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.
More Covid-era benefits are ending.
The Supreme Court justices are taking the bench for the first time since June in a new session.
President Joe Biden signed a spending bill late Saturday night after a last-ditch bipartisan deal to avoid a government shutdown.
California Gov. Gavin Newsom appointed Laphonza Butler, president of EMILY's List, to succeed Sen. Dianne Feinstein, who passed away last week.
Former President Donald Trump denounced the civil fraud case over his business practices as a politically motivated “scam” as he arrived defiantly for a trial in the lawsuit, which could cost him control of Trump Tower and other prized properties.
Memorial services for California Sen. Dianne Feinstein are now set.
Stocks fell to open the new week and a new month despite a bipartisan deal at the 11th hour to avoid a government shutdown.
McCarthy passed a temporary spending bill with Democratic support, enraging Gaetz and other far-right members whose demands for spending cuts were a nonstarter with the Senate and President Joe Biden.
California Gov. Gavin Newsom fulfilled his pledge to appoint a Black woman if Dianne Feinstein’s seat became open. The long-serving Democratic senator died Thursday after a series of illnesses.
Police seized computers and cellphones during searches of the Marion County Record's office and the home of its publisher in August.
