Captioning sponsored by cbs this is the cbs evening news with jeff glor. Glor good evening. It is looking more like the president will get his christmas wish, a tax cut bill. Republican leaders today rolled out the final version of their plan. They expect the house to vote on tuesday followed by the senate. Key g. O. P. Holdouts fell in line today, and nancy cordes is on capitol hill. We have delivered for the american people. Reporter the bill republicans filed tonight reflects months of haggling and decades of g. O. P. Yearning for deep tax cuts. The final plan retains seven personal tax brackets, though the rates would drop for almost everyone. A family making 75,000 a year would see its marginal rate go from 15 to 12. With so much at stake, the bills authors were tightlipped until the very end on what was in and what was out. What has happened to the Child Tax Credit . Im not going to comment on the content of the bill. Reporter Republican Leaders made an 11thhour change to secure
Bill. Captioning sponsored by cbs this is the cbs evening news with jeff glor. Tax credit . Im not going to comment on the content of the bill. Reporter Republican Leaders made an 11thhour change to secure the support of two g. O. P. Senators. They boosted the refundable portion of a new supersized Child Tax Credit to 1400, meaning lowincome parents pocket that cash, even if they dont owe taxes. Another holdout, tennessees bob corker, set aside his concerns about want bills cost calling it a onceinageneration opportunity to make u. S. Businesses more product and i have competitive. The bill slashes the Corporate Tax rate permanently from 35 to 21 . Most of the personal tax cuts would expire in 2025. I do predict both the house and senate will approve this tax reform bill. Hey, guys, how are you . Reporter but its still unclear whether two ailing g. O. P. Senators will be able to return for next weeks vote. John mccain . Well, i i dont want to go there because i think john mccain will b
Look forward to the return and congratulations again. Welcome, everybody, to the closing bell. Im wilburt frost in for bill today. Markets stormed out of the gates this morning, but a dramatic reversal in the last hour. A big day for earnings. After the bell, facebook, microsoft, qualcomm, at t, and more reporting what you need to know ahead of the reports. Starting with the initial rebound and selloff and since then pull back we are uptown at the nasdaq, and bob pasani is at the new york stock exchange, bob, starting with you the important thing is what happened in the last hour because we have weakened now, everyone is talking about the feds statement about market based measures of inflation compensation increasing in recent months, but remain low. They added that phrase they are more hawkish on inflation, but its modest, and the s p, lets look at the s p it did not move at all for the first 15 minutes after the feds statements if you thought, they would have been moving more aggress
More on that in a moment. But we begin tonight with a company that is an american icon, albeit today a tarnished one, General Electric. Today the company missed earnings forecasts by a lot, a stark reminder of the work that lays ahead for the new ceo. He summed up the quarter by sayi, our results are unacceptable, to say the least. Early today, wall street agreed. But after falling sharply, the stock made an about face, an abrupt one, embarking on its biggest comeback since 2009 and finishing up 1 . Morgan brennan takes a look at the quarter and what may be ahead for ge. Reporter for General Electric, its all about restructuring. Still, the oldest stock in the dows new Ceo John Flannery says everything is up for review as he begins to make sweeping changes at the struggling company. Ive spent really 90 days exhaustive review of the whole company, so the businesses, our culture, corporate spending, everything at the company has been up for examination, every stone turned, no sacred cows
Everyone, not just anyone. Yang all that and more, on tonights pbs newshour. Major funding for the pbs newshour has been provided by moving our economy for 160 years. Bnsf, the engine that connects us. Supporting social entrepreneurs and their solutions to the worlds most pressing problems skollfoundation. Org. The lemelson foundation. Committed to improving lives through invention, in the u. S. And developing countries. On the web at lemelson. Org. Supported by the john d. And catherine t. Macarthur foundation. Committed to building a more just, verdant and peaceful world. More information at macfound. Org and with the ongoing support of these institutions this program was made possible by the corporation for public broadcasting. And by contributions to your pbs station from viewers like you. Thank you. We begin with breaking news. The Justice Department has appointed former f. B. I. Director Robert Mueller to oversee the investigation into any possible connections between the Trump C