U.S. Treasury Secretary Steve Mnuchin said the plan for "the biggest tax cut" in U.S. history due to be released later on Wednesday by the White House would cut the business tax rate to 15 percent, including for small businesses. "This is going to be the biggest tax cut and the largest tax reform in the history of our country," Mnuchin said at a news forum in Washington.
Trump tax plan slashing business rates to test support in Congress
U.S. President Donald Trump will release a tax plan on Wednesday proposing some deep rate cuts, mostly for businesses, including a slashed corporate income tax rate and steeply discounted tax rate for overseas corporate profits brought into the United States, officials said. Trump intends for his broad blueprint, which will fall short of the kind of comprehensive tax reform that Republicans have long discussed, to be a guidepost for lawmakers in the U.S. House of Representatives and Senate. "We're driving this a little bit more," a senior White House official told a group of reporters late on Tuesday.
Giant rabbit dies on United Airlines flight to United States
A 3-foot giant rabbit has died on a United Airlines flight from London, prompting a review at the Chicago-based airline which faced a global backlash this month over its treatment of a passenger who was dragged from his seat. The 10-month old rabbit named Simon, who was tipped to become one of the world's largest rabbits, was traveling to O'Hare in Chicago from Britain after a celebrity owner purchased him. "Simon had a vet’s check-up three hours before the flight and was fit as a fiddle," breeder Annette Edwards told The Sun newspaper.
Exclusive: A New York hotel deal shows how some public pension funds help to enrich Trump
Public pension funds in at least seven U.S. states have invested millions of dollars in an investment fund that owns a New York hotel and pays one of President Donald Trump's companies to run it, according to a Reuters review of public records. The Trump SoHo Hotel and Condominium in Manhattan is an upscale 46-story property owned by a Los Angeles investment group, the CIM Group, through one of its real estate funds.
Air travel to U.S. drops in first quarter, Canada, Mexico gain: ForwardKeys
Air passenger arrivals in the United States fell in the first quarter of the year, while arrivals in Canada and Mexico rose, according to data from travel analysis company ForwardKeys. Travelers from the Middle East and Europe were possibly deterred by uncertainty over President Donald Trump's travel ban on citizens of six Muslim-majority nations, as well as the strong dollar, it said on Wednesday. Long-haul arrivals in the U.S. dropped by 4.3 percent in the first quarter, ForwardKeys, which analyses 16 million flight booking transactions a day from major global reservation systems, said.