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Treasury chief Scott Bessent has repeatedly brought up how he expects Americans to ring in the new year in part by reducing the amount of federal income tax that they hand over in every paycheck, making the move due to the tax cuts in the GOP's One Big Beautiful Bill Act.
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The situation today is not quite the same as the dot-com bubble, but the market is about 80% of the way there, says the founder of hedge fund Bridgewater Associates.
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