Tax Cuts and Jobs Act
Headline Roundup November 2nd, 2017
House Republicans, seeking the biggest change in the U.S. tax code in more than 30 years, aim to reduce the corporate tax rate from 35% to 20%, compress the number of individual income tax brackets, and repeal the taxes paid by large estates starting in 2024.
The Tax Cuts and Jobs Act seeks the biggest transformation of tax code in more than 30 years; leaves top individual tax rate at 39.6%
House Majority Whip Steve Scalise said Thursday those in high-tax states will also be better off under the Republican plan.
House Republicans are set to "definitely" roll out their plan to cut taxes for the wealthy on Thursday. This is after the definite roll out for Wednesday was delayed because they’re still fighting over the details of this plan that’s been slapped together behind closed doors.
