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Newspaper
The Chronicle Telegram
Location
Elyria, Ohio, United States of America
Date
Dec 12, 2017
Page
3
President Trump campaigns for a sweeping tax reform plan amid Democratic criticism and divided forecasts. The House and Senate bills mix corporate cuts with smaller individual relief, while negotiators rush to complete a final package before Christmas.
Analysts say the Treasury memo relies on a 2.9 percent growth projection over 10 years to claim the tax cuts would pay for themselves. Outside analyses forecast deficits rising by about 1 trillion dollars or more, even after some growth is assumed. Economists call the memo misleading and point to slower growth and higher debt.
The January bitcoin futures contract on Cboe jumped about 20 percent to finish near 18 545 as trading began on Sunday and peaked at 18 850. Broker firms joined the activity while Cboe faced site slowdowns and two halts amid surging interest and worries of a bubble.
Technology stocks gain as markets set new highs while investors await the Federal Reserve policy outcome. Apple confirms it will acquire Shazam for about 400 million dollars, integrating song recognition into its services and Siri.
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