Published: Sun, November 19, 2017
Markets | By Erika Turner

Rogers trumpets tax reform bill

Rogers trumpets tax reform bill

On Thursday, the House passed House Resolution 1, the Tax Cuts and Jobs Act, to simplify and modernize our unwieldy tax code.

House Majority Whip Steve Scalise says too many companies are moving overseas to do business because it's too expensive in the U.S. He adds this legislation will make it easier for everyday Americans to do their own taxes.

Included in the changes are corporate tax rates that would fall from 35 percent to 20 percent. The Tax Cuts and Jobs Act, now under consideration in the Senate Finance Committee, lowers taxes for families in every income group. "It will stimulate our nation's economy, create jobs, and put more money into the pockets of hardworking Americans". Additionally, the plan lowers the tax rate on small businesses to the lowest it has been since WWII. Rovell provides a couple examples of this arrangement in action: LSU, for example, only makes 50-yard-line season tickets available to people who've donated a certain amount to something called the Tradition Fund-this year, the amount was reportedly $1,025 per ticket; at Duke, the minimum donation for season tickets at Cameron Indoor Stadium is $4,000 per seat, for seats that already run a few thousand bucks. This tax plan is also expected to create almost 30,000 new jobs in Georgia alone, while raising the after-tax income for middle-class Georgia families by more than $2,300.

Hafeez's bowling action deemed illegal
Just 2 months after that he was once again reported for illegal action during a Test against Sri Lanka at Galle. This is not the first time the veteran Pakistani all-rounder has been banned from bowling in worldwide cricket.

"Finally, the days of complicated itemized tax returns will be a thing of the past. So 9 out of 10 of my constituents should be able to file their taxes on a post card".

Sen. Ron Johnson, R-Wis., announced Wednesday that he would not vote for the Senate tax plan as it stands. It's going to be jobs growth, job opportunities and, ultimately, it's going to mean increased economic activity and an increased number of people that are in the workforce that are working, that are paying taxes.

The Senate Finance Committee is expected to vote its version of the tax reform bill out of committee on Friday, according to The New York Times, with a full Senate vote expected after Thanksgiving. By 2027, families making less than $75,000 would face tax boosts while those making more would see cuts. Ron Johnson became the first Republican senator to oppose to the measure, saying it didn't cut taxes enough for millions of partnerships and corporations.

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