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I guess we're supposed to feel better now that the GOP tax plan is "less bad." This is from Business Insider, December 18:
The tax bill became less bad as it went through the legislative process
The Republican tax bill has changed substantially since it was first introduced in November and the changes have mostly been for the better as it's moved through the legislative process. Congress is expected to pass the tax bill this week.
https://www.aol.com/article/news/201...cess/23310679/
The wealthy Republicans in Congress have found yet another way to give themselves a tax cut.
Last-minute tax break in GOP bill benefits Trump, Corker, other real estate investors
http://www.ibtimes.com/political-cap...-trump-2629381
The wealthy Republicans in Congress have found yet another way to give themselves a tax cut.
Last-minute tax break in GOP bill benefits Trump, Corker, other real estate investors
http://www.ibtimes.com/political-cap...-trump-2629381
Breaking news! (I always wanted to say that.)
House passes GOP tax bill 227-203, sends legislation to Senate
https://www.aol.com/article/news/201...nate/23312201/
If you thought the first vote went well, just wait till you see the second vote.
House will have to vote on GOP tax bill again
Business Insider, Dec 19 2017
The House will be forced to vote for a second time on the GOP tax bill because a Senate rule forced Republicans to change it hours after leaders celebrated what appeared to be a massive legislative victory. Democrats discovered that several provisions in the bill would violate Senate rules. The legislation must comply with the Byrd rule, which stipulates that it must not be projected to add to the federal debt outside of 10 years and that all its provisions must deal with the budget.
"The Senate parliamentarian determined two minor provisions do not have budgetary impacts and had to be removed from the bill," a spokesperson for the House Ways and Means Committee told Business Insider. "The Senate will still vote tonight and the House will vote tomorrow to send the final bill to the President’s desk."
http://www.businessinsider.com/house...d-rule-2017-12
Breaking news! (Again.) Every Republican voted yea, every Democrat voted nay.
Senate approves tax reform package, sends bill back to House for final vote
http://www.foxnews.com/politics/2017...inal-vote.html
Every Democrat voted against the tax plan, calling it a "scam" benefitting the wealthy. It passed, 224-201.
House gives final approval to tax reform bill
http://www.foxnews.politics/2017/12/...d-victory.html
The elimination of certain deductions in the GOP "tax reform" bill might hurt owners of small businesses:
New tax plan won’t help small businesses after hurricane, wildfire, other disasters
https://www.nbcnews.com/business/bus...ricane-n831191
Trump said the tax bill abolished Obamacare but that is not true. It just says that people can not be forced to buy insurance or pay a fine. I think a lot of healthy people will quit paying for insurance and that will make insurance more expensive for sick people.
I have been reading about the tax bill. The standard deduction is going up and most of the tax rates are going down but that will not happen until 2019. The only thing that will happen next year is that less tax will be taken out of our paychecks.