In the week ending 8 December, US large-cap ETFs attracted huge inflows, according to data from TrackInsight, as US President Donald Trump moved a step closer to passing the biggest overhaul of the country's tax system in 30 years.
US large-cap ETFs saw inflows of €9.1bn versus €5.2bn the week prior, as investors became even more bullish about the impact Trump's tax cuts could have on businesses. The Senate passed the Tax Cuts and Jobs Acts by 51 votes to 49 on 2 December with Senator Bob Corker the only Republican to vote against the bill. However, after negotiations between the Senate and House of Representatives, a 503-page bill was published on 15 December with Corker announcing plans to reverse his decision and vote for the bill this week. The measures include cutting corporation tax from 35% to 21% and ...
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