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.
President Joe Biden ordered the United States military to carry out retaliatory airstrikes against Iranian-backed militia groups after three U.S. service members were injured in a drone attack in northern Iraq.
Donald Trump's lawyers are telling a federal appeals court that he was acting within his role as president when he pressed claims about “alleged fraud and irregularity” in the 2020 election.
The Supreme Court says it will not immediately take up a plea by special counsel Jack Smith to rule on whether former President Donald Trump can be prosecuted for his actions to overturn the 2020 election results.
A Congressional oversight committee has opened an investigation into the safety of an Osprey aircraft, weeks after a deadly crash off the coast of Japan that killed eight airmen.
Florida Gov. and presidential hopeful Ron Desantis says that he thinks the Republican primary would be different if former president Donald Trump wasn't indicted.
