On Tuesday the House passed the Republican Tax Plan by a 227-203 margin. Politico Tax Reporter Aaron Lorenzo explains the path forward for this legislation in the Senate, and how individuals and corporations will be impacted.
Lorenzo says he expects the GOP plan to pass the Senate, and signed by President Trump before the end of the year. The bill is a $1.5 Trillion tax cut which nearly doubles standard deduction, and cuts the corporate tax rate from 35 percent to 21 percent. Lorenzo says he expect retail to be a big winner, because they do not face a big margin.
According to a recent Gallup Poll, more than half of Americans say the proposed tax cuts would not help their families financial situation, and would not help the U.S. economy.
Former New Jersey Gov. and current Republican presidential candidate Chris Christie took aim at Donald Trump, calling him a "three-time loser." He also criticized the probe against Hunter Biden and gave his stance on Social Security.
The family of a fallen officer is breaking three decades of silence to defend New York City Mayor Eric Adams, who is under scrutiny, partly over a comment he made in an exclusive interview with News 12.
President Joe Biden is heading to South Carolina on Thursday to make the case that economic measures he pushed through Congress despite stiff Republican opposition are helping to keep the deep red state — and others that voted for Donald Trump in 2020 — humming.
