On October 19, local time, the budget proposal for the U.S. fiscal year 2018 was finally passed in the Senate. The significance of this budget proposal lies in its inclusion of the tax reform framework that the Trump administration has been advocating, thus paving the way for subsequent tax reform legislation, which is of great importance.
Tax Reform in the U.S. Enters the Fast Lane
According to CNBC, the Republicans narrowly passed the $4 trillion budget proposal with 51 votes in favor and 49 against, with Senator Rand Paul being the only Republican to vote against it, while all Democrats voted against it.
This budget proposal employs the "budget reconciliation" mechanism for future tax reform legislation, meaning that tax reform legislation can be passed with a simple majority in the Senate, and the Senate cannot exercise "filibuster" in the future, allowing tax reform to enter the fast lane.
The Largest Tax Cut Storm in U.S. History is Coming
On September 27, local time, U.S. President Trump delivered a speech on tax reform in Indiana, unveiling the framework of his "historic tax cuts": reducing the corporate tax rate from 35% to no more than 20%, doubling the personal income tax threshold to $12,000, eliminating the estate tax, and imposing a one-time lower tax rate on income retained overseas by corporations. This is the largest tax reform plan in the U.S. in thirty years and will be Trump's first major legislative victory since taking office.
In his speech, Trump reiterated that this tax reform is "the largest in U.S. history" and is "a once-in-a-generation opportunity". The tax reform will reduce taxes for middle-class families, making it simpler and fairer, and will bring profits and jobs back to the U.S. It will also benefit the wealthy.
Investing in the U.S. May Bring Significant Benefits
Trump's tax reform will greatly stimulate the U.S. economy and increase job opportunities, bringing significant benefits to the U.S. real estate market. This is another boon for Chinese investors.
Additionally, President Trump and Senate Republican leader Mitch McConnell have expressed their hope to pass the tax reform bill this year. Once the U.S. tax reform is implemented as planned, it will be a great benefit for high-net-worth individuals who want to invest in U.S. real estate but are concerned about estate taxes, as well as those who wish to immigrate but are worried about high taxes in the U.S. At that time, the U.S. will be more favored by high-net-worth investors and may become a gathering place for the wealthy worldwide.
Investment Immigration to the U.S. is at an Optimal Time; Choosing the Right Project is Key
With China implementing the Common Reporting Standard (CRS) and Trump significantly cutting taxes, global capital will rush into the U.S. As an emerging tax haven, the U.S. will attract more high-net-worth individuals to immigrate here. EB-5 investment, as an important means of personal investment, not only allows the conversion of RMB assets into USD assets but also enables the whole family to obtain U.S. green cards, making it a crucial method for high-net-worth individuals' global asset allocation today.
Currently, the existing policy for EB-5 investment immigration to the U.S., which has low thresholds and high cost-effectiveness, will expire on December 8. This will be the last opportunity for investors to obtain U.S. green cards at the price of $500,000. If you plan to immigrate to the U.S., you must act quickly to avoid missing this opportunity.
The WorldWay Immigration Group currently has two high-quality EB-5 projects for sale, which will assist investors in seizing the last chance before "12.8". It is recommended that investors interested in immigrating to the U.S. take advantage of the final policy dividend period.
Dallas Project No. 1
Located in Dallas, known as the "Engine of U.S. Economic Growth", it is hailed as the "2017 EB-5 Diamond Project"
Click to view details of the Dallas Project No. 1
Creating Brilliance Together, Celebrating 20 Years!
On the occasion of the 20th anniversary of the WorldWay Immigration Group, to express gratitude for the support and trust of new and old clients over the past 20 years, we are launching the "WorldWay Group 20th Anniversary Celebration, Gratitude and Generous Returns" event from now until November 12, 2017. During the event, the WorldWay Group will offer numerous significant discounts to share the joy with investors. For more details about the event, please call the WorldWay Immigration Group's toll-free hotline: 400-138-2929.