Goldman Sachs cites 26 percent surge in Q1 profits


When Congress approved a sweeping U.S. tax rewrite last year, many lawmakers noted just how beneficial the new legislation would be to major corporations like Goldman Sachs.

While the New York banking giant deducted billions from its fourth-quarter earnings report due to one particular provision in the new tax overhaul, it was able to enjoy an earnings boost during this most recent quarter.

Goldman Sachs (NYSE: GS) is reporting that its first quarter profits rose by 26 percent. This was made possible…

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