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Danielle DiMartino Booth of Quill Intelligence, First Trust Advisors chief economist Brian Wesbury and CFRA chief investment strategist Sam Stovall provide insight into the markets and Janet Yellen s confirmation as Treasury secretary.
President Biden s nominee for treasury secretary, Janet Yellen, said Thursday that the president s offshoring tax penalty would incentivize U.S. companies to create and maintain jobs at home.
The tax penalty, which would establish a 28% corporate tax rate and 10% offshoring penalty tax on U.S. goods and services produced overseas, is part of Biden s Made in All of America plan to bring manufacturing jobs back to the U.S. and encourage purchases of U.S.-made products.