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 Pentagon has sent “prepare to deploy” orders to about 2,000 U.S. troops to be ready to respond to the Israel-Hamas war, two U.S. officials said on the condition of anonymity to discuss a decision that has not been announced yet.
The head of Israel’s Shin Bet security service has taken responsibility for not warning of the bloody Oct. 7 Hamas rampage that killed over 1,400 Israelis.
Republicans rejected Rep. Jim Jordan for House speaker on a first ballot Tuesday, as an unexpectedly numerous 20 holdouts denied the hard-charging ally of Donald Trump the GOP majority needed to seize the gavel.
The federal judge overseeing the 2020 election subversion case against Donald Trump in Washington imposed a narrow gag order on him on Monday, barring the Republican former president from making statements targeting prosecutors, possible witnesses and the judge's staff.
A 71-year-old Illinois man accused of fatally stabbing a 6-year-old boy and seriously wounding a 32-year-old woman was charged with a hate crime Sunday.
Republicans chose Rep. Jim Jordan as their new nominee for House speaker on Friday during internal voting, putting the gavel within reach of the staunch ally of GOP presidential front-runner Donald Trump.
American citizens in Israel can start leaving the country on charter flights starting Friday after the State Department said flights will take Americans and immediate family members to either Athens, Greece or Frankfurt, Germany.
The Israeli military has ordered the 1.1 million residents of northern Gaza to evacuate to the south within 24 hours as U.S. Defense Secretary Lloyd Austin arrived in Israel.
