Sometimes, even politicians are surprisingly honest. When Republican Representative Chris Collins of New York candidly told reporters his donors were telling him to pass tax reform or “don’t ever call me again,” he provided a rare confirmation of what most Americans already suspected: wealthy donors expect something in return when they make large political contributions.
For some time now, United States tax codes have provided incentives for homeownership. These tax breaks were meant to encourage first home purchases with the thought that homeowners would upgrade to more expensive homes as the aged. The intended message to the American people is that to truly qualify as a middle-class family there must
Just when the Republicans were ready to have a big “we got you where we want you party,” the senator from Maine, Susan Collins, says she’s not “all in” on the vote to lower corporate taxes. She is not in favor of sticking it to the people who actually make money for these capitalistic demigods.
The tax reform bill recently passed in the Senate. As a result, President Donald Trump will have the opportunity to sign the bill and change the tax code. There are numerous changes that will take place with this new tax code. Some critics of the plan say that the new tax plan only benefits large
Republican lawmakers and White House officials are pressing ahead with the Tax Cuts and Jobs Act, which could be the first major piece of legislation of the contentious Trump administration, but two banking industry associations are objecting to a specific provision within the proposal. The two industry groups have sent a letter to the United
If House Republicans stick to their timeline, they are just one day away from presenting their long-awaited tax plan to the house. However, it has emerged that they are still racing with major key details before they present their plan. At the moment, they seem safe after securing a $1.5 trillion tax cut in the
On Tuesday, Senate Majority Leader Mitch McConnell (R-Ky.) said it was time for the Republicans to give up on health care and move on to tax reform. On Wednesday, Republicans presented the first version of their tax reform proposal. Critics argue it will increase deficits and is too generous to the wealthiest Americans. According to
The long-awaited tax reform will be unveiled next week by Senate Republicans. Experts are already speculating that the rich will be under the microscope in the new reform. Since time immemorial, the rich have always been accused of having numerous tax breaks that allow them to pay taxes at a rate of 39.6 percent. This
President Trump’s attempt at tax reform faces one of the same problems as his attempt at health care reform: a divide among Congressional Republicans. According to The Washington Post, a group of presidential advisers and congressional leaders is developing a framework they intend to release next week. However, the framework will not address the elephant