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.
MarketWatch's Rob Schroeder helps us break down what is happening with tariffs implemented by the Trump admin., plus what Canada and Mexico have promised.
Jen Judson, Reporter at Military Times, breaks down what we know about the fatal commercial airline crash in D.C. and the ongoing investigation into its cause.
Robert Weissman, co-president of Public Citizen, discusses the lawsuits filed against DOGE and explains Public Citizen's approach to efficiency in U.S. spending
Jennifer Mattson, Contributing Writer at Fast Company, discusses the impact of Trump's first weekend in office and what's to come from the administration.
Ty Young, CEO of Ty J. Young Wealth Management, joins Cheddar to discuss Trump's moves as he returns to Washington D.C. and how it may affect the U.S. economy.
J.D. Durkin, host of 'Common Threads,' helps us unpack Trump's actions on Day One, talks the most meme-able moments from Inauguration Day and more. Watch!
