Republicans Reach Deal on Tax Legislation
Republicans in Congress say they have reached a deal on final tax legislation that will overhaul the U.S. tax code, dramatically impacting not only household income, but also healthcare and domestic spending. The plan would slash taxes by nearly $1.5 trillion, with the vast majority of the cuts benefiting major corporations and the richest Americans, including President Trump’s own family. The legislation would slash the corporate tax rate from 35 percent to 21 percent. It also decreases taxes for wealthy business owners. Protests took place throughout Capitol Hill on Wednesday. The move clears the way for a final vote next week. We’ll have more on the tax plan later in the broadcast.