Tax breaks

Republican leaders say they are closer to a plan to extend the 2017 tax cuts and increase the debt ceiling.

Donald Trump vowed to boost the U.S. auto industry by making interest on car loans fully tax-deductible and renegotiating a trade deal with Mexico and Canada as he courts Michigan.

The company benefited from increases in residential and construction lending.

A mix of tax sweeteners and a lower cost of living has prompted banks such as MUFG Americas, Northern Trust and Bank of the West to locate corporate-level jobs in Phoenix and surrounding areas.

The company, which has been actively curbing growth to avoid becoming a systemically important financial institution, reported lower loan balances and reduced fee income after exiting the residential wholesale mortgage business.

The financial services industry has largely warmly greeted the GOP’s proposed overhaul of tax policy, yet some provisions have triggered concern and uncertainty. Here is a rundown of the key provisions and how they may impact the industry.