Latest news: The US Senate passed the tax cut bill with a vote of 51:49. This is the first time Congress has revised the tax law in 31 years. Trump stated on Twitter that he expects to sign the final bill before Christmas. The overall tax reform bill provides generous tax cuts for businesses and moderate tax cuts for families and individuals. The bill will lower the corporate income tax from 35% to 20% and allow business owners to deduct 20% from their business income. The bill will increase the standard deduction for married couples from $12,000 to $24,000. However, the tax cut provisions for individuals will expire in 2026, while the corporate tax cut will become permanent.
What is the impact of tax reform on the US economy?
A 20% corporate tax rate will make the US corporate tax rate lower than the average of other industrialized countries, and the tax rate for small and medium-sized enterprises will be the lowest in nearly a century, making the United States more competitive.
The reform of personal income tax enables the American public to have more income to purchase goods, releases the consumption power of the American middle class to the greatest extent, and allows consumption to become the fundamental driver of economic growth.
By reducing tax rates and massively reducing the burden on businesses and individuals, US businesses will increase profits after tax cuts, expand reproduction, and solve more employment problems, thereby achieving the effect of expanding the tax base.
Experts point out that this tax reform legislation is tantamount to installing nuclear power for US economic growth, and the United States will also usher in a new era of economic growth.
Golden Opportunity to Invest in the United States
For individual investors, the passage of this tax reform bill is a major positive for investment immigration, and tax issues are no longer a stumbling block on the path to immigrating to the United States!
Because the tax reform not only benefits middle-class American families, but most Chinese-American families also benefit, reducing the cost of living in the United States for Chinese immigrants to a certain extent. The tax reform plan also abolished the estate tax, which will eliminate the concerns of high-net-worth individuals about the US estate tax.
For enterprises, according to the tax reform rates, it is already close to some tax havens. Choosing to register companies and invest in factories in the United States will be superior to industrial chain layouts in other countries and regions with higher taxes.
With the arrival of the global CRS tax era and the significant tax cuts in the United States, the United States will become an emerging tax-avoidance country, and investment in the United States will also usher in a golden time.
For individual investors, the passage of this tax reform bill is a major positive for investment immigration, and tax issues are no longer a stumbling block on the path to immigrating to the United States! The Manhattan 9 Luxury Boutique Hotel EB-5 project, launched by Worldway Immigration Group, which promises to shorten waiting times and quickly obtain a green card, will help investors quickly obtain a green card.
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