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.
The death of a 5-year-old migrant boy and reported illnesses in other children living at a warehouse retrofitted as a shelter has raised fresh concerns about the living conditions and medical care provided for asylum-seekers arriving in Chicago.
New York State will create a commission tasked with considering reparations to address the persistent, harmful effects of slavery in the state under a bill signed into law by Gov. Kathy Hochul on Tuesday.
The White House is lending its support to an auto industry effort to standardize Tesla’s electric vehicle charging plugs for all EVs in the United States.
President Joe Biden has memorialized Justice Sandra Day O’Connor as a pioneer in the legal world who inspired generations of women.
Former Maryland Gov. Martin O'Malley will take on the role of head of the Social Security Administration after the Senate voted to confirm him.
President Biden's pleas for Congress to approve more Ukrainian aid before year's end appears to be coming up short.
Republican Texas Gov. Greg Abbott has approved sweeping new powers that allow police to arrest migrants who illegally cross the U.S. border and give local judges authority to order them to leave the country.
Two former Georgia election workers who won a $148 million defamation judgement against Rudy Giuliani are asking for a court order barring him from continuing to repeat the lies he spread about them following the 2020 election.
A federal appeals court on Monday ruled that former Trump White House chief of staff Mark Meadows cannot move charges related to efforts to overturn the 2020 election in Georgia to federal court.
A federal judge has issued a temporary restraining order barring removal of a memorial to Confederate soldiers at Arlington National Cemetery.
