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.
Congress has created a new requirement for automakers: Find a high-tech way to keep drunken people from driving cars.
President Joe Biden is using his first Veterans Day in office to announce an effort to better understand, identify and treat medical conditions suffered by troops deployed to toxic environments.
A judge in Michigan has approved a $626 million settlement for Flint residents and others who were exposed to lead-contaminated water.
Until recently, abortion was criminalized in Mexico. Now, Mexico's Supreme Court decriminalized abortion at the same time the strictest abortion law in the United States went into effect in Texas, changing the dynamics of seeking abortions in the region.
Biden is holding up Baltimore’s port as a blueprint on how to reduce shipping bottlenecks that have held back the economic recovery from the coronavirus pandemic
The Democrat and former police officer has since doubled down on his plans to make New York a crypto hub along the lines of Miami,
The fight over anti-abortion ordinances has moved to southwest Ohio where alleged "Sanctuary Cities for the Unborn" are spreading from Texas.
Britain’s Prince Harry has sharply attacked the failure of social media companies to challenge hate online, revealing that he warned the chief executive of Twitter ahead of the Jan. 6 Capitol riots that the site was being used to stage political unrest.
Prices for U.S. consumers jumped 6.2% in October compared with a year earlier as surging costs for food, gas and housing left Americans grappling with the highest inflation rate since 1990.
Mississippi's 2018 law banning almost all abortions after 15 weeks of pregnancy, could be the one to show whether a strong conservative majority on the Supreme Court will uphold or overturn Roe v. Wade
