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.
Authorities say two Ecuadoran children were abandoned by smugglers after being dropped over a 14-foot-high barrier along the U.S.-Mexico border Tuesday evening.
The still-elevated number of unemployment claims shows that many employers are still cutting jobs even as more businesses reopen, vaccines are increasingly administered and federal aid spreads through the economy.
With President Biden unveiling a $2.9 trillion infrastructure plan, the old gas tax formula may not be able to serve as a matching revenue source, especially with the consistent drumbeat of growing the electric vehicle market.
The Minneapolis officer who put his knee on George Floyd's neck defended himself to a bystander afterward by saying Floyd was “a sizable guy” and “probably on something."
The Biden administration for the first time has allowed journalists inside its main border detention facility for migrant children.
Microsoft won a nearly $22 billion contract to supply U.S. Army combat troops with its virtual reality headsets.
President Joe Biden wants $2.3 trillion to reengineer America’s infrastructure and expects the nation’s corporations to pay for it.
Andrew Williamson, vice president of global government affairs and economic adviser for Huawei, spoke to Cheddar about the Chinese telecom company's lack of communication with President Biden regarding ongoing trade tensions with the U.S.
As Cheddar celebrates phenomenal women during the month of March, we're taking a second to highlight a few trailblazers who have helped shape the world we live in.
It's official: Lawmakers and Gov. Cuomo have made New York the 15th state to legalize marijuana for recreational use.
