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.
An ancient Christian mosaic bearing an early reference to Jesus as God is at the center of a controversy that has riled archaeologists: Should the centuries-old decorated floor, which is near what's believed to be the site of the prophesied Armageddon, be uprooted and loaned to a U.S. museum that has been criticized for past acquisition practices?
Congressional leaders are pitching a stopgap government funding package to avoid a federal shutdown after next month, acknowledging the House and Senate are nowhere near agreement on spending levels to keep federal operations running.
The new Emerson poll of Republican voters shows former President Donald Trump far ahead of his rivals for the 2024 nomination, but for the first time, former New Jersey Governor Chris Christie has surpassed Florida Governor Ron DeSantis.
A former high-ranking FBI counterintelligence official pleaded guilty Tuesday to conspiring to violate sanctions on Russia by going to work, after he retired, for an oligarch he once investigated.
Donald Trump has now been indicted in a fourth case, with the former president being charged Monday in Georgia over his efforts to overturn his 2020 general election defeat in the state.
