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 Centers for Disease Control and Prevention has issued a new moratorium on evictions that would last until Oct. 3.
Cuomo Report, Evictions Halted & Passenger From Hell
The Biden administration will announce a new 60-day eviction moratorium that would protect areas where 90% of the U.S. population lives.
An investigation into New York Gov. Andrew Cuomo has found that he sexually harassed multiple current and former state government employees.
New York City will soon require proof of COVID-19 vaccinations for anyone who wants to dine indoors at a restaurant, see a performance or go to the gym, Mayor Bill de Blasio announced Tuesday.
Biles Takes the Beam, Vax Milestone & 'Lord of the Rings' First Look
Sen. Lindsey Graham has tested positive for the coronavirus. The South Carolina Republican is the first senator to disclose a breakthrough infection after being vaccinated.
A growing number of businesses are requiring their employees to get vaccinated against COVID-19, alarmed by the rise of the more contagious delta variant and frustrated that vaccination rates in the U.S. have plateaued.
A California law taking effect Jan. 1 could make pork harder to find and more expensive.
Senate Majority Leader Chuck Schumer is looking to speed up consideration of a nearly $1 trillion bipartisan infrastructure package.
