*By Justin Chermol*
According to House Ways and Means Committee Member Judy Chu, the GOP "made false claims" about the tax bill that passed in December of 2017 and is taking effect this tax season.
"They said things like the American public would get on the average a $4,000 per person increase. Well, that is certainly not the case. There are many Americans that will not have enough, and will actually pay more in taxes than what they originally thought," Chu, a California Democrat, told Cheddar.
As the first tax season impacted by the reform legislation got underway, many Americans were surprised by receiving smaller refunds than expected ーor by getting tax bills. In many cases, the difference was due to a change in IRS withholding tables that left more money in people's paychecks while shrinking the size of their refunds. In other cases, the actual tax bill increased due to changes to the law like a new cap on property and local income tax deductions.
Chu blames the confusion on the rushedー and secretive ー nature of the legislation.
"I think that the tax bill was done haphazardly, in the dead of night. In fact, it was done in 51 days, there were virtually no hearings on this, and people didn't have a chance to even really look at it before it was passed by Republicans," she said. "So as a result, it was not planned for properly."
In response, the #GOPTaxScam hashtag has resurfaced on social media platforms in recent weeks.
Chu said she is also hearing that outrage directly from constituents.
"I've had letters from my constituents saying that they have to pay $3,000 more on their taxes ー something that really upsets them and really hurts their budget," Chu told Cheddar.
Now that Democrats have gained control of the House, Chu said there are plans to revisit the legislation.
"We want to have hearings right away about the true impact of tax law," she said.
President Donald Trump’s doubling of tariffs on foreign steel and aluminum could hit Americans in an unexpected place: grocery aisles.
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House Republicans stayed up all night to pass their multitrillion-dollar tax breaks package.
President Donald Trump has implored House Republicans on Capitol Hill to drop their fights over his budget.
American businesses that rely on Chinese goods are reacting with muted relief after the U.S. and China agreed to pause their exorbitant tariffs on each other’s products for 90 days. Many companies delayed or canceled orders after President Donald Trump last month put a 145% tariff on items made in China. Importers still face relatively high tariffs, however, as well as uncertainty over what will happen in the coming weeks and months. The temporary truce was announced as retailers and their suppliers are looking to finalize their plans and orders for the holiday shopping season. They’re concerned a mad scramble to get goods onto ships will lead to bottlenecks and increased shipping costs.
Senate Democrats have blocked legislation to regulate a form of cryptocurrency after arguing that the bill needed stronger protections.
