McConnell confirms votes are there to pass tax-cut bill
GOP leaders hope to vote on Friday and send the measure to a House-Senate conference to work out the differences. They want to deliver a bill to President Donald Trump by Christmas.
GOP leaders hope to vote on Friday and send the measure to a House-Senate conference to work out the differences. They want to deliver a bill to President Donald Trump by Christmas.
Senate Republicans on Thursday pushed ahead on a sweeping revamp of the nation's tax code, with Majority Leader Mitch McConnell expressing confidence of final passage by week's end and a key Republican getting on board.
President Donald Trump said Monday that changes to the Republican tax bill are coming, as he looks to win over holdout GOP senators in an effort to pass the package by the end of the year.
Republicans passed a near $1.5 trillion package overhauling corporate and personal taxes through the House on Thursday, edging President Donald Trump and the GOP toward their first major legislative triumph this year.
The plan released Tuesday night by Senate Republicans mixes two red-hot debates by adding a repeal of the Obamacare law’s individual mandate to their tax legislation.
A left-leaning policy group sought details about expenses surrounding Mike Pence’s Oct. 8 trip and found the Indianapolis Metropolitan Police Department's costs included nearly $11,500 in overtime for tactical and traffic officers.
Senate Republicans revealed the details of their sweeping tax legislation Thursday, including a one-year delay in plans for a major corporate tax cut despite strident opposition from the White House and others in their own party.
Vice President Mike Pence said Thursday that a GOP effort to overhaul the U.S. tax code for the first time in three decades is neither a Republican or a Democrat issue, but a "jobs issue."
Vice President Mike Pence is planning a trip to suburban Indianapolis in an effort to build support for the Republican-led tax overhaul plan.
After a day of partisan bickering over whether the Republicans' sweeping tax plan would truly help the middle class, a key House panel on Monday approved late changes.
South Dakota is asking the U.S. Supreme Court to review whether retailers can be required to collect sales taxes in states where they lack a physical presence. The case could have national implications for e-commerce.
The bill would cap the mortgage-interest deductions on pricier homes, but includes no changes to popular 401(k) retirement plans. It’s not expected to repeal the Obamacare individual mandate. It would cut individual tax rates for millions of Americans, but not for earners at the very top.
The plan, expected to be released Thursday, is a long-standing goal for Capitol Hill Republicans who see a once-in-a-generation opportunity to clean up an inefficient, loophole-cluttered tax code.
House Republicans, straining to make last-minute changes to their far-reaching tax proposal, on Tuesday delayed the rollout by a day after they failed to finalize the details.
The House on Thursday gave a significant boost to President Donald Trump’s promise to cut taxes, narrowly passing a GOP budget that shelves longstanding concerns over federal deficits in favor of a rewrite of the tax code.
While the president insists the popular retirement plans will remain untouched, lawmakers are open to revisions.
The tax increase was passed by the Republican-dominated Legislature and signed into law by Republican Gov. Eric Holcomb this spring to raise money for infrastructure spending.
The senator from Indiana said fellow Republicans “can’t assume unreasonable rates of economic growth or we’re being fiscally irresponsible.”
President Donald Trump declared repeatedly the plan would provide badly needed tax relief for the middle class. But there are too many gaps in the proposal to know yet how it actually would affect individual taxpayers and families.
The plan repeals the estate tax and alternative minimum tax, lowers the corporate tax rate, and reduces the number of tax brackets while lowering the highest tax rate. One of the largest boons for the middle class would be that it doubles the standard deduction.