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.
House Republicans made post-midnight changes to their sweeping debt ceiling package to win over holdouts, as Speaker Kevin McCarthy pushed ahead Wednesday with plans to launch debate and round up support from his slim majority for a vote this week.
South Korean President Yoon Suk Yeol opened his state visit to Washington on Tuesday by touring a NASA facility with Vice President Kamala Harris as the Biden administration looks to deepen ties with a close ally that it sees as only growing in importance in an increasingly complicated Indo-Pacific.
Colorado is set to become the first state to sign a ‘right to repair’ law allowing farmers to fix their own equipment with a bill signing Tuesday afternoon by Democratic Gov. Jared Polis.
President Joe Biden has formally announced he’s seeking reelection.
Three Tennessee lawmakers who became Democratic heroes for facing expulsion after participating in gun control protests visited the White House on Monday, describing themselves as “representatives of a movement" that is demanding greater restrictions on firearms to save lives.
Speaker Kevin McCarthy is hurtling toward one of the most consequential weeks of the new House Republican majority as he labors to pass a partisan package that would raise the nation's debt limit by $1.5 trillion in exchange for steep cuts that some in his own party oppose.
A former advice columnist’s nearly 30-year-old rape claim against Donald Trump has gone to trial.
President Joe Biden on Tuesday formally announced that he is running for reelection in 2024, asking voters to give him more time to “finish this job” he began when he was sworn into office and to set aside their concerns about extending the run of America’s oldest president for another four years.
The sheriff's office in Carroll County, northeast of Louisville, has hired former Louisville police officer Myles Cosgrove, who fatally shot Taylor in a March 2020 drug raid that used a faulty warrant to break through her door.
The United States has begun facilitating the departure of private U.S. citizens who want to leave Sudan, according to White House national security adviser Jake Sullivan.
