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Billionaire David Tepper Places Bet on 3 ‘Strong Buy’ Stocks

Reuters

Investors see Biden’s 15% minimum tax offer as positive

NEW YORK (Reuters) -Investors hailed U.S. President Joe Biden’s offer on Thursday to scrap his proposed 28% corporate tax hike as a move in the right direction and embraced the idea of a compromise that could allow an infrastructure and tax package to move through Congress. Biden offered to set a minimum tax rate that companies should pay at 15%, two sources familiar with the matter said, in what would be a major concession by the Democratic president as he works to hammer out a deal with Republicans. In return, Republicans would have to agree to at least $1 trillion in new infrastructure spending, versus the president’s original proposal for a $2.25 trillion package.

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