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Tag Archives: Congress

LAWMAKERS REACH DEAL ON #TAX BILL

Republicans reached a deal on final tax legislation Wednesday, clearing the way for final votes next week. The agreement between House and Senate GOP members calls for a corporate tax rate of 21 percent – 1 percentage point higher than the 20 percent rate earlier proposed – and a tax cut for wealthy Americans, dropping… read more

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SENATE TAX PLAN GAINS TRACTION

 Senate Republicans are one step closer to passing their sweeping tax code overhaul after the Senate Budget Committee Tuesday voted along party lines to advance the plan. Last-minute deals with Republican holdouts helped gain the support needed to move the bill out of committee. The full Senate is expected to consider the bill later this… read more

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#SENATE #TAX BILL PICKING UP SUPPORT

#Alaska Sen. Lisa Murkowski in an op-ed Tuesday said, “I believe that the federal government should not force anyone to buy something they do not wish to buy in order to avoid being taxed,” potentially signaling her support for the Senate’s tax code overhaul. Murkowski, who was one of three GOP senators to stand against… read more

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HOUSE POISED TO PASS #TAX BILL

The U.S. House of Representatives Thursday is poised to pass a sweeping overhaul of the tax code, eliminating the death tax and cutting taxes for corporations and individuals before the year’s end. The vote is expected to follow party lines and still faces steep hurdles as House members must reconcile their version with the bill… read more

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HOUSE MAY VOTE ON #TAX BILL

U.S. House Ways and Means Chairman Kevin Brady Monday said the House GOP has enough votes to pass its tax legislation this week. Brady said there may be a few more revisions to the bill yet this week, but they’ll be minor, setting the bill up for a possible vote Thursday. (Bloomberg)

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HOUSE REVISING TAX BILL

With Republican lawmakers still divided on the GOP’s tax code overhaul, negotiators in the House this week will get together to try to iron out some of the more divisive issues included in the proposed legislation. Speaker Paul Ryan Sunday said there are a “host of ideas” being considered as lawmakers begin revising the bill…. read more

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GOP RELEASES TAX PLAN

Republicans today released their long-awaited tax code overhaul, hoping to get the legislation marked up and passed before Christmas. The plan would cap the deduction for property taxes at $10,000 and preserve the mortgage interest deduction only for existing mortgages and new purchases with loans of $500,000 or less. The plan also calls for a… read more

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GOP DELAYS TAX BILL

House Republicans Tuesday announced they would delay the release of their tax reform bill because members were still divided over eliminating popular tax breaks to pay for the tax cuts in the bill. The bill was supposed to be released today; leaders decided to hold the bill until Thursday, so they can continue negotiations. (NPR)

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U.S. HOUSE ADOPTS BUDGET PLAN

House Republicans today narrowly adopted a budget resolution, moving President Donald Trump one step closer to his goal of passing a major tax code overhaul before the end of the year. The budget blueprint allows Congress to enact tax cuts later that increase the federal deficit by up to $1.5 trillion over 10 years. The… read more

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TRUMP CUTS A DEAL

President Donald Trump Wednesday shocked his Republican counterparts when he struck a short-term deal with Democrats to raise the debt ceiling. The deal will fund the government and raise the debt ceiling for three months, postponing a fight about fiscal matters, including whether the U.S. should fund Trump’s long-promised border wall. (Washington Post)

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