Tax Reform Details Spark Applause on Wall Street

Excerpt below:

Washington’s Republican leadership has finally released the details of a tax-reform package it plans to fight for in coming months. Some professional investors are giving it a thumb’s up and expect it to be a boon for the economy and the stock market.

“After 10 months of waiting, we are finally into the details,” says David Kotok, chairman and chief investment officer of Cumberland Advisors. “That’s a positive for markets.”

Institutional investors have fixated primarily on efforts to lower the corporate tax rate, which could boost corporate profits by billions of dollars a year. The plan, which was first released Wednesday in a report from the Washington Post, would seek to lower the corporate tax rate to 20% from the current 35%, aligning the U.S. rate more closely with rates of many other developed nations.

Read the full article at Barron’s:

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