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.
The United States has issued its first passport with an “X” gender designation for people who don’t identify as male or female.
A group of prominent academics and activists are calling on banks and insurers to avoid the kind of systemic collapse that crippled the world economy back in 2008.
Last spring, as false claims about vaccine safety threatened to undermine the world's response to COVID-19, researchers at Facebook found they could reduce vaccine misinformation by tweaking how vaccine posts show up on users' newsfeeds.
New York City's first immersive cannabis experience, The Stone Age, is seeking to change the narrative about cannabis, just in time for legalization.
The U.N. weather agency says greenhouse gas concentrations hit a new record high last year and increased at a faster rate than the annual average for the last decade.
Facebook the company is losing control of Facebook the product — and of the carefully crafted image it’s spent over a decade selling despite problems like misinformation, human trafficking, and pervasive extremist groups on its platform.
The Supreme Court is allowing the Texas law that bans most abortions to remain in place for now but has agreed to hear arguments in the case on Nov. 1.
Some investors aren’t waiting to see if former President Donald Trump’s plans for a media company to challenge the likes of Facebook, Twitter and even Disney can actually become reality — they’re all in.
Kids aged 5 to 11 will soon be able to get a COVID-19 shot at their pediatrician’s office, local pharmacy and potentially even their school.
The global energy crisis is about to hit home in the U.S. this winter as high energy prices and expectations of a colder winter than last year put pressure on common heating fuels.
