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.
Hunter Biden was indicted Thursday on federal firearms charges, the latest and weightiest step yet in a long-running investigation into the president’s son.
States and Native American tribes will have greater authority to block energy projects such as natural gas pipelines that could pollute rivers and streams under a final rule issued Thursday by the Biden administration.
A federal judge has declared the DACA immigration program illegal but will allow the policy to continue for existing recipients.
A judge in former President Donald Trump's Georgia election case rejected the prosecution's request to try all of the co-defendants together.
Florida Gov. and presidential candidate Ron DeSantis said he does not support criminal penalties for women who get abortions.
Hunter Biden has sued a former Trump White House aide over his alleged role in publishing emails and personal photos online.
A federal judge has declared the DACA immigration program illegal but will allow the policy to continue for existing recipients.
A federal judge has declared illegal a revised version of a federal policy that prevents the deportation of hundreds of thousands of immigrants brought to the U.S. as children.
U.S. Rep. Mary Peltola’s husband has died in an airplane crash, her office said in a statement Wednesday.
A request by Mark Meadows for an emergency stay on a ruling that sent his Georgia election interference case back to state court has been denied.
