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.
Four women who attended the U.S. Coast Guard Academy, including a current cadet, are expected to testify at a Senate committee hearing about sexual assault and harassment.
The Air Force has taken disciplinary action against 15 personnel after classified documents were allegedly leaked by 21-year-old airman Jack Teixeira earlier this year.
Attorneys for Gov. Ron DeSantis are asking a federal judge on Tuesday to dismiss a free speech lawsuit filed by Disney after the Florida governor took over Walt Disney World's governing district in retaliation for the company opposing a state law that banned classroom lessons on sexual orientation and gender identity in early grades.
Federal investigators have gained access to former president Donald Trump's phone records which could be used as evidence in his 2020 election interference trial.
