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With the tax bill complete and two key Senate Republicans promising a "yes" vote Friday, Republicans are rolling at full speed to pass the bill through Congress and land it on President Donald Trump's desk before the end of the week. Both chambers had planned to go into holiday recess at the end of last week, but delayed it a week to push through the tax reform vote and get home before Christmas.
A new controversy has emerged about the tax reform bill - namely, how it will now benefit Trump's bottom line As the Republican tax reform bill winds its way through Congress, two new developments have taken center stage: Sen. John McCain, R-Ariz., won't be able to vote for the final measure, and President Donald Trump will be enriched by a new provision that was added to it. McCain headed home to Arizona on Sunday to recover from the effects of chemotherapy treatment he had received in a Maryland hospital for a form of cancer with which he's been diagnosed, according to CBS News .
The fourth-largest wildfire in California history continues to grow and threaten thousands of homes despite armies of fire crews and fleets of bulldozers and aircraft. President Trump is poised to bask in the triumph of his first major legislative victory with the likely passage of tax legislation this week.
The Senate and House of Representatives are set to vote on the consolidated tax reform bill this week. With its passage looking likely, it will then head to President Trump's desk for signing shortly before Christmas.
With a vote on the biggest tax rewrite in three decades set for Tuesday, Republicans were working to ensure party members were holding the line in favor of the legislation against entrenched Democratic opposition. The plan was finalized on Friday after Republican Senators Marco Rubio and Bob Corker pledged their support.
WASHINGTON: Congressional Republicans on Friday unveiled the final version of their dramatic US tax overhaul - debt-financed cuts for businesses, the wealthy and some middle-class Americans - and picked up crucial support from two wavering senators ahead of planned votes by lawmakers early next week. Passage of the biggest US tax rewrite since 1986 would provide Republican lawmakers and President Donald Trump their first major legislative victory since he took office in January.
President Trump is brushing off concerns that the GOP's final tax bill will unfairly benefit wealthy Americans over the middle class. "I think the greatest benefit is going to be for jobs and the middle class," Trump told reporters Saturday on the South Lawn prior to his departure for Camp David.
Trump defends tax cuts as good for middle class as congressional Republicans signal they have enough votes to pass bill before Christmas President Donald Trump is defending the Republicans' tax cut plan, pushing back against criticism that it will benefit the wealthy more than the middle class. Speaking to reporters at the White House Saturday before leaving for Camp David, Trump said the middle class will benefit because the tax cut will draw companies back from overseas, creating jobs.
Closing in on the first major legislative achievement of his term, President Donald Trump on Saturday defended the Republican tax cut as a good deal for the middle class while boldly suggesting it could lead to explosive economic growth. The legislation, which the GOP aims to muscle through Congress next week, would lower taxes on the richest Americans.
U.S. Speaker of the House Paul Ryan listens beside Rep. Darin LaHood, House Majority Leader Kevin McCarthy and House Majority Whip Steve Scalise during a news conference on Capitol Hill Dec. 12 in Washington, D.C. WASHINGTON - Republicans in Congress say passing their sweeping tax reform plan will be a Christmas gift to the American people -- and it looks like Republican voters are already starting to give back. A new Quinnipiac University poll this week found that Republicans' views of their own party in Congress are above water for the first time since June, climbing from a 32-60 percent approval rating to a 47-43 percent score over the last month as the first drafts of tax reform passed both chambers.
Despite the sheer size and society-spanning impact of the $1.5 trillion tax overhaul, the quickest and most potent political victory that Republicans would savor by pushing the bill through Congress next week may be what it averts: another big GOP legislative crash in the age of Trump. Even if Republicans are correct that tax cuts for business and the wealthy bolster the economy, it can take time for obvious results to show.
House and Senate negotiators released the final version of their tax bill late yesterday , and after several tweaks to satisfy wayward Republican Senators it appears to be on track to pass both chambers of Congress next week and head to the President's desk before the Christmas break: Republican lawmakers appeared to secure enough votes on Friday to pass the most sweeping tax overhaul in decades, putting them on the cusp of their first significant legislative victory as leaders geared up to pass a $1.5 trillion tax cut along party lines and send it to President Trump by Christmas.
Republicans working to execute their first major legislative achievement of Donald Trump's presidency appear to have secured the votes to pass a massive tax overhaul that Trump hoped to present to the American people for Christmas. "This is happening.
Republicans solidified support for their major overhaul of the nation's tax laws Friday, securing endorsements from wavering senators as they pushed to muscle their bill through Congress next week and give President Donald Trump his first major legislative victory. Republican Sens. Marco Rubio of Florida and Bob Corker of Tennessee announced Friday that they would back the bill, the most sweeping rewrite of the tax code in more than three decades.
After weeks of quarrels, qualms and then eleventh-hour horse-trading, Republicans revealed the details of their huge national tax rewrite late Friday - along with announcements of support that all but guarantee approval to give President Donald Trump the Christmas legislative triumph he's been aching for. The legislation would slash tax rates for big business and lower levies on the richest Americans in a massive $1.5 trillion bill that the GOP plans to muscle through Congress next week before its year-end break.
Sen. Marco Rubio made headlines yesterday when it was reported that he would refuse to support the Republican tax bill unless the child tax credit was expanded. Now, it looks like Rubio's gambit has paid off - at least partially - as the latest version of the bill is said to contain an increased child tax credit.
That's a significant tax break for the very wealthy, The new tax break for millionaires goes beyond what was in the original House and Senate bills. a Starting on Jan. 1, 2018, big businesses would see their tax rate fall from 35 percent to 21 percent, the largest one-time rate cut in U.S. history for America's largest companies.
After weeks of quarrels, qualms and then eleventh-hour horse-trading, Republicans revealed their huge national tax rewrite late Friday - along with announcements of support that all but guarantee approval next week in time to give President Donald Trump the Christmas legislative triumph he's been aching for. The legislation would slash tax rates for big business and lower levies on the richest Americans in a massive $1.5 trillion bill that the GOP plans to muscle through Congress before its year-end break.
U.S. stocks moved broadly higher in afternoon trading Friday, erasing modest losses from the day before and placing the major indexes on course for new highs.
U.S. stocks are indicated to open higher on Friday, rebounding from losses in the previous session that were brought on by doubts expressed by some GOP lawmakers over the tax bill in Congress. 1 . -- U.S. stocks were indicated to open higher on Friday, Dec. 15, rebounding from losses in the previous session that were brought on by doubts expressed by some GOP lawmakers over the tax bill in Congress.