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.
U.S. Sen. Bob Menendez returns to court Monday to enter an expected not guilty plea to a conspiracy charge alleging he acted as an agent of the Egyptian government when he chaired the Senate Foreign Relations Committee.
Hamas militants on Friday freed two Americans -- a mother and her teenage daughter who had been held hostage in Gaza since militants rampaged through Israel two weeks ago, the Israeli government said.
A Texas judge has ruled that Infowars host Alex Jones cannot use bankruptcy protection to avoid paying more than $1.1 billion to families who sued over his conspiracy theories that the Sandy Hook school massacre was a hoax.
Former President Donald Trump was fined $5,000 on Friday after a disparaging social media post about a key court staffer in his New York civil fraud case was allowed to linger on his campaign website after the judge ordered it deleted.
Lawyer Kenneth Chesebro pleaded guilty to a felony on Friday just as jury selection was getting underway in his trial on charges accusing him of participating in efforts to overturn Donald Trump’s loss in the 2020 election in Georgia.
