BREAKING: December 20- President Trump will hold a press conference within hours to announce the historic passing of the Tax Bill and how it will create prosperity for the American people. The final votes just came in after a re-vote in the House. The total votes of 192 to 176 just made it official! Paul Ryan banged the gavel!
"Together we are unleashing a new era of American prosperity, perhaps like we have never seen before."
President, Donald Trump
The bill will give 80% of Americans a tax-cut in 2018 and the average family an additional $2,000 tax deduction. Single mother heads of households can expect a 70% tax savings and most families will get a 60% cut. Taxes for all businesses, whether large corporations or small family businesses, will be cut by more than half.
You can read a summary of the Tax Bill here:
https://www.whitehouse.gov/articles/americans-need-tax-reform/
https://www.bloomberg.com/news/articles/2017-12-20/christmas-comes-early-for-trump-with-tax-win
A "glitch" identified by the Senate made it necessary to hold a re-vote in the House:
https://www.infowars.com/watch-live-trump-secures-major-victory-just-in-time-for-christmas/
Thanks for viewing my post, Stemians! I will post new info on the passing of the Tax Bill as it becomes available, as well as Trump's press conference speech later today. What is your opinion of the passing of this historic Bill? @dakini5d
I think the fact that the individual tax cuts expire and the corporate tax cuts do not is very telling to what their intentions where when they wrote it. I am interested to see if there "pay for itself" projections are close or we will end up with a lot more than 1.5 trillion added to the debt, for very little gains on main street.
That's why it is imperative that we drain the swamp in the 2018 mid-term elections and get rid of the "lifers" in Congress and their crony capitalist pay-for-play deals. Thanks for your comment @bigguyandrusty.
@dakini5d or anybody else know if the bill will be retroactive for 2017?
Trump was trying to make it retro for 2017, but the dems and rinos rejected that. Here's an overview:
https://www.whitehouse.gov/articles/americans-need-tax-reform/
It will not