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.
Newly released video shows the husband of former U.S. House Speaker Nancy Pelosi fighting for control of a hammer with his assailant during a brutal attack in the couple’s San Francisco home last year.
President Joe Biden touted the administration's economic achievements in a Virginia speech, while bashing Republicans for their handling of the nation's debt ceiling.
President Joe Biden has announced that the United States would be delivering 31 Abrams Tanks to Ukraine as the country heads into a new phase of its war against Russia.
Texas storms, U.S. tanks could be headed for Ukraine, and journalist deaths spiked in 2022. Here is everything you Need2Know for Wednesday, January 25, 2023.
