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US Senate Aide: Tax bill would repeal federal deductions for state and local income

Reuters is out with fresh headlines from Republican Senators on details of the tax proposal.

Republican Senator Cassidy says Senate Republican tax bill would repeal federal deductions for state and local income, property and sales taxes.

Republican Senator Cornyn says Senate Republicans are looking to avoid one-year delay in the corporate tax rate reduction in proposed tax bill.

Republican Senator Cruz says the Senate tax proposal would not repeal the adoption tax credit.

Republican Senator Hoeven says Senate proposal keeps seven tax brackets, lowers top rate to 38.5 percent.

Gold surges to new multi-week tops as tax plan damages market sentiment

The XAU/USD pair extended its daily gains in the NA session to its highest level since October 20 at $1288 as the initial market reaction to the U.S.
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House seeks to increase proposed tax rates on repatriated foreign profits to 14% from 12%

Reuters is reporting highlights from the House Tax Committee's updated proposal, with key quotes found below. U.S. House Tax Committee chairman seek
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