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.
The GOP-dominated Iowa Senate passed a bill that would loosen the state's child labor laws.
House Speaker Kevin McCarthy has unveiled a sweeping package that would raise the nation’s debt limit by $1.5 trillion into next year.
The Florida Board of Education has approved a ban on classroom instruction on sexual orientation and gender identity in all grades.
The Supreme Court is deciding whether women will face restrictions in getting a drug used in the most common method of abortion in the U.S. while a lawsuit continues.
New supervisors leading Disney World’s revamped governing body say they had good intentions about collaborating with the company after they were appointed by Florida Gov. Ron DeSantis.
President Joe Biden signed an executive order on Tuesday that contains more than 50 directives to increase access to child care and improve the work life of caregivers.
Supreme Court justices seemed in broad agreement that businesses can’t cite minor costs or hardships to reject requests from workers who need schedule or other accommodations because of their religious practices.
Fox and Dominion Voting Systems have reached a $787 million settlement in the voting machine company’s defamation lawsuit.
House Speaker Kevin McCarthy pledged Monday to pass legislation to raise the nation's debt ceiling — but only on condition of capping future federal spending increases at 1% — as he lashed out at President Joe Biden for refusing to engage in budget-cutting negotiations to prevent a debt crisis.
U.S. Rep. George Santos, the New York Republican whose lies about his background and wealth helped propel him into office, announced Monday that he's running for reelection.
