President Signs Historic Tax Cuts And Jobs Act; Stocks Drop A Fraction

Published Friday, December 22, 2017 at: 7:00 AM EST

The most sweeping revision to the federal tax system was signed into law by President Donald J. Trump on Friday, and stock prices reacted by dropping a fraction. Why did the signing of the new tax law elicit a yawn from American investors? Stock prices have soared all year, partly on expectations of a corporate tax break. The months of Washington, D.C. drama started last February 9 when President Trump promised a "phenomenal" new tax law, which was followed by a stock surge.In September, after Republican House and Senate leadership announced an agreement with top Trump administration officials on...

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This article was written by a veteran financial journalist based on data compiled and analyzed by independent economist, Fritz Meyer. While these are sources we believe to be reliable, the information is not intended to be used as financial advice without consulting a professional about your personal situation.

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