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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.
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.
The stone bridge was built in the early 19th century and in use until 1957 when it was replaced by what is now U.S. 50. The land has had numerous owners, including former U.S. Sen. John Warner, who donated 12 acres to the Fauquier and Loudoun Garden Club.
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.
Senator Rand Paul has been a colorful and often controversial character for all of his political career, a reputation that was even partially set up for him at a young age thanks to his father Ron Paul, an equally flamboyant character. So, when news reports began trickling in that Senator Rand had apparently been attacked by his neighbor all kinds of theories were flying around about how the attack could be related to his political positions.
Significant differences separate the massive tax packages passed by the House and Senate on estate taxes, health care and a prized deduction for home mortgage interest, though Republican leaders are confident none is insurmountable. "We're looking forward to getting a final bill to the president's desk, soon," Senate Majority Leader Mitch McConnell, R-Ky., said Monday.
I am an old-fashioned kind of guy: when I do business with a company, I want to purchase good products and services for a reasonable price. Maybe it's odd enough in these times, but I don't want the company I am doing business with to be either cheating me or to be engaged in criminal enterprises.
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Senate Republicans narrowly approved the most sweeping rewrite of the U.S. tax code in three decades, slashing the corporate tax rate and providing temporary tax-rate cuts for most Americans. The 51-49 vote -- achieved only after closed-door deal-making with dissident senators -- brings the GOP close to delivering a much-needed policy win for their party and President Donald Trump.
Even Bruce McGuire, founder of the Connecticut Hedge Fund Association, understands if wealthy Northeasterners flee the region due to changes in the tax code. The problem for the Connecticut hedge-fund set - and, more broadly, for a lot of the Wall Street crowd - is that Republican proposals in both the House and Senate would drive up taxes for many high-earners in the New York City area.
The U.S. consumer watchdog agency, enmeshed in partisan politics since its creation after the 2008 financial crisis, is now at the centre of a tug-of-war over who will lead it. Both the departing director - an Obama appointee often criticized as being too aggressive by banks and Congressional Republicans - and the White House have named interim leaders of the Consumer Financial Protection Bureau.
In this March 26, 2015, file photo, Consumer Financial Protection Bureau Director Richard Cordray speaks during a panel discussion in Richmond, Va. Cordray, the first director of the Consumer Financial Protection Bureau, tendered his resignation Friday, Nov. 24, 2017, and simultaneously named his own successor, setting up the consumer agency for another battle with the Trump White House over control of the powerful federal watchdog.
Dorsey usually hosts a large Thanksgiving dinner for f... . In this Nov. 17, 2017 photo, George Dorsey walks through his hurricane-damaged home in Houston.
In this Nov. 17, 2017 photo, George Dorsey walks through his hurricane-damaged home in Houston. He usually hosts a large Thanksgiving dinner for family but is making other arrangements this year as he continues to recover from Hurricane Harvey.
The house at 42 Rutledge Ave. actually was chopped in two so the rear and front portions could be raised separately. The rear portion was raised first.
Hoping to avoid another round of unpopular bailouts, financial watchdogs have forced too-big-to-fail banks to make themselves less dangerous by adding lots of capital that safeguards against losses. But regulators continue to monitor these financial institutions, creating a list of 30 "systemically important" banks that deserve extra scrutiny.
In this photo released by The White House, Monday, Nov. 20, 2017, two turkeys set to be pardoned by President Donald Trump are shown in a Washington hotel, Sunday Nov. 19, 2017. President Trump will pardon them on Tuesday.
U.S. Rep. Randy Hultgren, R-Illinois, says the watchdog agency, created by the Dodd-Frank Financial Regulatory Reform Bill, has overstepped its mission under its current director, Richard Cordray. "The intention of those who pushed this in through the Dodd-Frank legislation was to make it a completely unaccountable bureau," Hultgren said.