City

Citi is dropping after warning the Senate GOP tax bill could cost it $20 billion

11 monthes ago   |   By

Markets Insider
Citigroup fell 1.4% Wednesday after CFO John Gerspach warned at an investor conference that the GOP's Senate tax bill could cost the bank $20 billion.
The hit would stem from Citi writing down deferred tax assets, a charge analysts had previously estimated at only $12 billion, according to a Bloomberg report.
Shares opened the day at $76.30 and fell to $75.44 at the closing bell.
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Experts are starting to find massive errors in the GOP tax bill after it went through Congress at lightning speed

Experts are starting to find massive errors in the GOP tax bill after it went through Congress at lightning speed

11 monthes ago   |   By

Republicans in the House and Senate passed their respective tax reform bills at breakneck speed.
Experts are starting to find errors and loopholes in the bills.
Members of the House and Senate conference committee will need to solve these issues and write a compromise bill.
As Republicans hurtle toward making their massive tax bill into law, experts are starting to find a slew of errors they say are likely the result of a rushed process.
Republicans argued that the bill was the culmination of years of work. But the actual bills off that work moved through both chambers of Congress at...
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