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.
New York Congressman George Santos is now accused of stealing the identities of his political donors, according to a new 23-count indictment that prosecutors filed Tuesday.
A new indictment filed Tuesday charges U.S. Rep. George Santos with stealing the identities of donors to his campaign and then using their credit cards to ring up tens of thousands of dollars in unauthorized charges.
President Joe Biden on Tuesday condemned the militant group Hamas for “sheer evil” for its shocking multipronged attack on Israel launched from the Gaza Strip that has killed hundreds of civilians, including at least 14 American citizens.
More Californians with untreated mental illness and addiction issues could be detained against their will and forced into treatment under a new law signed by Gov. Gavin Newsom, a move to help overhaul the state's mental health system and address its growing homelessness crisis.
Wall Street Journal reporter Evan Gershkovich lost an appeal Tuesday to be released from jail on espionage charges, meaning he will remain behind bars at least through Nov. 30.
