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.
Face to face for just over two hours, President Joe Biden and Russia’s Vladimir Putin squared off in a secure video call Tuesday as the U.S. president put Moscow on notice that an invasion of Ukraine would bring enormous harm to the Russian economy.
Hawaii Flooding, Beijing Boycott & Disrupting Death
The White House says the U.S. will stage a diplomatic boycott of the upcoming Winter Olympics in Beijing to protest Chinese human rights abuses.
The Los Angeles branch of Planned Parenthood chapter has been hit by a data breach involving about 400,000 patients, but the group says there is no indication the information was used “for fraudulent purposes.”
With rising numbers of COVID-19 cases predicted this winter, President Joe Biden is appealing for Americans to get their boosters and get behind his plan to tackle the new omicron variant through wider availability of vaccines and shots.
President Nayib Bukele announced last week that the Central American country plans to issue the world's first "Bitcoin bond" early next year.
The Supreme Court’s conservative majority is signaling it will uphold Mississippi’s 15-week ban on abortion — and may go much further to overturn the nationwide right to abortion that has existed for nearly 50 years.
Mark Meadows, Donald Trump’s former chief of staff, is cooperating with a House panel investigating the Jan. 6 Capitol insurrection.
The wife of Mexican drug kingpin Joaquin “El Chapo” Guzman was sentenced Tuesday to three years in prison after pleading guilty to helping her husband run his multibillion-dollar criminal empire.
President Joe Biden is urging Americans to get vaccinated, including booster shots, as he seeks to quell concerns over the newly identified coronavirus variant named omicron.
