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).
Stocks are opening lower on Wall Street as the market gives back some of the gains it piled up over the past three days. Major indexes are down more than 3% in early trading Friday.
British Prime Minister Boris Johnson has tested positive for the new coronavirus, but remains in charge of the U.K.’s response to the outbreak.
Stocks are surging again on Wall Street as a massive coronavirus relief bill gets closer to passing Congress. Major indexes jumped more than 6%, bringing the S&P 500 up 17% since Monday.
Stocks are rising more than 3% early Thursday, putting the market on track for its first three-day rally in six weeks, even as the astonishing scale of the downturn slamming the economy because of the coronavirus becomes more apparent.
House Speaker Nancy Pelosi said she is 'very proud' of the $2.2 trillion coronavirus aid package and confirmed the House will take up the package Friday.
On Tuesday the chairman of the FDIC put out a public service announcement urging people to keep their cash in the bank, as customers of U.S. banks and credit unions have been making big withdrawals in the midst of the coronavirus pandemic and recession.
After a day of uncertainty, the Senate unanimously passed a $2.2 trillion coronavirus relief bill late Wednesday. 4
The Senate passed an unparalleled $2.2 trillion economic rescue package steering aid to businesses, workers and health care systems engulfed by the coronavirus pandemic.
resident Donald Trump is imploring Congress to move on critical coronavirus aid without further delay. Senate leaders are trying to overcome late objections to a $2 trillion economic rescue package to ease the financial pain of the pandemic.
Stocks scored their first back-to-back gains since a brutal sell-off began five weeks ago, but much of an early rally faded late in the day as a last-minute dispute threatened to hold up a $2 trillion economic rescue package in Congress.
