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.
Anyone who wants to buy a gun in Michigan will have to undergo a background check, and gun owners will be required to safely store all firearms and ammunition when around minors under new laws signed Thursday by Gov. Gretchen Whitmer.
In Ireland this week, well-wishers have lined the streets to catch a mere glimpse of President Joe Biden. Photos of his smiling face are plastered on shop windows, and one admirer held a sign reading, “2024 — Make Joe President Again.”
A Massachusetts Air National Guardsman has appeared in court, accused in the leak of highly classified military documents.
Former President Donald Trump answered questions for nearly seven hours Thursday during his second deposition in a legal battle with New York's attorney general over his company's business practices, reversing an earlier decision to invoke his Fifth Amendment protection against self-incrimination and remain silent.
Republican Gov. Ron DeSantis has signed into law a bill approved by the Republican-dominated Florida Legislature to ban abortions after six weeks of pregnancy.
The legislation would ban abortions after a period when many women don't know they're pregnant yet.
The attorney general's new restrictions on gender-affirming care is believed to be the first that also restricts adults, not just minors.
A federal appeals court has ruled that the abortion pill mifepristone can still be used for now but reduced the period of pregnancy when the drug can be taken and said it could not be dispensed by mail.
EPA Proposes Stringent Emissions Standards on Automakers in Effort to Reduce Pollution
The second of two Black Democrats expelled from the Republican-led Tennessee House will return to the Legislature after a Memphis commission voted to reinstate him Wednesday.
