On Tuesday the House passed the Republican Tax Plan by a 227-203 margin. Politico Tax Reporter Aaron Lorenzo explains the path forward for this legislation in the Senate, and how individuals and corporations will be impacted.
Lorenzo says he expects the GOP plan to pass the Senate, and signed by President Trump before the end of the year. The bill is a $1.5 Trillion tax cut which nearly doubles standard deduction, and cuts the corporate tax rate from 35 percent to 21 percent. Lorenzo says he expect retail to be a big winner, because they do not face a big margin.
According to a recent Gallup Poll, more than half of Americans say the proposed tax cuts would not help their families financial situation, and would not help the U.S. economy.
Christopher Zara, Senior Editor at Fast Company joined Cheddar to discuss the newly formed "DOGE"’s new goal to cut 2-trillion dollars from federal spending.
A message left at the scene of an insurance executive’s fatal shooting echoes a phrase commonly used to describe insurer tactics to avoid paying claims.
With inflation still elevated, Federal Reserve officials expressed caution at their last meeting about cutting interest rates too quickly, adding to uncert
Simon Shuster, Senior Correspondent at TIME, discusses his recent article, how the friendship between Musk and Trump may affect US spending, “DOGE” and more.
