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Weekly Economic Update for December 26, 2017

Weekly Economic Update for December 26, 2017


LANDMARK FEDERAL TAX CHANGES SLATED FOR 2018
Congress passed the Tax Cuts & Jobs Act last week, and President Trump signed the bill into law on Friday. The new legislation authorizes major changes to the Internal Revenue Code. On January 1, 2018, the corporate tax rate will be reduced to 21%, most pass-through businesses will be allowed to claim a 20% deduction on earnings, the estate tax exemption will double, the individual standard deduction will rise to $12,000, and personal exemptions will disappear.

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