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.
Officials in a rural Arizona county who delayed canvassing the 2022 general election results have been criminally charged, the state's top prosecutor said Wednesday.
The North American wolverine will receive long-delayed federal protections under a Biden administration proposal released Wednesday in response to scientists warning that climate change will likely melt away the rare species’ snowy mountain refuges.
