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.
A U.S. general says Russia has operationally lost the war in Ukraine, a court says federal workers are not owed COVID-19 hazard pay, and Microsoft officially shuts down Internet Explorer. Here is everything you Need2Know for Wednesday, February 15, 2023.
The Biden administration on Wednesday announced a new program under the Bipartisan Infrastructure Law that aims to expand the infrastructure needed to keep electric vehicles charged.
Nikki Haley, the former South Carolina governor and United Nations ambassador, announced her candidacy for president on Tuesday, becoming the first major challenger to former President Donald Trump for the 2024 Republican nomination.
The White House defended the shootdowns of three unidentified objects in as many days even as it acknowledged that officials had no indication the objects were intended for surveillance in the same manner as the high-altitude Chinese balloon that traversed American airspace earlier this month.
Millions of Medicaid recipients could find relief in the form of food shopping funds as the Biden administration begins approving state requests to use the coverage for groceries.
It is still not known where the second, third, and fourth flying objects shot down by U.S. military fighter jets originated from, a White House spokesperson said Monday.
A judge has ordered the release of parts of a report produced by a special grand jury that investigated efforts by former President Donald Trump and his allies to overturn his narrow 2020 election loss in Georgia.
