Tax plan passed - Hometownstations.com-WLIO- Lima, OH News Weather Sports

Tax plan passed

Posted:
Three key things that the bill will do is cut individual taxes, cut the corporate rate, and do away with some popular tax breaks. Three key things that the bill will do is cut individual taxes, cut the corporate rate, and do away with some popular tax breaks.

Once in a generation, a tax plan this big hasn't been done for 30 years. Now, Congress has moved closer to finalizing a plan that puts many questions on the table, for who it will benefit.

For the average taxpayer what does this all mean? Three key things that the bill will do is cut individual taxes, cut the corporate rate, and do away with some popular tax breaks. Democratic Senator Sherrod Brown says that some of these things are temporary and will make it harder for middle class Americans. He also states that some last minute changes were slipped in the back of the bill regarding healthcare.

This historic bill won't officially become law until it is combined and refined with the House's version. Republicans hope to put it on President Trump's desk by the end of the year.

/
Loading...