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ASX to edge higher; Fed's Powell sees US boom ahead


ASX ends lower; BHP, Rio weigh on market
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Austal bears biggest hit from US tax hike among ASX companies
Vesna Poljak
Joe Biden’s plan to raise America’s corporate tax rate would have the biggest earnings impact on Austal, Appen, and James Hardie, according to Macquarie analysis, which concludes they might still be better off as probable beneficiaries of Biden’s infrastructure spending.
The intended tax increases are required to fund the administration’s $US2 trillion ($2.6 trillion) plan to rebuild America’s transport infrastructure, utilities and other policy needs, by increasing the company tax rate to 28 per cent from 21 per cent.

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