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.
Florida Gov. Ron DeSantis was involved in a multi-car accident on Tuesday in Tennessee but was uninjured as he traveled in a motorcade to a campaign stop for his 2024 presidential bid.
The Biden administration is proposing new rules to increase coverage for mental health treatments.
The U.S. is set to send up to $400 million in additional military aid to Ukraine.
The lawyer for former NYPD commissioner Bernard Kerik turned over thousands of pages and documents to a special counsel as part of an investigation into Kerik's alleged involvement to overturn the results of the 2020 election.
The Justice Department invited the prosecutor who brought charges against Hunter Biden to testify in a public hearing this fall.
Israel’s parliament on Monday approved the first major law in Prime Minister Benjamin Netanyahu’s contentious plan to overhaul the country’s justice system, triggering a new burst of mass protests and drawing accusations that he was pushing the country toward authoritarian rule.
North Korea fired two short-range ballistic missiles into its eastern sea, South Korea’s military said Tuesday, adding to a recent streak in weapons testing that is apparently in protest of the U.S. sending major naval assets to South Korea in a show of force.
Now the federal Mine Safety and Health Administration has proposed a rule that would cut the current limit for silica exposure by half — a major victory for safety advocates. But there is skepticism and concern about the government following through after years of broken promises and delays.
Minneapolis is backing away from enforcing laws that criminalize buying psychedelic plants or using them in private.
A state trooper's account of officers denying migrants water in 100-degree Fahrenheit (37.7 Celsius) temperatures and razor wire leaving asylum-seekers bloodied has prompted renewed criticism.
