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BofA CEO Moynihan predicts ‘immediate impact’ if tax reform is passed

“Bank of America CEO Brian Moynihan said Thursday he expects “immediate impact” if Congress passes tax reform” writes Jeff Cox for cnbc.com. Yes, we need to have a lower tax rate to be competitive.”. The bank did say it had seen a 22 percent slide in bond trading, mirroring a broader industry trend.The second-largest U.S. bank by assets reported third-quarter earnings of 48 cents a share, ahead of Wall Street estimates.His comments come the same day the House passed a budget that helps pave the way for a Republican-sponsored plan that would slash corporate and personal taxes and generally reform the nation’s tax code.
 
Source: cnbc.com



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