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.
A witness claimed that former president Donald Trump revealed potentially sensitive information about U.S. military capabilities to a former businessman.
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.
Some U.S. lawmakers are calling on social media platforms X, Facebook and Instagram to explain why they aren't imposing new labels on deceptive AI-generated political advertisements that could fake a candidate's voice or actions.
U.K. Prime Minister Rishi Sunak on Wednesday proposed raising the legal age that people in England can buy cigarettes by one year, every year until it is eventually illegal for the whole population and smoking will hopefully be phased out among young people.
A man illegally brought a loaded handgun into the Wisconsin Capitol, demanding to see Gov. Tony Evers, and returned at night with an assault rifle after posting bail, police said Thursday.
