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.
Newsom said Sunday he supports increased access to condoms for teens, but vetoed the bill because it would have cost too much.
Israel’s military ordered a complete siege on the Gaza Strip on Monday, halting entry of food, fuel and supplies to its 2.3 million people as it pounded the Hamas-ruled territory with waves of airstrikes in retaliation for the militants’ bloody weekend incursion.
Donald Trump’s lawyers asked a New York appeals court Friday to halt his Manhattan civil fraud trial while they fight a court ruling that calls for dissolving companies that control some of the former president’s most prized assets, including Trump Tower.
A witness claimed that former president Donald Trump revealed potentially sensitive information about U.S. military capabilities to a former businessman.
The Securities and Exchange Commission is suing Elon Musk to compel testimony about his purchase of Twitter.
A private memorial service for Sen. Dianne Feinstein drew crowds outside of San Francisco's City Hall.
A Wisconsin man was arrested for illegally bringing a loaded gun to the Wisconsin capitol and hours later bringing an assault rifle.
A witness claimed that former president Donald Trump revealed potentially sensitive information about U.S. military capabilities to a former businessman.
The Biden administration is going to resume deporting migrants to Venezuela.
Former President Donald Trump is officially backing Rep. Jim Jordan of Ohio, the pugnacious House Judiciary Committee chairman and longtime Trump defender, to succeed Kevin McCarthy as House speaker.
