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).
The number of Americans seeking unemployment benefits fell last week to 473,000, the latest evidence that fewer employers are cutting jobs as consumers ramp up spending and more businesses reopen.
A worrisome bout of inflation struck the economy in April, with U.S. consumer prices surging 0.8%, the largest monthly jump in in more than a decade and the year-over-year increase reaching its fastest rate since 2008.
Republicans have dumped Rep. Liz Cheney from her House leadership post. The reason: Her persistent repudiation of President Donald Trump’s election falsehoods.
The Florida city's appeal to outside companies isn't limited to the world of crypto, but to tech writ large.
A federal judge has dismissed the National Rifle Association’s bankruptcy case.
President Joe Biden is highlighting new programs from ride-sharing companies Uber and Lyft to provide free rides to and from vaccination sites as the pace of vaccination shots nationally declines.
A year after an agreement to sell Victoria’s Secret fell apart as the pandemic emptied malls nationwide, the chain will be spun off by its owner to become a separate company
The Food and Drug Administration said Monday the shot is safe and offers strong protection for younger teens based on testing of more than 2,000 U.S. volunteers.
The U.S. Navy says it has seized an arms shipment of thousands of assault weapons, machines guns and sniper rifles hidden aboard a ship in the Arabian Sea.
From Wall Street to Silicon Valley, these are the top stories that moved markets and had investors, business leaders, and entrepreneurs talking this week on Cheddar.
