On Friday, Senate Republicans rewrote the American tax code over lunch -- and passed their (partially handwritten) legislation around 2 a.m. the following morning.... While Republicans were manically outlining their plans to take from the poor to give to the Trumps, they also, accidentally, nullified all of their corporate donors' favorite deductions.... The Senate bill brings the normal corporate rate down to 20 percent -- while leaving the alternative minimum rate at.
U.S. stocks are slightly higher Wednesday morning after the Senate passed a bill that would cut corporate taxes, with the House expected to approve the measure later in the day. … Click to Continue »
WASHINGTON (AP) — House panel approves GOP legislation to deeply cut taxes for corporations, double standard deduction, simplify tax code.
Two months ago, Americans were told Republicans were in the midst of a "civil war." Their peace treaty was apparently giant tax breaks for the wealthy.
While most of the country was asleep, the United States Senate passed the Republican Tax Cuts and Jobs Act Tuesday night, 51 to 48 along party lines. The Republican tax bill, which was been repeatedly called a “legislative win” by...