Republicans celebrated their first legislative win of the year Wednesday, after both houses of Congress passed a sweeping tax reform package. But one Democratic congresswoman told Cheddar there’s still hope for constituents who remain opposed to the bill. “Stay mobilized, let your voice be heard,” Representative Bonnie Watson Coleman (D-NJ) said Wednesday morning, after the Senate voted, but before the House reconvened. “Nothing is permanent but death and taxes, and we can do something about these taxes and we can do something about the makeup of this Congress.” The president and his party leaders gathered Wednesday afternoon to praise the benefits of the tax system overhaul, which drops the corporate tax rate from 35 to 21 percent, nearly doubles the standard deduction for individuals, and lowers the tax rate for most income brackets. While the GOP says the long-overdue changes will provide a boost to the economy, Democrats dispute that claim and say the bill will largely benefit the wealthiest Americans and balloon the deficit. The bill does appear to be broadly unpopular. A recent CNN poll found that 55 percent of respondents opposed the legislation, a 10 percentage point increase since last month. Still, it passed the House by a vote of 224-201 Wednesday afternoon, with only 12 Republican naysayers. Republicans also took to Twitter to cheer the victory. President Donald Trump posted a gif that read “Tax Cut for Christmas”. For full interview [click here](https://cheddar.com/videos/rep-bonnie-watson-coleman-d-nj-says-voters-can-change-the-makeup-of-congress-in-2018).

Share:
More In Politics
Ohio's 11th Congressional District Set For Democratic Primary
House Democrats are dealing with one of the thinnest majorities in years. Right now it's sitting at just three seats, and a handful of appointments to cabinet positions didn't help the situation. Next week, however, Democrats in Ohio's 11th Congressional District in Cleveland will decide who will ultimately replace former Rep. Marcia Fudge after the general election in November. John Barnes, one of the many democratic candidates in the Ohio 11 primary, joins Cheddar Politics to discuss.
U.S. Regulators Set Sights on Stablecoins
As Stablecoins become more popular, U.S. regulators are planning to come up with a set of parameters these companies must abide by. Even Treasury Secretary Janet Yellen and Fed Chairman Jerome Powell say regulations are necessary before Stablecoins are widely adopted. But what's the best way to regulate them and how? Cheddar's Alex Vuocolo explains.
Load More