Senate Republicans on Thursday unveiled the substance of their tax reform bill, one week after their House colleagues released their own legislation.
U.S. Senate Republicans unveiled a tax plan on Thursday that differed from the House of Representatives’ version on several key fronts, including how they treat the corporate tax rate, the tax deduction for state and local taxes, and the estate tax.
The release of the Tax Cuts and Jobs Act of 2017 this week constitutes a monumental step forward on the path to comprehensive tax reform. House Republicans have put forward a serious and thoughtful plan to fix many of the dangerous features of our broken tax code.
Today the House is making history for taxpayers, by committing to complete the first major overhaul of our hopelessly convoluted tax system in more than 31 years. And not a moment too soon. Our families, our job creators, our competitive standing around the world, and our economic potential continue to be held back by a […]
House Republicans are so desperate for a win on taxes that they’re agreeing to proposals that would have caused internal party warfare just a year or two ago.
Republicans on Capitol Hill are officially clear to move on to tax reform, a must-pass agenda item decades in the making that will test the party’s unity and could seal their fate in the 2018 midterm election.
Cutting the corporate tax rate to 20 percent, as President Trump’s plan proposes, is projected to create more than 587,000 full-time jobs, lift wages by more than 2.5 percent, and lift GDP by 3 percent, according to a report from the Tax Foundation.
President Trump faces a stark question as he and Republicans in Congress move ahead on tax reform: Can he come up with a plan that helps the people who elected him, or will most of the rewards go to the richest Americans?
House Speaker Paul Ryan, R-Wis., said Wednesday that the GOP is pushing for passage of a tax reform bill this year in order to reignite U.S. economic growth, and deliver that growth to people in the middle class.
Speaker Paul Ryan (R-Wis.) warned Wednesday that Republicans will have to navigate the most difficult phase of tax reform yet once a bill is unveiled next week and lobbyists start fighting to preserve prized tax breaks.