Lawmakers Are Working To Ban 'Hush Money' Tax Deductions
The current U.S. tax code allows businesses to write off sexual misconduct-related settlements as "ordinary and necessary" expenses.LEARN MORE
Both chambers are expected to vote on the bill Monday and Tuesday. Lawmakers hope to send it to President Donald Trump's desk by Christmas.
The House and the Senate have officially unveiled the latest version of the tax overhaul bill.
If the blended bill passes, it would lower the corporate tax rate from 35 percent to 21 percent. For individual tax rates, the bill proposes seven income brackets and would set the top individual tax rate at 37 percent, down from 39.6 percent.
The legislation would also put the mortgage interest deduction threshold at $750,000 and would repeal the Affordable Care Act's individual mandate.
Both chambers are expected to vote on the bill Monday and Tuesday. And lawmakers say they hope to send the final version to President Donald Trump's desk by Christmas.
GOP presidential hopeful Ron DeSantis called the motion to vacate McCarthy "performative" and the "typical theatrics" we've grown used to in D.C.
Immediately following the vote to remove McCarthy, Patrick McHenry of North Carolina was named speaker pro tempore.
In choosing Butler, California Gov. Gavin Newsom fulfilled his pledge to appoint a Black woman if Feinstein’s seat should become open.
Kevin McCarthy has had his eyes on the role of Speaker of the House since at least 2015. Now he's been removed from the post after 269 days.
Police told Morgan State University to shelter as they responded to an active shooter in the area. Multiple people were reportedly shot around 9 p.m.
President Biden held a call Tuesday morning with nearly a dozen leaders of allies and partners to reaffirm the U.S. commitment to Ukraine.