Tech stocks rebound as investors a ssess tax bill details
Tech stocks rebound as investors a.ssess tax bill details.
(Reuters) – Wall Street rose and technology stocks recovered from a two-day selloff on Tuesday, with investors assessing a change to the Senate’s version of the tax overhaul bill that could affect the ability of companies to cut their tax bills.
The Republicans made last-minute changes to their tax bill, which included retaining the corporate alternative minimum tax (AMT) after initially proposing its repeal.
That puts Senate Republicans on a collision course with Republicans in the House of Representatives, whose own tax bill repeals the corporate AMT and who are already calling for the tax to be eliminated in the final legislation.
House Republican leader Kevin McCarthy had called for elimination of corporate AMT in a CNBC interview on Monday.