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Inside the Biggest U.S. Tax Overhaul in 30 Years

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Nostalgia, even if forced, is inescapable this time of year. The Internet is filled with looks back on the past 12 months, through the lens of money, booze, or defining photography (you’ll find all below). Yes, it was a year of changes in business, technology, climate change and politics around the world. But don’t forget to escape all that, at least for a few hours, with a seasonal beer or mug of hot chocolate. —Megan Hess

President Donald Trump signed the tax overhaul bill, delivering a major tax cut to U.S. corporations along with a package of temporary cuts for other businesses and most individuals. His signature caps a seven-week sprint that began when the House unveiled its bill last month, and it gives the GOP its first major legislative victory of Trump’s term. The legislation, and public perceptions of it, are expected to play a major role in 2018 elections. These are its major changes.

A messy start to 2018. Congress managed the bare-minimum task of keeping the government open before the holiday recess yet made little progress on a slew of divisive issues it will now be forced to confront in January. Those include resolving a long-running dispute over defense spending levels, raising the nation’s debt ceiling, and dealing with the looming deportations of undocumented immigrants.

Bitcoin traders claim there’s a method to their madness. Tracking the daily moves of the cryptocurrency craze can be exhausting. In the span of this week alone, it reached a record high and then lost almost a quarter of its value. One engineer who trades cryptocurrencies tries to anticipate the market by monitoring the movements of a handful of sophisticated players with huge holdings, while also gaming out the psychology of others who have no idea what they’re doing.

Another year, another Dow record. Market highs, a venture-capital boom, and record-low unemployment were just some of the defining moments for investors in 2017. We took a look back at the year in money.

Going to court over iPhone slowdowns. At least two groups of customers have sued Apple over the deterioration of their phones’ performance. One group, in Chicago federal court, claims the software updates that slow down some older iPhone models were intentionally put out to force consumers to buy newer ones that retail for much higher prices.

Ditch the eggnog. No matter how you choose to remember 2017, it’s been a banner run for drinking connoisseurs. Here, you’ll find a sampling of liquors that came into the world this year—spirits that are either delightfully delicious, distractingly daring, or both.

The 100 best photos of 2017 It’s hard enough to remember what happened in the world last week, much less what happened back in January and February. Take a journey back in time through the images that captured some of the most memorable moments of 2017.

A visitor takes a selfie at the glass-bottomed observation deck of the Lotte Corp. World Tower in Seoul on March 16. 
Photographer: SeongJoon Cho/Bloomberg

 

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