GOP negotiators are still hammering out the final details of the party’s tax plan, in a reported effort to have the proposal on President Trump’s desk by next week. A CBS News poll from last week found that 53 percent of people nationwide disapprove of the GOP tax bill, while only 35 percent approve.
Democrats argue that the bill raises the national deficit over $1 trillion, hurts the middle class, and makes the rich richer. Rep. Donald McEachin (D-VA) added another woe to the mounting list: the proposed tax reform would actually hinder Trump’s aggressive military buildup promises.
“The American people are the losers under this bill,” he said, enumerating all of the issues he sees with the proposed legislation. “In addition, in a state like mine (Virginia), where military spending is so important, they’re robbing the military as well from buildup.”
For full interview [click here](https://cheddar.com/videos/rep-donald-mceachin-d-va-says-the-gop-tax-plan-has-caused-the-party-to-lose-all-credibility).
The U.S. Treasury Department has changed the standard for what kind of electric vehicles qualify for a federal tax benefit under the Inflation Reduction Act.
New York Republican Rep. George Santos is temporarily stepping down from his congressional committee assignments amid ongoing investigations surrounding his fabrications.
British energy giant BP predicts that fossil fuels as a primary energy source will decline from 80 percent in 2019 to between 55 and 20 percent in 2050.
The costs of COVID-19 vaccines are expected to skyrocket once the government stops buying them, with Pfizer saying it will charge as much as $130 per dose, and millions of people are expected to be kicked off of Medicaid.
TikTok CEO Shou Zi Chew will testify before Congress in March about the app's security and its ties to China.
The House Speaker said he wants to address spending cuts along with raising the debt limit, even though the White House has ruled out linking those two issues together as the government tries to avoid a potentially devastating financial default.
The Federal Reserve's preferred gauge of inflation showed the pace of price increases is slowing.
Newly released video shows the husband of former U.S. House Speaker Nancy Pelosi fighting for control of a hammer with his assailant during a brutal attack in the couple’s San Francisco home last year.
The Biden administration released the "renters' bill of rights" as rent prices soar.
President Joe Biden touted the administration's economic achievements in a Virginia speech, while bashing Republicans for their handling of the nation's debt ceiling.
