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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.
The tax overhaul of 2017 amounts to a high-stakes gamble by Republicans in Congress: That slashing taxes for corporations and wealthy individuals will accelerate growth and assure greater prosperity for Americans for years to come. A wide range of economists and nonpartisan analysts have warned that the bill will likely escalate federal debt, intensify pressure to cut spending on social programs and further widen America's troubling income inequality.
For decades, the tax code has been filled with rewards for homeownership. Tax breaks encourage people to get into first homes and to trade up as they get older, building a national mind-set that you're never quite part of the middle class until you've qualified for a mortgage.
On AM Joy, Joy Reid and Lawrence O'Donnell discussed how the supposedly deficit-hating Republicans have suddenly learned to love them. "They were looking for something like this, where can we squeeze in a tiny giveaway that goes to another income group, other than the rich," O'Donnell said.
Through a unique confluence of events, Democrat Doug Jones managed to defy the deeply Republican leanings of Alabama and win a special election on Tuesday to represent the state in the Senate. But without an alleged child predator like Republican Roy Moore on the ticket in 2020, Jones will almost certainly have an uphill climb to re-election.
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 in Congress have blended separate tax bills passed by the House and Senate into compromise legislation that seeks to achieve a sweeping overhaul of the nation's tax code. GOP leaders are looking toward passage of the final package by the House and Senate next week, with the aim of sending the measure to President Donald Trump to sign before Christmas.
Confident congressional Republicans forged an agreement Wednesday on a major overhaul of the nation's tax laws that would provide generous tax cuts for corporations and the wealthiest Americans -- Donald Trump among them -- and deliver the first major legislative accomplishment to the GOP president.
This Sept. 27, 2017 file photo shows Senate Majority Leader Mitch McConnell, R-Ky., center, joining Speaker of the House Paul Ryan, R-Wis., and other GOP lawmakers to talk about the Republicans' proposed rewrite of the tax code for individuals and corporations, at the Capitol in Washington.
According to Patrick Wilson's article, 5th District Congressman Tom Garrett and 7th District Congressman David Brat do not like the way newspapers are covering the tax debate in Congress.
The federal government collected a record amount of tax income for the month of November and also had a record level of spending for the month, producing a budget deficit of $138.5 billion, up slightly from a year ago.
Congressional Republicans on Tuesday rushed toward a deal on a massive tax package that would reduce the top tax rate for wealthy Americans to 37 percent and slash the corporate rate to a level slightly higher than what businesses and conservatives wanted. In a flurry of last-minute changes that could profoundly affect the pocketbooks of millions of Americans, House and Senate negotiators agreed to expand a deduction for state and local taxes to allow individuals to deduct income taxes as well as property taxes.
The federal government collected a record amount of tax income for the month of November and also had a record level of spending for the month, producing a budget deficit of $138.5 billion, up slightly from a year ago. The November deficit was 1.4 percent higher than a year ago, reflecting in part higher spending to deal with disaster relief and also higher spending by the Treasury Department on interest payments on the national debt, the Treasury Department reported Tuesday.
Steven Calabresi, one of the Federalist Society's co-founders, in advance of the organization's most recent annual convention last month published a paper advocating that the number of authorized federal appellate judges should be increased greatly in order to rapidly counteract the majorities of Democratic appointees currently found on various federal appellate courts. This proposal is absurd and in all likelihood counter-productive for numerous reasons.
Anne Hammer is one of millions of elderly Americans who could face a substantial tax hike in 2018 depending on the final negotiations over the Republican tax bill. Hammer is 71. Like many seniors, her medical bills are piling up.
MobileSmith and Iron Mountain Incorporated REIT are both technology companies, but which is the superior stock? We will contrast the two companies based on the strength of their valuation, risk, profitability, institutional ownership, analyst recommendations, dividends and earnings. This is a breakdown of recent ratings and target prices for MobileSmith and Iron Mountain Incorporated REIT, as reported by MarketBeat.com.
One way to kill a predatory animal is to deny it sustenance. The tax-cut bill passed by the Senate, if it clears a conference with the House and President Trump signs it, may be the first step toward starving the big government beast.
Laura Russo is just the kind of voter the Republicans need, but the party's proposed tax overhaul, which includes limits on the deductions for mortgage interest, state taxes and property taxes, is pushing her away. "I would be dramatically affected," she said.
Over the past two weeks, conservative media has been warning of a new menace loose in the corridors of Washington, a " It's the type of conspiracy theory popular in Facebook groups and Reddit forums that cater to fringe paranoia. But in this case, these ominous concerns are coming from Republican senators.
To call your Member of Congress to say "NO" to the tax deform bills?: Toll free number for the US Capitol Switchboard 1-866-220-0044 or 1-888-516-5820 - Call NOW and call often! $67 billion in tax cuts to 11 donor families to the GOP By Lynda Carson - December 5, 2017 In what appears to be a blatant GOP kick back scheme masquerading as the so-called tax cuts and jobs act, reportedly 11 families that are major campaign contributors to Republican leaders in Congress are set to receive $67.5 billion alone in estate tax cuts, if Congress is able to reconcile the two tax bills voted on by the House and Senate recently. Making matters worse, the tax bill/kick back scheme will increase the national debt by $1.4 trillion dollars.