Taxes

U.S. stocks are slipping Thursday morning as Wall Street waits for news about House Republicans' tax proposals and President Donald Trump's choice for Federal Reserve chair.

House Republicans have stressed that the tax plan they unveiled Thursday is tailored to benefit America's middle class.

The White House says a $100 billion semiconductor company based in Singapore will move its home address to the U.S. Broadcom Limited manufactures communications chips.

House Republicans are set to unveil their far-reaching tax overhaul Thursday, making major changes yet looking to preserve current tax rules for retirement accounts popular with middle-class Americans and to retain a top income-tax rate for million-dollar earners.

Highlights of the GOP tax plan.

Proposed changes in the GOP tax plan could affect homeowners in more expensive neighborhoods and car buyers interested in electric vehicles.

The Dow industrials climbed on Thursday while losses in Facebook kept the S&P 500 and the Nasdaq in check as investors assessed the long-awaited tax cut plan unveiled by U.S. President Donald Trump’s fellow Republicans.

The latest on developments in financial markets (All times local): 9:40 a.m.

The new House Republican tax reform plan released on Thursday calls for changes to the estate tax, otherwise known as the “death tax,” including its elimination after a period of six years.

Treasury Secretary Steven Mnuchin has a long way to go to get small businesses on board with the GOP’s tax plan in its current form, despite claims he made on Thursday that the newly-released plan would be a boon to their bottom lines.

The GOP will release the specific details of its long-awaited tax reform bill on Thursday, which President Donald Trump said he hopes will be approved by the House of Representatives by Thanksgiving.

House Republicans struggled to complete work on a sweeping tax proposal, delaying its public release by a day as President Donald Trump set an ambitious, by-Christmas timetable for passage of the legislation.

The Latest on the Republican tax overhaul effort (all times local): 11:25 a.m.