the Republican tax bill contain an unpleasant surprise for married couples who make between $600,000 and $1 million: They won’t be getting as big a tax cut as lawmakers planned earlier.