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  • Ford Motor Company(DEARBORN, Mich.) — Ford is bringing more jobs to Michigan. The automaker announced Tuesday that it will invest $1.2 billion to refurbish three manufacturing facilities there.Auto sales have been flat, but Ford is betting on mid-sized SUVs and pickup trucks. The company says it plans to bring back the Bronco and Ranger models, and it will outfit its Michigan Assembly Plant to build both. Employees will begin building the new Ranger at the close of 2018 and the Bronco in 2020.“At Ford, we are investing aggressively in building on our strengths today — including trucks, vans, commercial vehicles, performance vehicles and SUVs — while at the same time growing our leadership in electrification, autonomy and mobility services,” Ford president for the Americas Joe Hinrichs said in a company statement. “As America’s top producer of automobiles, we are proud to be going even further in our commitment to invest in manufacturing here at home.”The engines will be made at a separate Michigan plant, where Ford says 130 jobs will be created or retained. Ford is also building a $200 million data center to support its goal of making electrified and autonomous vehicles.Tuesday’s announcement comes in a recent streak of Ford investments. Over the last three months, the auto manufacturer announced $1.9 billion in investments within the state of Michigan alone. The company has invested $12 billion in U.S. plants over the last five years, generating roughly 28,000 jobs.Copyright © 2017, ABC Radio. All rights reserved.
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  • Creatas/Thinkstock(WASHINGTON) -- After President Trump's bid to repeal and replace Obamacare -- a hallmark campaign promise -- flopped in the U.S. House last week, Republicans will look to tax reform in an attempt to deliver the first major legislative accomplishment of the GOP government, which controls both houses of Congress and the presidency.Trump has long promised a simpler tax code with lower tax rates for corporations and tariffs on companies who move outside the United States. “We’ll probably be going right now for tax reform,” Trump said in the Oval Office after Speaker Paul Ryan pulled the bill from the floor.Here's what we know and don't know about the potential tax reform efforts:What Trump has promised on tax reformTrump's plan, revealed during the campaign, centers around nixing income taxes for individuals making less than $25,000 a year or for couples making less than $50,000 per year. "They get a new one page form to send the IRS saying, 'I win,'" says Trump's tax reform plan from the campaign. "The Trump plan eliminates the income tax for over 73 million households.""All other Americans will get a simpler tax code with four brackets – 0%, 10%, 20% and 25% – instead of the current seven," the plan states, adding that the higher brackets would have fewer options for deductions. "Simplifying the tax code and cutting every American’s taxes will boost consumer spending, encourage savings and investment, and maximize economic growth."For single filers under Trump's plan, those earning $150,001 and up would pay the top rate of 25 percent as well as 20 percent on capital gains. Tax brackets for 2016 range from 10 percent for single people making less than $9,275 to 39.6 percent for single filers making $415,050 or more.The president has also pledged to eliminate the Alternative Minimum tax, which affects high-income Americans who take lots of deductions. Tax returns from 2005 showed Trump paid most of his taxes that year because of the AMT.Trump's plan also says businesses should expect their taxes to go down. "No business of any size, from a Fortune 500 to a mom and pop shop to a freelancer living job to job, will pay more than 15% of their business income in taxes," says Trump's tax reform plan.The federal corporate tax rate ranges from 15-35 percent, according to the Government Accountability Office."These lower rates will provide a tremendous stimulus for the economy – significant GDP growth, a huge number of new jobs and an increase in after-tax wages for workers," the Trump plan states. Trump has routinely said that American corporate tax rates are prompting many businesses to grow overseas and ship their goods into the United States.Despite the loss of revenue from both of these tenets of the bill, Trump's plan the bill will be "fully paid for" and "fiscally responsible." One of the main drivers would be a border adjustment tax -- a tariff on goods imported into the United States from other countries. "I think another point that's important to the president is a potential border tax -- that we start evening up the playing field between our country, countries around the world," said White House chief of staff Reince Priebus on Fox News.The plan also calls for "a one-time deemed repatriation of corporate cash held overseas at a significantly discounted 10% tax rate" and "reducing or eliminating deductions and loopholes available to the very rich."What the Freedom Caucus is sayingIn order to pass comprehensive tax reform, Trump and Ryan will likely need to win the support of the most conservative wing of the Republican Party, dubbed the "Freedom Caucus." This group of holdout Republicans refused to support the AHCA."I think there has been a lot of flexibility in terms of some of my contacts and conservatives in terms of not making it totally offset," said Rep. Mark Meadows, the leader of the Freedom Caucus on ABC News' "This Week." "Tax reform and lowering taxes, you kn
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  • ABC News(NEW YORK) — Real estate that belonged to President Trump before he started putting his name on things has sold at a nifty profit. Long before Trump Tower on 5th Avenue, there was 8515 Wareham Place. Until he was four years old, President Trump grew up in a five-bedroom Tudor-style home in the Jamaica Estates section of Queens. Isaac Kestenberg lived in that house for eight years. “Tourists from Europe — from everywhere come to take a picture,” he said.Kestenberg sold the home in December for $1.4 million and the house just sold again at auction for more than $2.1 million dollars. The auction house, Paramount Realty USA, said the sale price is more than double the average list price for similar homes in the neigborhood.
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  • United Airlines(DENVER) — United Airlines responded to criticism it received on Sunday after it barred two teenage girls from boarding a flight because they were wearing leggings.The incident sent several social media users into an angry uproar, with some calling the policy sexist and discriminatory against women.
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  • iStock/Thinkstock(NEW YORK) — Now that you have access to on-demand movies and TV, chances are your DVDs sit forgotten next to your CDs — wherever you stowed those after iTunes came out.We get it: why take the time to walk to your DVD collection, open a case, pop in a disc, etc., when you can fire up Netflix or whatever?A company called VUDU is now giving users the best of both worlds: for $2, you use your phone to scan a DVD's barcode, and the company will give you streamable access to that very movie that you can watch anywhere — all without a subscription.You can even choose standard quality or upgrade for an additional fee. Check out Vudu.com for more info — and get a free conversion out of the deal to boot! "The average movie collector owns nearly 100 DVDs and Blu-rays, said Jeremy Verba, Vudu's general manager."We know these customers have invested a lot into building their physical movie collections. As more and more customers create digital libraries, we are constantly looking for ways to help them unlock additional value from the movies they already own."Copyright © 2017, ABC Radio. All rights reserved.
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