The US PPI will come out on Thursday, May 12, at 15:30 MT time.
Tax bill's 'pass-through' rule will help the rich, not employees: critics
Wealthy business owners, including President Donald Trump will undoubtedly derive benefits from a provision in the Republican tax bill, which generates a valuable deduction for owners of pass-through businesses. That’s what Democrats as well as some tax experts told.
The provision actually creates a 20% business income deduction, including some restrictions for sole proprietors and also owners in partnerships in addition to non-corporate enterprises.
Initially, it was offered by Republicans as a way to help small businesses and generate jobs. However, the final formula for figuring out what types of businesses can benefit has extended to take in businesses with few, if any, employees, critics stressed.
Being a real estate developer, this week Trump is on the verge of signing the Republican tax bill into law that would give Republicans their first major legislative win this year.
The US CPI will come out on Wednesday, May 11, at 15:30 MT time (GMT+3).
Representatives from 15 oil-rich nations attend OPEC meetings. They discuss a range of issues regarding energy markets and, most importantly, agree on how much oil they will produce.
The Australian Bureau of Statistics will announce the updated Unemployment Rate and Employment Change data on Thursday, May 19, at 04:30 MT.
The UK Office for National Statistics will publish Consumer Price Index (CPI) data on Wednesday, May 18, at 09:00 MT.
The US Census Bureau will announce Core Retail Sales and Retail Sales on Tuesday, May 17 at 15:30 MT.