Mr Trump’s tax cuts are expected to pass through the House with no support from Democrats and some resistance from Republicans Chung Sung-Jun/GettyA deep cut to corporation tax proposed by President Trump would be pushed back to 2019 under plans that were to be released by Republican senators last night. The expected proposal to delay the planned cut, under which the corporate rate would fall from 35 per cent to 20 per cent, puts Senate Republicans on a collision course with the president, who wants to enact tax reform by the end of the year. The S&P 500 fell by 0.6 per cent to 2,578.92 after details of the proposal emerged yesterday while the Dow Jones industrial average shed 150.36 points by midday in New York to 23,412.56. The dollar fell by 0.4 per cent against a basket of major currencies as yields on ten-year Treasuries dipped…

Source: The Times November 10, 2017 00:00 UTC