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.
The federal government is just days away from a shutdown that will disrupt many services, squeeze workers and roil politics as Republicans in the House, fueled by hard-right demands, force a confrontation over federal spending.
The Biden administration is finalizing a new rule that would cut federal funding for colleges that leave graduates with low pay and high debt after graduating.
The Biden administration is finalizing a new rule that would cut federal funding for colleges that leave graduates with low pay and high debt after graduating.
The second Republican debate last night saw several candidates try and stray away from frontrunner former president Donald Trump. Jonathan Harris, columnist and political analyst, broke down some of the most memorable moments of the debate.
House Republicans plan to make their case for pursuing an inquiry against President Joe Biden at their first hearing.
Several of Donald Trump’s rivals stepped up their attacks against him in Wednesday’s second Republican presidential debate.
U.S. Sen. Bob Menendez of New Jersey pleaded not guilty on Wednesday to federal charges accusing him of pocketing bribes of cash and gold bars in exchange for wielding his political influence to secretly advance Egyptian interests and do favors for local businessmen.
A new bill that would give marijuana businesses access to banking services is expected to move forward in the Senate.
Israeli tourists will be allowed to enter the U.S. without a visa.
U.S. officials said they have the American soldier who crossed into North Korea in July after he was expelled from that country.
