2025-05-21
13 分钟you The GOP nears a deal to boost tax deductions on their way to securing Trump's $3.8 trillion tax bill.
Plus, we look at recent gyrations in the bond market and why they matter.
A small wobble in the bond market was seen as more important than a big fall in the stock market.
Because treasuries are the bedrock of global finance and they're not just allowing the federal government to carry on,
they're allowing the entire economy to carry on.
And Ford lets rival Nissan shift.
its flagship battery plant as it pairs back its EV ambitions.
It's Wednesday, May the 21st.
I'm Azhar Sukri for The Wall Street Journal, filling in for Luke Vargas.
Here is the AM edition of What's News,
the top headlines and business stories moving your world today.
House GOP leaders and Republicans from high-tax states appear to be near an agreement on the state and local tax deduction.
That's according to people familiar with the discussions.
The agreement would set the cap on the so-called SALT deduction at $40,000.
That's up from $10,000 this year and is higher than the $30,000 figure in the current version of the Republican fiscal bill.
The GOP's giant tax and spend bill could reach the House floor as early as today,
but faces stark opposition from Democrats who argue that the proposed cuts to Medicaid and food aid programs are funding tax cuts for the wealthy.
Here's House Minority Leader Hakeem Jeffries.
Republicans are trying to jam this big, ugly bill down the throats of the American people.
And because of the fact...