Tax Reforms Threaten US Bond Market
U.S. corporate tax reform proposals are causing consternation among bond market players, who fear their implementation will drastically reduce issuance levels. President Donald Trump and Republicans in the House of Representatives have plans to cut corporate tax rates, allow repatriation of cash stuck in overseas accounts and eliminate companies' ability to deduct debt interest expenses from tax — actions some think would hugely reduce companies' current reliance on debt.
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