Bill that would add more than $1tn to deficit, end key element of Obamacare, and open Alaska wildlife reserve to drilling would then head to Senate
House Republicans are poised to pass a major tax bill on Tuesday, which would set the stage for Donald Trump to achieve his first major legislative success in office.
The legislation, finalized in a conference report last week, would lower the top rate on families and individuals to 37% and the top rate on corporations to 21%.
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Republicans
The Trump administration’s long-awaited analysis of the GOP tax plan has bad news for Republicans
On Monday, the U.S. Treasury Department finally released its analysis of the GOP tax plan: a single page report that essentially concedes the analysis by the Joint Committee on Taxation is correct.
According to the Treasury analysis, the tax plan will cost an estimated $1.5 trillion dollars, while raising only $408 billion in revenue, leaving the country $1 trillion in the hole. This eviscerates any notion that the GOP plan will pay for itself, as previously suggested by administrat...
The GOP has a problem with paying for kids’ basic care
Fifty-six days after Congress failed to fund the Children’s Health Insurance Program (CHIP), some American children are at risk of losing their health insurance. The deadline to renew the program’s funding was Sept. 30, and Congress hasn’t granted the program $15 billion to continue.
As a result, the popular state-level insurance program for low-income children and pregnant women is facing a funding cliff. While some states may be able to keep the program going thr...