Republicans Unveil Tax Bill Claiming to Benefit Middle Class
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FEATURING CHARLIE FINK – Republicans in the House finally unveiled their much talked-about tax reform bill, the massive 429-page “Tax Cuts and Jobs Act.” House Ways and Means committee chair Kevin Brady joined House Speaker Paul Ryan in announcing the bill.
Ryan said, “This plan is for the middle-class families in this country who deserve a break. It is for the families who are out there living paycheck to paycheck, who just keep getting squeezed.”
What he didn’t say is that the bill permanently cuts the corporate tax rate from the current 35% to 20%. It would also eliminate the alternative minimum tax and double the standard deduction for families in the middle income bracket. The tax reform bill does leave intact the deductions for charitable contributions and contributions to 401(k) plans.
Watch Senators Elizabeth Warren and Bernie Sanders analyse the GOP tax reform bill HERE.
Charlie Fink, writer, producer, and futurist, and a member of the Patriotic Millionaires.