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.
Even amid the spread of the Delta variant, Republican governors in states like Florida and Texas have taken actions like banning mask mandates for school districts that will soon bring students back for the year. This argument happens amid a stark increase in pediatric COVID cases.
Bianca Quilantan, education reporter at POLITICO, joins Cheddar Politics to discuss.
In stories sure to move markets next week, Robinhood and several retail giants report earnings, Jerome Powell takes the podium, New York City's mask mandate goes into effect, and Tesla hosts its 'AI Day.'
Former President Trump remains the standard-bearer of the Republican Party in his first six months removed from office. But despite his position atop the party, others are moving to shore up their own bona fides. Chief among them is Florida Gov. Ron DeSantis who has signed a bevy of bills popular among conservatives this year. He's viewed as a potential successor to trump, and that's creating tension with the still-present Trump.
Matt Dixon, POLITICO Florida bureau chief, joins Cheddar Politics to discuss.
None Of The Above's J.D. Durkin pens his open letter to Gov. Asa Hutchinson (R-AR) after the governor says he regrets signing a controversial COVID-19 law.
