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.
Asa Hutchinson, who recently completed two terms as Arkansas governor, said Sunday he will seek the Republican presidential nomination, positioning himself as an alternative to Donald Trump just days after the former president was indicted by a grand jury in New York.
Prosecutors say Donald Trump conspired to undermine the 2016 election through a series of hush money payments designed to stifle claims that could be harmful to his candidacy.
He is expected to be joined in Florida by supporters as he tries to project an image of strength and defiance and turn the charges into a political asset to boost his 2024 presidential campaign.
Board members picked by Florida Gov. Ron DeSantis to oversee the governance of Walt Disney World said Wednesday that their Disney-controlled predecessors pulled a fast one on them by passing restrictive covenants that strip the new board of many of its powers.
The federal government has filed a lawsuit against railroad Norfolk Southern over environmental damage caused by a train derailment on the Ohio-Pennsylvania border that spilled hazardous chemicals.
The charges in the indictment, made by a Manhattan grand jury, center on payments made during the 2016 presidential campaign to silence claims of an extramarital sexual encounter.
