Christmas Comes Early for the GOP: Tax Reform Passes
Early Wednesday morning the Senate passed its tax reform bill, hours after it was sent back to the House for a re-vote. Romina Boccia, Deputy Director at The Heritage Foundation, joins Cheddar to discuss how the bill will impact small companies and what she wishes was included in the legislation.
She predicts there will be more foreign direct investments into American companies, which will drive wages and create jobs in the U.S. It will encourage major corporations to move their headquarters to America. The corporate tax rate will drop from 35% to 21%, bringing American closer to the world's average, she says.
Plus, many are concerned about the removal of the state and city tax deduction. Boccia explains you can still deduct up to $10,000 with the cap now. She says only very wealthy individuals will feel an impact.
Sabrina Siddiqui, National Politics Reporter at The Wall Street Journal, joins to break down the SNAP funding delays and the human cost of the ongoing shutdown.
Politico's Marcia Brown breaks down the MAHA draft roadmap: industry-friendly, light on regulation, heavy on research and voluntary food policy changes.
Amanda Chu of POLITICO reveals how lawmakers are betting millions on pharma stocks even as Trump threatens tariffs and demands steep drug price cuts. Watch!
