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Five stocks poised to gain from GOP tax plan

The markets got off to a quick start to the week on expectations that President Trump will sign the GOP tax bill into law before the holiday.

The GOP plan is expected to benefit Corporate America, in particular a drop in the corporate tax rate from 35% to 21%. A report from Goldman Sachs stated that the new tax rate could boost profits significantly.

Companies with material international business, and have hoards of cash stockpiled in foreign countries will get a one-time 15% rate on international stocks to allow them to bring that money back into the states to be used for business development or return to shareholders through dividends and buybacks.

As a result of the progress the GOP has made in reaching a deal on tax reform, the market once again hit a new record high, and Wall Street is very bullish on the expected passage of the plan.

Almost all companies will benefit, let’s take a look at five companies that really stand to gain.

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Michael Fowlkes

Michael Fowlkes is a financial writer who has been with the Fresh Brewed Media family since 2004. Over the course of his tenure with Fresh Brewed Media, he has worn many hats, including portfolio manager, options analyst, and writer. Michael received his undergraduate degree from Virginia Tech in Accounting and got his start in finance working as a stock trader for six years at Chase Investment Counsel in Charlottesville, Va.