'All the goodies but none of the pain' - Here's what Wall Street is saying about Trump's tax plan
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The general consensus is that the plan had some good elements, but was a little light on details, which will have to be addressed as tax-writing committees craft actual legislation. Business Insider's Bob Bryan breaks down the gaps that need to be filled here.
From an economic perspective, Wall Street was lukewarm on the possibility that Trump's tax proposals - in their current form - will drive any sort of expansion. Several firms left their outlooks unchanged, citing a lack of actionable specifics.
If the tax plan did give Wall Street anything to work with immediately, it comes on the markets front, where the so-called Trump Trade was alive and well on Wednesday. Both highly-taxed US companies and multinational corporations with large overseas cash holdings rallied as traders bought assets expected to benefit most from tax reform. Here's a more detailed look at trade recommendations.
Without further adieu, here's a roundup of Wall Street commentary on the tax plan:
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