To receive daily emails from Breaking Christian News to your inbox CLICK HERE


SHARE THIS ARTICLE Printer friendly version of this page

Passed! The Largest Tax Overhaul for America Since the Regan Administration

Abigail Robertson : Dec 20, 2017  CBN News

"This is profound change, and this is change that's going to put our country on the right path." -House Speaker Paul Ryan

(Washington, DC)—[CBN News] Republicans are calling this a moment decades in the making—passing the largest tax overhaul since the Reagan administration. (Screengrab via CBN News)

"This is profound change, and this is change that's going to put our country on the right path," House Speaker Paul Ryan, R-WI, declared on Tuesday.

[UPDATE via Fox News: The House gave the final stamp of approval Wednesday to a sweeping tax reform package, sending the deal to Trump's desk to be signed after a 224-201 vote]

"Starting next year in February, every American should check their check, because they're going to get more money to bring home," House Majority Leader Kevin McCarthy, R-CA, told CBN News.

The new tax plan slashes the corporate tax rate from 35% to 21%, which McCarthy says will lead to economic and job growth. It also doubles the standard deduction to $12,000 for single filers and $24,000 for married couples.

"If you take an average family of four making $73,000, they're going to save $2000 on their taxes," McCarthy said. "It lets you keep more of your money. So many Americans who live paycheck-to-paycheck or struggle to be able to have that vacation or save for your kids' college, this is going to make a difference.

And for many, it simplifies the tax filing process down to a postcard.

"The uniqueness is instead of spending weeks and paying someone to do your taxes, you do it in minutes, that's the difference," McCarthy added.

Democratic opponents call the bill a "tax scam" and argue it is just a cut for the wealthy and will raise taxes for the middle class.

But McCarthy says that's just misinformation, and urges everyone to read the bill.

"Just read the bill, don't judge anybody else, read the bill and at the end of the day, you're going to be able to pay less because the rates go down," the California congressman said. "You double the standard deduction so already off the bat, you get twice as much tax free to start out with."

Once the bill passes the house a second time, it will be on its way to the president's desk.

Even after the second House tax vote today, the work in Washington will not be over. Lawmakers still face a budget deadline by the end of this week; no agreement and the government will shut down.







SHARE THIS ARTICLE Printer friendly version of this page

To receive daily emails from Breaking Christian News to your inbox CLICK HERE

Other Recent Articles from Breaking Christian News

HERO: 13-Year-Old Credits God After Miracle 4-Hour Swim to Save Family [Video]

The Young Evangelical Woman behind a Viral Message of Faith and Freedom for Cuba

What Constitution? Progressive States, Cities Join WHO Globalist Network after US Withdrawal

'Largest Act of Deregulation': Trump to Roll Back Obama-Era Greenhouse Gas Rule

'Strong Standards of Safety': Trump Admin Removes 2000 Unqualified Truckers from Roads, Many for English Proficiency Violations

Clinton-Appointed Judge Strikes Down California Mask Ban on ICE Agents

Netanyahu to Meet Trump With Iran Missiles High on Agenda

The Democrats' Trump-Epstein Smear Campaign Just Collapsed

[Watch] Powerful Pro-life Super Bowl LX Commercial Champions Option of Adoption

Seahawks MVP and Coach Give Thanks to God after Super Bowl Victory

Israel Hails Takaichi's Landslide Win in Japan

Georgia Co. Fires Officer for Confronting Trans (Biological Male) Who Used the Ladies' Room [Video]

Ghislaine Maxwell Declines to Answer Questions in House Deposition

California: SBA Suspends 12,000 Borrowers Suspected of $9 Billion of Fraud [Video]

Second Ransom Deadline Approaches in Nancy Guthrie Disappearance

Millions Tune in to TPUSA's 'All American Halftime' Super Bowl Show [Videos]

PASS IT ON… Here Is How You Watch the Super Bowl 'All-American Halftime Show' Sponsored by TPUSA

After Impressive $1 Million Monday Box Office Haul, Amazon MGM Expanding 'Melania' into 200 More Theaters

Former Lesbian Goes from 'Borderline Satanism' to God Encounter: 'He'll Completely Transform Your Life'

'We're Under Attack': Jewish New Yorkers Blame Mayor Mamdani as Antisemitism Explodes



Search the Articles Archives

Keyword:  
Author:  
Words Posted On:  
Day Month Year



Subscribe to
Breaking Christian News


Follow BCN on Twitter
Are You Praying for Our Government Leaders?
BCN Staff

Steve Shultz
Steve Shultz, Managing Editor
Founder and Owner


Aimee Herd
Aimee Herd, Editor


BCN Plus
Are You Praying for President Trump?
 
 

All articles on this site and emails from BCN are copyrighted property of Breaking Christian News. Permission is given to link to, or share a BCN story if proper attribution is given to both the original writer and summarizer of the story. Breaking Christian News 2005-2019. All Rights Reserved.


Breaking Christian News is a division of Elijah List Publications, Inc. All Rights Reserved


Disclaimer: Articles and links, as well as the source articles linked to; do not necessarily reflect the opinion of Breaking Christian News.

editor@breakingchristiannews.com