The prospects that the Republican-controlled legislative branch would find a compromise to tax cuts were enhanced when a few senators appeared to capitulate without much to show for it may have helped lift US stocks and dollar ahead of the weekend. Each chamber must now approve the reconciliation measure, which does not look particularly like either the House or Senate bills, though the regressive thrust was maintained. Passage will be relatively easy in the former, but it will be a close call in the Senate. There are a few Republican Senators that do not face re-election, like McCain and Flake from Arizona and are ... (full story)