Sat, Dec 02, 2017
Stocks and the greenback tanked mid-session after an ABC report that former national security adviser Michael Flynn was prepared to testify that Donald Trump instructed him to make contact with Russians during the presidential campaign.
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Shares on Wall Street fell immediately after the report. Investors feared the political news could affect whether the Senate will pass a tax bill backed by Trump.
The changes in the "substitute amendment" released by Senate Finance Committee Chairman Orrin Hatch on Friday night include an increase in the deduction for pass-through business income from 17.4 per cent to 23 per cent, reports.
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