Trump’s tax discounts for 2017 on the right track to extend it

The 2017 tax discounts and jobs law, the cornerstone of the president Donald Trump The first chapter, which will end at the end of the year, on the road to revival.

“I hope we will have a significant and sealed tax bill by July 4 that would give a great guarantee to American companies and the American consumer, and to provide a real driving force for the American economy, just as the tax law did in 2018, 2019, and even during Covid,” said Treasury Secretary Scott Payette during an interview on Tuesday at Fox Production.

Member Senate and House of Representatives They work in “Lockstep” to put the details. Parliament Speaker Mike Johnson, R, was no. He originally hoped for the deadline on the day of the anniversary, but it is comfortable to progress.

“I think it will send a very important signal to the bond markets, the stock market, investors and job creators here and around the world, and it will send a message to our allies and enemies that America is dangerous. We have settled in the tax policy. Intuitive.

10 years of treasury and stocks

the 10 years of return treasuryWhich witnessed severe upward fluctuations, directed a decrease to 4.158 %, a sign that interest rates may be mitigated. The Federal Reserve will hold its next meeting on May 7, and there is no change in prices, according to the Fedwatch tool for the CME.

While the S&P 500, the largest scale for the stock market, decreased by 6 % of the year. However, it came out of its correction, a decrease of 10 % of the highest level last week.

The updated bill may include some reward provisions.

The interest of the auto loan is discount

“One of his programs (Trump) is the interest in automatic car loans that were made in America, both new and used, is exempt from taxes.”

index	protection	last	Changing	% Change
General Motors	General Motors Company.	45.05	-0.19	-0.42 %
and	Ford Motor Company.	10.18	+0.17	+1.70 %
TM	Toyota Motor Corp.	190.58	-64	-0.33 %
Timing	Tesla Inc.	280.52	-1.64	-58 %
hymn	Hyundai Motor Co. Ltd.	50.2	+1.10	+2.24 %

Average The annual percentage of new cars It came in 7.1 % in the first quarter, according to Edmonds. With the average loan period for new vehicles of 69.5 months, the car buyer is likely to be a hook for a monthly payment of $ 741.

Extensive manufacturing expenses

Another element expands expenses for manufacturers, which currently only includes equipment. “What we will add to that is 100 % expenditures for factories. So you will be able to calculate both equipment and structure,” note BESSENT.

American manufacturers, who are competing with China and other foreign countries, have been in support of the extension and/or making the current tax cuts for the current year 2017.

“Tax Reforms for the year 2017 President Trump It was already announced at the Board of Directors meeting in 2017, and when he said it would be missile fuel for the economy, if they were enact, it was already. These tax reforms led to investment registration, job creation and three -year wage growth after their age, “said Jay Timmons, CEO of the National Factory Society (NAM), recently Fox Business.

Nearly 6 million jobs will be lost if the discounts expire, according to a study conducted by the company NAM recently.

American jobs, $ 1.1T $ in GDP if Congress allows tax discounts in Trump: study

American economy He will face $ 540 billion of lost wages and a shortage of GDP 1.089 trillion dollars if the provisions of tax cuts and the remaining jobs end. In addition, if Congress does not maintain reforms, 1.137 million jobs in manufacturing, 126 billion dollars in compensation for manufacturing workers, and $ 284 billion in the manufacture of gross domestic product, similar.

The American economy shows signs of procrastination. First reading on The gross domestic product decreased by 0.3 %The first shrinkage since 2022. Two consecutive decreases will indicate an official recession.

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Fox News Daniel Wallace contributed to this report.