44.3 F
Fort Worth
Thursday, December 3, 2020
Government Congress is on track to send a massive tax cut package to...

Congress is on track to send a massive tax cut package to Trump. Here’s how Texans voted.

Other News

Exxon’s oil slick

Exxon Mobil is slashing its capital spending budget for 2020 by 30% due to weak demand caused by the COVID-19 pandemic and a market...

Folk music’s Mark Twain: 7 Essential tracks from John Prine,

NEW YORK (AP) — Some people, the songs just come out of them. For nearly half a century, they tumbled out of John Prine...

Tarrant County records another COVID-19 death

Tarrant County Public Health (TCPH) on Wednesday, April 8 reported that a resident of Euless has died as the result of the COVID-19 virus....

Tradition stymied: A year unlike any since WWII for Augusta

The Masters is so intertwined with Augusta, they added an extra day to spring break.You see, the first full week of April isn't just...

Dec. 19, 2017

WASHINGTON — The U.S. House voted for a major overhaul of the American tax code on Tuesday afternoon, a measure that, if also approved by the U.S. Senate, would mark the first significant legislative achievement of the Republican-controlled government under President Donald Trump.

The House passed a compromise bill hammered out between the two chambers on a 227-203 vote. The 36-member Texas delegation vote fell along strict partisan lines.

But after a celebratory afternoon, House GOP leaders abruptly announced Tuesday evening that they expected Senate Democrats to push back on the bill for violating some of the upper chamber’s parliamentary rules.

As a result, the House is expected to have to vote again on a similar bill in the morning. The changes are not expected to flip any votes – only delay the process.

 The Senate is expected to take up the bill later Tuesday night, and both senators from Texas – Ted Cruz and John Cornyn – are anticipated yes votes. Senate GOP leadership appears to have the votes to pass the bill, and Trump is expected to sign it into law in the coming days.

Two Texas figures have been central to moving the bill forward: U.S. Sen. John Cornyn, the lead Senate vote-counter, and U.S. Rep. Kevin Brady, the House Ways and Means committee chairman from The Woodlands.

The bill offers significant cuts in corporate taxes and, for some taxpayers, major changes to deductions. How each American is affected will be impacted by geography, family size, salary and whether a taxpayer itemizes deductions.

Republicans have bullish expectations for the tax bill’s impact on the American economy and many suggest that the expected boost in wages and other effects will offset lost revenue to government coffers. But most economists anticipate the cuts will increase the national deficit by at least $1 trillion over the next 10 years. 

Loading…

This article originally appeared in The Texas Tribune at https://www.texastribune.org/2017/12/19/congress-track-pass-massive-tax-cuts/.

Texas Tribune mission statement

The Texas Tribune is a nonprofit, nonpartisan media organization that informs Texans — and engages with them — about public policy, politics, government and statewide issues.


close






Oh hi there 👋 It’s nice to meet you.

Sign up to receive awesome content in your inbox.

We don’t spam! Read our privacy policy for more info.


close






Oh hi there 👋
It’s nice to meet you.

Sign up to receive awesome content in your inbox.

We don’t spam! Read our privacy policy for more info.

Latest News

Biden, top Democrats swing behind bipartisan virus aid bill

By ANDREW TAYLOR Associated PressWASHINGTON (AP) — President-elect Joe Biden swung behind a bipartisan COVID-19 relief effort Wednesday and his top Capitol Hill allies...

Robert Francis: Picturing City Hall

You can’t fight City Hall goes the old saying, but you can replace it. Fort Worth officials on Dec. 2 announced plans to purchase the...

Fort Worth announces plans to purchase Pier 1 Building for City Hall

Plans for a new City Hall for Fort Worth have been knocked around for years, maybe even decades. On Dec. 2, city officials announced...

U.S. Rep. Michael Burgess loses bid for GOP leadership position on key committee

U.S. Rep. Michael Burgess, R-Lewisville, conceded his bid to be the Republican leader on the House Energy and Commerce Committee on Wednesday. “I want to...

Fort Worth’s Redistricting Task Force presents draft recommendations

A City Council-appointed, 11-member Redistricting Task Force that will advise on redistricting issues in Fort Worth presented its draft criteria as part of its...