While you were sleeping: Concern on US tax reform, Merck

Mon, 30 Oct 2017

By Margreet Dietz Oct. 31 (BusinessDesk) - Wall Street slid amid concern about the highly-anticipated tax reform by the Trump administration, while shares of Merck dropped amid disappointment about one of its key drugs. House tax writers are discussing a gradual phase-in for the corporate tax-rate cut that President Donald Trump and Republican leaders want—a schedule that would have the rate reach 20 percent in 2022, Bloomberg reported, citing a member of the chamber’s tax-writing committee and a person familiar with the discussions. “...

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