STOCKS SHRUG OFF TAX REFORM: Here's what you need to know

pulse

December 20, 2017 10:17 PM

The GOP's plan to cut taxes is done. President Trump still has to sign the bill into law, but it has conquered its biggest hurdle.

The GOP's plan to cut taxes is done. President Donald Trump still has to sign the bill into law, but it has cleared its biggest hurdles, passing a vote in both the Senate and House of Representatives on Wednesday.

The bill is largely expected to provide a boost to stocks, in part because of a lower corporate tax rate and tax repatriation holiday. Some companies have already announced plans for the cash coming their way, but the stock market shrugged off the news.

The Dow, S&P, and Nasdaq all posted slight losses on Wednesday.

Here's the scoreboard: