Congressional Republicans delivered on their first major legislative accomplishment of the Trump era on Wednesday, when the House voted 224-201 to pass a $1.5 trillion tax package. The bill cuts individual rates for eight years and slashes the top corporate tax rate to 21 percent permanently.
Republicans in Congress approved a sweeping and controversial $1.5 trillion tax overhaul, with the Senate voting early Wednesday along straight party lines to move the measure forward.
The Republican tax bill that the House and Senate are set to pass as soon as Tuesday night would give most Americans a tax cut next year, according to a new analysis. However, it would by far benefit the richest Americans the most. Meanwhile, many lower- and middle-class Americans would have higher taxes a decade from how...unless a future Congress extends the cuts.
On Friday evening, congressional Republicans released the final version of their tax overhaul plan. Below are two charts showing how individual filers could be affected if this bill is passed and signed into law.
On the latest edition of the Politically Speaking podcast, St. Louis Public Radio’s Jason Rosenbaum and Jo Mannies welcome back U.S. Rep. John Shimkus to the show for the third time.
