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.
Despite deepening opposition, Rep. Jim Jordan is expected to try a third vote to become House speaker, even as his Republican colleagues are explicitly warning the hard-edged ally of Donald Trump that no more threats or promises can win over their support.
Donald Trump is winning over swing state voters including in several states even leaning toward President Joe Biden, according to a recent poll by Bloomberg and Morning Consult.
A Russian-American journalist working for a U.S. government-funded media company has been detained in Russia and charged with failing to register as a “foreign agent,” her employer said Thursday.
Lawyer Sidney Powell pleaded guilty to reduced charges Thursday over efforts to overturn Donald Trump’s loss in the 2020 election in Georgia, becoming the second defendant in the sprawling case to reach a deal with prosecutors.
Republican Rep. Jim Jordan failed again Wednesday on a crucial second ballot to become House speaker, the hard-fighting ally of Donald Trump losing even more GOP colleagues who refused to give him the the gavel.
Former Treasury Secretary Jack Lew testified at his own confirmation hearing for the role of U.S. Ambassador to Israel.
The Pentagon has released video of what it calls coercive and risky maneuvers conducted by Chinese jets, saying there have been over 180 incidents that have fallen into this pattern.
The Pentagon has released videos of what it calls coercive and risky maneuvers conducted by Chinese jets, saying there have been over 180 incidents that have fallen into this pattern.
President Joe Biden is arriving in Israel for a lightning round of diplomatic efforts.
Here's what to know ahead of voting for House Speaker.
