Goldman Sachs Group Inc. said Friday that the new tax law signed by U.S. President Donald Trump last week will reduce its earnings for the fourth quarter and year ending December 31, 2017 by about $5 billion. The U.S. tax reform bill, known as the Tax Cuts and Jobs Act, was enacted on December 22, 2017. The tax legislation will lower the corporate income tax rates to 21 percent from 35 percent.
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