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Republicans in Congress are likely to pass their tax bill this week, raising questions about House Speaker Paul Ryan's future and what, if anything, will happen next year
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As Republicans prepare to pass their massive tax overhaul, they are planning to lessen, or even eliminate, the estate tax. Critics say the tax plays an important role in making the economy fair.
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If the GOP can reconcile differences in the tax bills passed by the House and Senate, President Trump could have his wish for signing the $1.4 trillion tax overhaul into law by Christmas.
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Some senators want the tax overhaul to come with a built-in trigger: If budget deficits grow, tax cuts will be reversed. But several key senators strongly oppose the idea.
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The White House budget director said the Senate GOP bill cuts individual rates for just eight years to "game the system" and hopes those cuts become permanent. It happened before, sparking a crisis.
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The GOP measure would sharply reduce corporate tax rates and double the standard deduction many individuals take. Senate Republicans have their own bill, which could pass a committee vote on Friday.
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The House and Senate bills are structurally similar, but they diverge on some major policies that could be hard to reconcile before the end of the year.
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One day after the Trump administration unveiled its tax overhaul plan, Vice President Mike Pence made a stop at a manufacturing plant in Waukesha to…
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After months of private negotiation, President Trump and GOP congressional leaders have revealed the outline of their tax plan. It calls for cuts in both individual and corporate tax rates.
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The details of the measure will be worked out in talks with Congress; the effect on the deficit is unknown.