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.
Activists protesting corporate profits, environmental abuses, poor working conditions and the Israel-Hamas war marched in downtown San Francisco on Sunday, united in their opposition to a global trade summit that will draw President Joe Biden and leaders from nearly two dozen countries.
U.S. officials say that five U.S. servicepeople were killed when a military helicopter crashed over the eastern Mediterranean Sea during a training mission.
FBI agents seized phones and an iPad from New York City Mayor Eric Adams this week as part of an investigation into his campaign fundraising, his attorney confirmed Friday.
A man was arrested early Friday in the alleged assault of former U.S. Sen. Martha McSally, who says she was molested as she jogged along the Missouri River in Council Bluffs, Iowa.
President Joe Biden and Chinese President Xi Jinping will meet Wednesday in California for talks on trade, Taiwan and managing fraught U.S.-Chinese relations in the first engagement between the leaders of the world's two biggest economies in a year.
a phrase about the space in between, “from the river to the sea,” has become a battle cry with new power to roil Jews and pro-Palestinian activists in the aftermath of Hamas' deadly rampage across southern Israel Oct. 7 and Israel's bombardment of the Gaza Strip.
Democratic Sen. Joe Manchin of West Virginia announced Thursday that he won’t seek reelection in 2024, giving Republicans a prime opportunity to pick up a seat in the heavily GOP state.
