Tax overhaul proposals winding their way through Congress may look great for U.S. corporations. For foreign firms, not so much. A lot will change between what is currently contained in separate drafts in the House and Senate and whatever ends up on President Donald Trump’s desk—if anything at all. But Republican senators and representatives are coalescing around the broad strokes of a plan that many expect will be a big tax boon to American business. Recent momentum on a deal has fueled successive days of stock-market highs.

Source: Wall Street Journal November 30, 2017 11:00 UTC